Archive - Jul 20, 2014
"I Was Absolutely Shocked At What I Read," Congressman Calls For Release Of Secret 9/11 Documents
Submitted by Tyler Durden on 07/20/2014 22:31 -0500“I was absolutely shocked by what I read... What was so surprising was that those whom we thought we could trust really disappointed me. I cannot go into it any more than that. I had to sign an oath that what I read had to remain confidential. But the information I read disappointed me greatly.”
White House 'Quietly' Exempts 4.5 Million People In 5 "Territories" From Obamacare
Submitted by Tyler Durden on 07/20/2014 20:52 -0500As WSJ reports, last week's geopolitical chaos and distraction was ideal for a news dump, and the White House didn't disappoint: On no legal basis, all 4.5 million residents of the five U.S. territories were quietly released from ObamaCare. It seems the costs of healthcare soared in these five territories due to uneconomic mandates - which woul dhave been a disaster PR-wise for the administration and so, under cover of catastrophe, WSJ reports all of a sudden last week HHS discovered new powers after "a careful review of this situation and the relevant statutory language," that enabled them to 'selectively exempt' American Samoa, Guam, Puerto Rico, Northern Mariana Islands, and Virgin Islands from Obamacare. And all while vacationing...
Three Charts Of The Week: Money Printing Is Not Bringing Prosperity To Main Street
Submitted by Tyler Durden on 07/20/2014 20:14 -0500Furious money printing by the world’s major central banks is not generating real growth and prosperity - but professional economists never seem to get the word.
RJ Reynolds Fined $23.6 Billion
Submitted by Pivotfarm on 07/20/2014 19:37 -0500RJ Reynolds has been ordered by a Florida jury this Friday to pay a total of $23.6 billion to the widow of a chain-smoker that had filed a suit against the company. It’s possibly the largest single plaintiff payout in history for a tobacco manufacturer to date.
Is This The Best Investing Strategy For The New "Free Lunch" Normal?
Submitted by Tyler Durden on 07/20/2014 19:31 -0500Market Madness: Geopolitical Chaos Sparks Biggest "Dash-For-Trash" In 17 Months
Submitted by Tyler Durden on 07/20/2014 18:46 -0500Since The Fed's extension of Operation Twist (and subsequent unveiling of QE3) in 2012, the stocks of "weak balance sheet" companies are up over 100%. In that same period, the stock prices of "strong balance sheet" companies are up a mere 43%. The "dash-for-trash" that the Fed's financial repression forced upon an investing public has enabled the worst companies to not only survive (creating yet another mal-investment boom) but squeezed their share prices to thrive. The reason we bring this up is simple... this last week of exuberant equity market performance in the face of unimaginable geopolitical possibilities saw "weak balance sheet" stocks outperform "strong balance sheet" stocks by their most in 17 months. In other words, amidst all the chaos and uncertainty 'investors' drove the biggest dash for trash since March 2013.
A "Tone-Deaf" Obama Mocked By The NYT For Vacationing While The World Burns
Submitted by Tyler Durden on 07/20/2014 17:58 -0500For an administration in its sixth year, juggling presidential optics is nothing new. And with some rare exceptions, the public relations team around the president has remained consistently stubborn about refusing to let the never-ending stream of political, economic or international crises affect Mr. Obama’s daily schedule. The current myriad incidents are no exceptions: Moments after making a grim statement about Ukraine on Friday, the president popped into the East Room, where the first lady, Michelle Obama, was holding a mock state dinner for children to promote her Let’s Move nutrition initiative. “My big thing,” he confessed to the kids, “chips and guacamole!” There was plenty of laughter all around.
"Buying The Car Was The Worst Decision I Ever Made" - The Subprime Auto Loan Bubble Bursts
Submitted by Tyler Durden on 07/20/2014 17:05 -0500It has been over six months since we first highlighted the growing deterioration in the quality of auto loans and mentioned the 's' word (subprime) as indicative that we learned nothing from the financial crisis. Since then, auto loans (and especially subprime in the last few months) have surged to record highs; and most concerning, recently has seen delinquencies and late payments spike. The reason we provide this background is that, thanks to The NY Times, this story is now hitting the mainstream media as subprime-quality car buyers (new and used) realize the burden they have placed on themselves thanks to exorbitantly high interest rates (and a rapidly depreciating 'asset'). As one car 'owner' exclaimed, "buying the car was the worst decision I have ever made."
INTRoDouCHiNG SPYBoY KeiTH...
Submitted by williambanzai7 on 07/20/2014 16:35 -0500Go ahead, pass it around...
The Insiders' Case For A Stock Market Mini-Crash
Submitted by Tyler Durden on 07/20/2014 16:15 -0500Ssshh... The trade only works if everyone is lulled into staying on the long side until it's too late.
American Political Discourse Summed Up In 1 Cartoon
Submitted by Tyler Durden on 07/20/2014 15:36 -0500Presented with no comment...
President Obama Defends Israel, Condemns Hamas, Sends Kerry To Egypt To Fix It
Submitted by Tyler Durden on 07/20/2014 14:42 -0500President Obama and Israeli Prime Minister Netanyahu spoke on the phone today; The White House just released the clarifying statement of next steps...
The 2 Charts That Have BofA Worried About A "Greater Correction" In Stocks
Submitted by Tyler Durden on 07/20/2014 13:20 -0500While the S&P500 rebounded sharply on Friday, BofAML's Macneil Curry warns evidence continues to say that this is a very late stage advance from which a greater correction is forthcoming. The recent deterioration in breadth (52wk highs failing to keep track with price), the negative seasonal period and divergences between the broader indexes say that risk/reward is skewing to the downside. Bottom Line: "The S&P 500 is vulnerable."
Four Issues for the Week Ahead
Submitted by Marc To Market on 07/20/2014 12:56 -0500A dispassionate look at the issues and events shaping the investment climate in the week ahead.







