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Morning Humor - American And Greek Capitalism Explained
Explaining US economics (with an emphasis on generally accepted criminal accounting practices).
And Greek...
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Priceless!
Call the mover. Feels like Hoover.
Sanford and Sons is unlisted (I tried)
Hark its markets seize
like the Japanese, oh wow
to What a Feeling-Flashdance just became engrained in my head for the elevator ride. Thank you.
CAUTION GREECE...:
http://williambanzai7.blogspot.com/2010/03/caution-greece.html
GREEKS WILL BE GREEKS:
http://williambanzai7.blogspot.com/2010/03/greeks-get-greeked.html
Market Update 23 March 2015
The DOW rebounded from a crushing six point opening sell off to close the day at 21,626, up 43 points for the day. The rebound came after there were reports, later denied, that European officials are working on a bailout for EU member Greece. Greece has been in a state of near suspended animation since debt woes struck the country in early 2010, though strikes have been averted through the daily airing on government controlled television of an Anthony Quinn film extravaganza.
It was the DOW’s 722nd consecutive positive close, as well as the 217th straight positive Monday close. The strongest sectors were, as has been the case for the last half decade, consumer retail, banks, homebuilders, and specialty coffee companies. Key movers were Sears Holdings, whose stocked jumped after reports surfaced that billionaire Ed Lampert was increasing his stake in the retailer to just above 100%, and KBHomes, who reported their 63rd consecutive smaller than expected quarterly loss. Overall volume was somewhat light at just under five thousand shares. There were 4,658 new highs, no new lows, with 2852 counters unchanged. 3788 companies showed no volume whatsoever, which independent market commentator Dennis Kneale was quick to point out “indicates the shares are held by strong hands“.
The market also received a small boost from influential market startegist Abby Joseph Cohen of Goldman Sachs-Wells Fargo-Bank of America Advisors, who said that she believes the market is 13.5% undervalued.
Offsetting this somewhat were comments by perennial bear Robert Prechter, who advised clients to go 10,350% short in preparation for the arrival of P3. Mr. Prechter was interviewed by Bloomberg Fox Business News reporter Charles Gasparino from Prechter’s suite at the Bellevue Institute for the Perpetually Pessimistic. The two later dined together at Elaines.
In economic data, the market was buoyed by a better than expected 100% increase in sales of existing homes, though some market watchers argued the data was only cause for cautious optimism rather than outright euphoria, coming as it did after last month’s nationwide sales of that single home in the suddenly chic downtown area of Detroit. The market awaits Friday’s release of the BLS monthly employment figures, where market consensus calls for a better than expected number. Last month’s figures are expected to be revised down, as they have been every single month since the fall of 2009, though economist Robert Barbera donwplayed this anticipated revision, reminding the market that labor is a lagging indicator and that unemployment of 36% means that 64% of the labor force is gainfully employed. Mr. Barbera’s models show labor bottoming within the next few months.
Elsewhere, the Federal Reserve released its latest balance sheet today, showing that total assets stand just below $47 trillion. Among the key month-to-month changes, the Fed increased its holdings of Hong Kong mortgaged backed securities, and slightly reduced its holding of Icelandic Government debt. Other key items highlighted included a slight increase in the holdings of Maiden Lane LXVII, the vehicle formed to support Kenyan real estate prices after Somali pirates, stung by the total collapse of world trade, could no longer make payments on their Mombasa properties.
In other markets, gold fell $8 to close at $1097. Gold has been in a tight range of approximately $1090 to $1135 for five years. Two noted gold experts, Jim Sinclair and Gordon Gekko, reiterated their call to BUY GOLD NOW!
In a related market story, former Zero Hedge founder Tyler Durden lost yet another appeal against the contempt of court charge that has kept him confined in a Federal lockup since late 2010. Mr. Durden, who reportedly suffers from a multiple personality disorder, was charged with contempt for failing to reveal his source for an article he wrote detailing the Federal Reserve's acceptance of Pets.com stock and Russian Czarist Bonds as collateral at the Fed’s Primary Dealer Credit Facility. Fed Chairman in Perpetuity Ben Bernanke has yet to comment on the allegations, other than to say he’ll look into it. Representative Ron Paul added that he will hold Bernanke to it.
Down right scary. And spot on if the powers that be can keep the current trends going without implosion. There wasn't a line in there that didn't evoke laughter. However, everything in here has been ripped from today's headlines, albeit on a smaller scale. After a while in bizarro world, everything seems normal to it's inhabitants.
Funny as all get out! Thanks - LOL! Needed that.
What bothers me is that phrases like "market consensus calls for a better than expected number" don't even bother me anymore.
Spot-on for parallel universe #1.
In parallel universe #2, you would need to add numerous references to "Supreme Leader" interspersed with whatever "Mein Fuhrer" is in Spanish.
In parallel universe #3, it would be simply "AAAAAAAAAAIIIIIIIIIIIIIEEEEEEE" and then dead air.
"influential market startegist"
i like the typo version.. sounds like their real position
Wow. That video was horrible.
chindit13:
THX. ROFLMAO
This is magic - brilliant stuff.
I will revive!
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