Jim Cramer

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3 Things: Steel, Sentiment, & Productivity

Innovation in technology reduces the need for labor. More individuals are sitting outside the labor force increase the demand for available jobs. Increased competition for available jobs suppresses wage growth. It is a virtual spiral that continues to apply downward pressure on an economy based nearly 70% on consumption. Importantly, what small increases there have been in unit labor costs have primarily come at the expense of higher benefit and healthcare costs rather than an increase in wages. As discussed previoulsy, for roughly 80% of the working labor force, wages have declined over the last five years. Janet Yellen is right that wages will have a hard time increasing without a pick up in productivity. The issue is that innovation IS the problem, not the solution. That is unless we begin to include the productivity of robots.

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Caterpillar Explains Why It Is A Global Recession

  • In Asia/Pacific, the sales decline was primarily due to lower sales in China and Japan.
  • Decreases in Latin America were primarily due to continued weak construction activity
  • Sales declined in EAME primarily due to the unfavorable impact of currency, as sales in euros translated into fewer U.S. dollars.
  • Sales declined in North America as weakness in oil and gas-related construction was largely offset by stronger activity in residential and nonresidential building construction.
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The Song Remains The Same

We love reading quotes from Hussman in 2000 and 2007. The air is getting pretty thin up here. A stock market driven by Google, Apple, Netflix and a few other tech darlings with no earnings does not make a market. Time is running out for the bulls. The same morons on CNBC ridiculed and scorned his facts then and they scorn and ridicule him now. Do we trust Jim Cramer and Steve Liesman or John Hussman? Guess.

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How The World Works - The Santelligram

Rick Santelli recently unleashed his own brand of truthiness on an unsuspecting CNBC audience, that, just like in China, "the central planners are in control" in Japan, Europe, and most of all America. As part of the 3 minutes of lack-of-free-market despair, Santelli drew what we called "the chart of the year." By popular request, it is reproduced below...

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Why Moar QE Is Inevitable (In 2 Simple Charts)

If The Fed's dream of wealth creation by equity-levitated mandate is to be fulfilled then it is simply inevitable that QE Moar is on its way...

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Presented with nothing but an open-mouthed 'no comment'...

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The New "Scariest Chart" For American Citizens

For the average American citizen, this may well become the "scariest" chart...

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The Audacity Of Hope Meets The Veracity Of Data

Hope may be an investing strategy in the short-term, but it is not a driver of economic growth...

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What Wall Street Expects From Today's Payrolls Number, And Why It May Be Overly Optimistic

The most important not yet double seasonally-adjusted economic datapoint is upon us: in 90 minutes the BLS will report the May payrolls number which consensus expects to rise by 225K, (range of 140K to 305K), barely unchanged from April's 223K. The meaningless unemployment rate is expected to remain unchanged at 5.4%, even as the number of people not in the labor force likely will rise to a new record high. The most important variable, however, will be the hourly earnings with consensus expecting a 0.2% increase for all workers (the non-supervisory workers category is a different story entirely), up from the 0.1% increase in April.

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When, Not If

It's just a matter of time...

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Did The Sell-Side "Hopers" Just Give Up?

Weather or no weather, even the sell-side's most exuberant hope-mongers appear to be losing faith in 'revisions', 'double-seasonals', or 'rebounds' saving the US economy...

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