Courtesy of Russ Winter of Winter Watch at Wall Street Examiner
“QE-whatever has created artificial numbers that the underlying (assets) won’t support. Everything is massively too expensive. With QE, there is now too much capital chasing too few opportunities — even when nobody has confidence in the future!” –– Sam Zell, billionaire real estate tycoon
excerpt from today’s Actionable:
The corrupt game of pulling forward future “demand” continues. Government Motors (formerly General Motors) is finishing up the 2012 model year with dealers absolutely stuffed with inventory: 689, 334 cars in September versus 558, 157 in September of last year and 478,000 in 2010. Obviously, this goes full tilt until Nov. 6. Then what? What happens to auto production after the election?
As if channel stuffing isn’t enough, consider what happened the last time the debt ceiling high-wire act took place — and this one will take place in December, right in the midst of holiday shopping! The total debt hit $16.160 trillion on October 1, 2012. The debt ceiling is $16.394 trillion, $234 billion to go. $100 billion a month is the run rate, maybe more if payrolls tail off, read em and weep.
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