Archive - Apr 30, 2009
What does the US consumer have to say about the March rally?
Submitted by Tyler Durden on 04/30/2009 18:06 -0500The BEA released March personal income data and it's interesting to compare the macro message coming out of that with what the markets have been reflecting.
Below, we have some interesting themes that we pulled from the data - many themes will not be new to regular readers of this blog but are merely being confirmed. Unless otherwise mentioned, all are on a rolling 6 month window, seasonally adjusted.
Job Pessimism Picking Up Again
Submitted by Tyler Durden on 04/30/2009 17:58 -0500Some 3rd derivative fun - as the chart below shows, the differential between those who see "Jobs Not So Plentiful" and "Jobs As Plentiful" is not only consistently high, but has demonstrated the first rise since October 2008: quite a bearish signal for jobs. Put this in your 2nd derivative green shoot pipe CNBC.
Job Pessimism Picking Up Again
Submitted by Tyler Durden on 04/30/2009 17:58 -0500Some 3rd derivative fun - as the chart below shows, the differential between those who see "Jobs Not So Plentiful" and "Jobs As Plentiful" is not only consistently high, but has demonstrated the first rise since October 2008: quite a bearish signal for jobs. Put this in your 2nd derivative green shoot pipe CNBC.
Job Pessimism Picking Up Again
Submitted by Tyler Durden on 04/30/2009 17:58 -0500Some 3rd derivative fun - as the chart below shows, the differential between those who see "Jobs Not So Plentiful" and "Jobs As Plentiful" is not only consistently high, but has demonstrated the first rise since October 2008: quite a bearish signal for jobs. Put this in your 2nd derivative green shoot pipe CNBC.
Chrysler Voluntary Bankruptcy Petition
Submitted by Tyler Durden on 04/30/2009 16:49 -0500
The great scramble for financial advisor to Chrysler is on. Our bets are on the inimmitable Durc Savini.
Chrysler Chapter 11 Case Assigned To Judge Arthur Gonzalez
Submitted by Tyler Durden on 04/30/2009 16:05 -0500Update 2: Top unsecured creditors include:
- Ohio Module Manufacturing - $70.3 million
- BBDO Detroit -$58.1 million
- Johnson Controls - $50.3 million
- Continental Automotive - $47 million
- Cummins Engine - $43.9 million
- Germersheim Spare Parts - $36.2 million
Obama Official: Chrysler To Be "Surgical" Bankruptcy
Submitted by Tyler Durden on 04/30/2009 15:00 -0500According to an Obama official, the company will receive a $3.5 billion DIP from the U.S. government and up to $8 billion in total government financing, will file in NY bankruptcy court, and GMAC will take over financing duties.
The bankruptcy is expected to last 30-60 days (this is the biggest load of misguided garbage I have ever heard).
Honey I Shrunk The Treasuries
Submitted by Tyler Durden on 04/30/2009 14:07 -050010Y UST just got the Friend-O treatment. The yield now is a Fed vomit-inducing 3.15%.
Honey I Shrunk The Treasuries
Submitted by Tyler Durden on 04/30/2009 14:07 -050010Y UST just got the Friend-O treatment. The yield now is a Fed vomit-inducing 3.15%.
Honey I Shrunk The Treasuries
Submitted by Tyler Durden on 04/30/2009 14:07 -050010Y UST just got the Friend-O treatment. The yield now is a Fed vomit-inducing 3.15%.
Perspectives From The Great Depression
Submitted by Tyler Durden on 04/30/2009 13:06 -0500No less an authority than FDR's Treasury secretary and close friend, Henry Morganthau, said in 1939: "We have tried spending money.
Perspectives From The Great Depression
Submitted by Tyler Durden on 04/30/2009 13:06 -0500No less an authority than FDR's Treasury secretary and close friend, Henry Morganthau, said in 1939: "We have tried spending money.
Perspectives From The Great Depression
Submitted by Tyler Durden on 04/30/2009 13:06 -0500No less an authority than FDR's Treasury secretary and close friend, Henry Morganthau, said in 1939: "We have tried spending money.
Comparing Today's Vegas Back Lot To A Real Bull Market
Submitted by Tyler Durden on 04/30/2009 11:51 -0500Zero Hedge has often been critical of the administration's current policies, which are not unique or novel, or even sufficient, as many claim, to prevent a relapse based on a confluence of economic events that pushed the country into the Great Depression, and can be simply qualified as inflationary spending and credit bubble reflation. By peddling debt at even cheaper rates than the much maligned Greenspan did during the great initial credit bubble inflation, what is happening right now does not differ one bit from the scenario that brought us here.
