Archive - Dec 2012 - Blog entry
December 15th
Who Was Ludwig von Mises
Submitted by CrownThomas on 12/15/2012 18:59 -0500"it then dawned on me that all the improvements in the conditions of the working classes were the result of capitalism. social laws brought about the very opposite of what the legislation was intended to achieve"
People Freak Out and Buy Noah’s Ark Survival Pods … But the Mayans Say 2012 Isn’t the End of the World
Submitted by George Washington on 12/15/2012 17:11 -0500A Message from the Americas to China
Real Numbers That Show Why Facebook's Ad Model Means Google Will Put It Out Of Business
Submitted by Reggie Middleton on 12/15/2012 16:15 -0500Isn't it amazing that you can get more notoriety for showing your ass and a pretty smile than you can get for outing the scam of the decade through intellectual analysis? More money was lost through the Facebook scam IPO at $38 than Bernie Madoff could ever have pulled off.
I Put a Deal on the Table
Submitted by Bruce Krasting on 12/15/2012 10:54 -0500I attempt to craft something that has a chance of working.
The Trend Wants to be Your Friend Again
Submitted by Marc To Market on 12/15/2012 07:53 -0500
The US dollar moved lower over the past week against the major currencies, with the notable exception of the Japanese yen. The greenback's technical tone has deteriorated. The euro and sterling appear to have convincingly broken above significant down trend lines. With the holiday season upon us, there seems to be no compelling technical reason not to look for a continuation of dollar weakness into the end of the year. Few are incentivized to fight the trend.
The extent of the Fed's easing, and the implication of its guidance, suggests an even more dovish posture than the expansion of QE3+ (remember it was purposely open-ended, unlike QE1 and QE2). While the euro zone economy appears to be contracting this quarter at a slightly faster pace than in Q3, the slowdown in the US is more dramatic. Growth may be more than cut in half from the 2.7% annual pace seen in Q3. The fiscal cliff is the main cause of consternation at the moment. Although there is private negotiations taking place, the public posturing is what investors have to guide them, and it is not particularly flattering.
December 14th
Biggest Social Media Sites Censor Alternative News
Submitted by George Washington on 12/14/2012 15:04 -0500“Unreliable News Sources”
In housing debt we trust.
Submitted by drhousingbubble on 12/14/2012 12:25 -0500The assumption that households are doing much better simply because the stock market is up is really a problematic understanding of how wealth is dispersed across the United States. I vividly remember a handful of parties back during the peak of the bubble where people would often quote how much their net worth went up courtesy of the housing bubble. “My home that I bought in the 1990s is now worth over $1 million.” As all of you know, until you sell the home those gains are largely on paper and many did not sell. In fact, many tapped out large portions of that equity and spent it. This is why even with home prices moderately recovering US households still have close to record low equity in their homes. It probably does not help that low down payment FHA insured loans are such a large part of the market encouraging Americans to make the biggest purchase of their lives with very little down. The Fed reported last week on net worth figures and it is worth digging deep into the data.
14 Dec 2012 – “ Stuck in the Middle with You ” (Stealers Wheel, 1972)
Submitted by AVFMS on 12/14/2012 12:01 -0500Utterly boring Friday session, worsened by year end inactivity… PMI figures, which were actually needed on the more positive side to justify the latest levels in Risk were just so so in Europe. But, who cares? Periphery recovering further with Spain actually the best performer on the week (outside the bailed-out gang). US stuck despite better figures.
"Stuck in the Middle with You" (Bunds 1,35% unch; Spain 5,37% -1; Stoxx 2628 +0,2%; EUR 1,314 +60)
TiMe MaGaZiNe ReaDeR PoLL: PRoPaGaNGNaM STYLe
Submitted by williambanzai7 on 12/14/2012 10:11 -0500And this year's winner is...
Europe: The Vision Thing
Submitted by Marc To Market on 12/14/2012 10:07 -0500The euro has been the strongest currency this week. At pixel time it is up about 1.2%. The Dow Jones Stoxx 600 made new 18-month highs earlier in the week before consolidating in the second half of the week. Bond markets were mostly lower, though Greece, for obvious reasons, Spain and Portugal were exceptions to the generalization.
Four Drivers, Little Movement
Submitted by Marc To Market on 12/14/2012 06:40 -0500With few exceptions, the global capital markets which began the week with a bang, are finishing with a whimper. The US dollar is little changed against the major and emerging market currencies. Asia stocks were by and large flat, with the notable exception of Chinese stocks, where the major indices jumped a little more than 4%.
European bourses are mixed, with gains and losses mostly less than 0.25% near midday in London. Spanish and Italian bond yields are slightly lower, but activity is quiet.
Despite the subdued tone there are four developments to note
Central Banks Renew Currency Swap Lines
Submitted by CalibratedConfidence on 12/14/2012 01:26 -0500Global Central Banks agree to another year of access to FRBNY FX Swap Lines
December 13th
Germany’s Favorite Rabble-Rouser Economist Lashes Out
Submitted by testosteronepit on 12/13/2012 22:05 -0500The longer you delay needed “radical measures,” the more private investors will be able to sell “their toxic paper without haircut to governmental bailout funds, and then hightail.”
Moore’s Law, Cheap Electronics and Homeland Security Money Combine to Create Big Brother
Submitted by George Washington on 12/13/2012 20:25 -05001984 Is HERE
A Totally Different Ballgame Soon / Crime In A Flash
Submitted by lemetropole on 12/13/2012 18:25 -0500A.M. Kitco Metals Roundup: Gold Drops Below $1,700 Following another Mysterious Price Drop in Asian Trading
Gold set for dramatic correction: hedge fund manager
