- Threatening snowstorm may be early test for N.Y. Mayor de Blasio (Reuters), U.S. Northeast Threatened With Blizzard, Travel Delays (BBG)
- Scarred U.S. consumers a hard sell for traditional retail (Reuters)
- Edward Snowden, Whistle-Blower (NYT)
- A Few Brave Investors Scored Huge, Market-Beating Wins (WSJ)
- Fiat gets full control of Chrysler for $4.35 billion (Reuters)
- Billions Vanish in Kazakh Banking Scandal (WSJ)
- SAC’s Cohen Focus of Trial as Martoma Rebuffs U.S. (BBG)
- World's first state-licensed marijuana retailers open doors in Colorado (Reuters)
- Hyundai, Kia face fading growth as currency tides buoy Japan rivals (Reuters)
- Bond investors braced for new year shock (FT)
- Putin vows total destruction of 'terrorists' after bombings (AFP)
As usual, in 2013, sticking to facts was a mistake in a world fueled by misinformation, propaganda, delusion and wishful thinking. Those in power have successfully held off the unavoidable collapse which will be brought about by their ravenous unbridled greed, and blatant disregard for the rule of law, the U.S. Constitution and rights and liberties of the American people.
"There is no disputing the facts. The economic situation is deteriorating for the average American, the mood of the country is darkening, and the world is awash in debt and turmoil. Every country is attempting to print their way to renewed prosperity. No one wins a race to the bottom. The oligarchs have chosen a path of currency debasement, propping up insolvent banks, propaganda and impoverishing the masses as their preferred course. They attempt to keep the masses distracted with political theater, gun control vitriol, reality TV and iGadgets. What can be said about a society where 10% of the population follows Justin Bieber and Lady Gaga on Twitter and where 50% think the National Debt is a monument in Washington D.C. The country is controlled by evil sycophants, intellectually dishonest toadies and blood sucking leeches. Their lies and deception have held sway for the last four years, but they have only delayed the final collapse of a boom brought about by credit expansion. They will not reverse course and believe their intellectual superiority will allow them to retain their control after the collapse.”
- Americans on Wrong Side of Income Gap Run Out of Means to Cope (BBG)
- Michael Schumacher battles for life after ski fall (Reuters)
- Professors for hire: Academics Who Defend Wall St. Reap Reward (NYT)
- Chinese police kill eight in Xinjiang 'terrorist attack' (Reuters)
- How to Prevent a War Between China and Japan (BBG)
- Unemployment Benefits Lapse Severs Lifeline for Longtime Jobless (BBG)
- Japan's homeless recruited for murky Fukushima clean-up (Reuters)
- China Local-Government Debt Surges to $3 Trillion (WSJ)
- How unexpected: Britons less inclined to pay down mortgage debt (Reuters)
Can't go to bed without first spending 10 minutes on and then sleeping next to your smart, or cell, phone? You are not alone. According to a recent Pew study, America has never been more wired, or rather, unwired to some form of constant form of telecommunications. Among the findings: 91% of all American adults have a cell phone, with this number rising if one is male (93%), black non-Hispanic (93%), is between 18-29 (97%), college graduated (95%), lives in a city (92%), and makes over $75,000 (98%). But that's just the tip of the iceberg. As the chart below shows, Americans have never owned more, or had a broader selection of gadgets to chose from, than they do now.
While the US consumer is rushing to spend what little savings they have left and grab that last for 2013 "X% off" deal from the local inventory-clearance bin on plastic Made in China trinkets or marked-down clothing, Chinese consumers are likewise scrambling to buy products. Only, unlike in the US, the object of China's affection is not some gizmo that will end up in the local landfill within 3-6 months. China News Network shows what it is.
Momentum stocks are the absolute best stocks to invest in from a risk and return standpoint, and there are 5 drivers for GM being a momentum stock 2014.
- China cash injection fails to calm lenders (AFP)
- European Union Stripped of AAA Credit Rating at S&P (BBG)
- Last-Minute Health-Site Enrollment Proves a Hard Sell (WSJ)
- Bernanke’s Recession-Fighting Weapon Developed by 1900s Banker (BBG)
- Asia Stocks Are Little Changed Amid China Funding Concern (BBG)
- Regulators' Guidance on Volcker Rule Gives Banks Little Relief on Debt Sales (WSJ)
- On one hand: Man Who Said No to Soros Builds BlueCrest Into Empire (BBG); on the other: Michael Platt's BlueCrest Capital Poised for Rough Close to 2013 (WSJ)
- BOJ Keeps Record Easing as Fed Taper Helps Weaken Yen (BBG)
- Bank of England becomes more cautious on economic predictions (FT)
- Gold Climbs From Lowest Close Since 2010 as Goldman Sees Losses (BBG)
After 22 years of reviewing tech products for the Wall Street Journal, Walt Mossberg is leaving; but before he does, he unveils what he believes are the 12 products that were the most-influential during his tenure at the "paper" (remember that: paper?). Remember the Apple Newton? How about Netscape? Mossberg believes even if these products did not last until the present, they left their mark in the evolution of personal technology. Do readers agree or disagree? And if not, which product that did not make the list should be on it?
- MOAR: BOJ Said to See Significant Room for More Bond Purchases (BBG)
- Meltdown Averted, Bernanke Struggled to Stoke Growth (Hilsenrath)
- New Mortgages to Get Pricier Next Year (WSJ)
- Republicans to Seek Concessions From Obama on Debt Limit (BBG)
- Hunting for U.S. arms technology, China enlists a legion of amateurs (Reuters)
- Jury Begins Deliberating in Case of SAC Portfolio Manager (WSJ)
- BP to Write Off $1 Billion on Failed Well (WSJ)
- Rajan Unexpectedly Keeps India Rates Unchanged to Support Growth (BBG)
- Thai protesters say they will rally to hound PM from office (Reuters)
- SEC Brings Fewer Enforcement Actions, Slows Early-Stage Probes (WSJ)
- Fed’s $4 Trillion Assets Draw Lawmaker Ire Amid Bubble Concern (BBG)
- Ex-Goldmanite Fab Tourre fined more than $1 million (WSJ)
- EU Banks Shrink Assets by $1.1 Trillion as Capital Ratios Rise (BBG)
- Japan to bolster military, boost Asia ties to counter China (Reuters)
- China condemns Abe for criticizing air defense zone (Reuters)
- Insider-Trading Case May Hinge on Phone Call (WSJ)
- Republicans Gird for Debt-Ceiling Fight (WSJ)
- Mario Draghi pushes bank union deal (FT)
- German Coalition Plans More Pension Money (WSJ)
- Oil Supply Surge Brings Calls to Ease U.S. Export Ban (BBG)
Despite the best efforts of the search engines, the majority of the Internet is unsearchable with estimates of this “Unlit” Web as high as 90%. As ConvergEx's Nick Colas notes, some of this content (no one knows how much) is dark for a reason - hosting every form of criminal behavior known to man - but the rest from the increasing interest in anonymous Internet use in light of widely publicized government surveillance. Among the least well understood emerging themes in technology, Colas points out, is the “Dark Web”, adding that Oscar Wilde famously opined that “All human beings have three lives: public, private and secret.” The existing structure of the Internet handles the first two very well. The Dark Web is, apparently, for the third. The first innovation to move from “Dark” to “Lit” Web is bitcoin, but it certainly won’t be the last.
Big Dog, Wild Cat, Cheetah... all names one wouldn't associate with Google (if anything perhaps feline-named Apple operating systems). And yet, the company that is best know for its internet prowess and having more data about the search habits and private interests of each and every computer user than the NSA could ever dream of, is ever more aggressively moving into the animal kingdom. The robotic one that is.
- Tough Question for Fed: Time to Act? (Hilsenrath )
- Merkel Begins Third Term Strengthened by SPD Partner Backing (BBG)
- Wary of Roma, Europe cold-shoulders its new eastern workmates (Reuters)
- New Medicines Emerge, but Few Blockbusters (WSJ)
- SIP in the crosshairs: U.S. Exchanges Near Deal for Infrastructure Upgrade (WSJ)
- Secret Inside BofA Office of CEO Stymied Needy Homeowners (BBG)
- AIG Said to Near Sale of Plane Unit to AerCap (BBG)
- Inside the Saudi 9/11 coverup (NYPost)
- Russian Bank Chief Weighs Firings as Costs Absorb Revenue (BBG)
- Video Boom Forces Verizon to Upgrade Network (WSJ)
- Chinese Manufacturing Slows (AP)
Overnight rhetoric in Asia became increasingly heated when China's Ministry of Foreign Affairs expressed "strong dissastisfaction" at the slanderous actions of Abe's Japanese government over the Air Defense Identification Zone (ADIZ) and the "theft and embezzlement" of the Diaoyu Islands. "Japan's attempt is doomed to failure," China warned ominously and as we highlight below, a reflection on the possible rational reasons for China and Japan to go to war over the Senkaku/Diaoyu islands highlights the seriousness of the ongoing brinksmanship in the East China Sea. If a war is fought over these long-contested islands, it will have an eminently rational explanation underlying all the historical mistrust and nationalism on the surface. War in the East China Sea is possible, despite the economic costs.
There are multiple signs of a top forming. And even stock bulls are sitting on cash. What's next?