Posts Tagged ‘Emperor’s New Clothes’

The Jive Economy

"Life is tragic, history is merciless, and societies don’t always make good collective choices." JHK 

The Jive Economy

 

Local Politicians Campaign At Nudist Colony

     What started out as a case of The Emperor’s New Clothes now has America looking like the world’s biggest nudist colony, with everyone in the long chain of power and authority admiring each other’s splendid new (imagined) pimp suits. George W. Bush (remember him?) wasn’t kidding when he discounted the function of objective reality in our national life, saying, "we make our own reality." This apparently hasn’t changed much with a new chief at the top.

     A nice example popped up last week with the GDP (Gross Domestic Product) index for the fourth quarter of 2009. The equation affects to measure the growth in economic activity and this particular release imputed that the US economy had expanded at an annualized rate of 5.7 percent. Wow, impressive! We must be digging a new Panama Canal or something.

     It turned out to be based largely on some jive about inventory "investments" — meaning, I guess, that the Ronco Corporation has laid in 1.7 million Dial-O-Matic food slicers and Showtime Rotisseries in the expectation that American stock market investors will enter 2010 creaming off their mutual fund profits to spend wildly on every infomercial prompt beamed at them over the graveyard shift at Fox News.

     Memo to nation: we’re not really growing, we’re shrinking. Is this necessarily a bad thing? I dunno.  Unlike, say, the stockholders of Toll Brothers I’m not so sure that "housing starts" represents my idea of a healthy economy — since it really means we’re destroying every cornfield and cow pasture left outside our cities, which will play havoc with our national life when the reality of our Wile E. Coyote agribusiness fiasco starts to hit home and we discover what cornfields and cow pastures were really all about in the first place. 

     Likewise, the standard processors of news media go orgasmic when they announce car sales figures of 11 million units annualized, or something like that. Isn’t that wonderful: more cars on the San Diego Freeway and the Cross Bronx Expressway. Ever larger parking requirements for the new WalMart. More trips-per-household to buy milk and Fruit Loops. Do you really think that more suburban sprawl makes this…
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Zero Hedge

Meanwhile In Canada: "Terrible" Jobs Report, Worst Since The Financial Crisis

Courtesy of ZeroHedge View original post here.

As the US was basking in the warm glow of the best jobs report since January, it was a different story over in Canada, where BMO's chief economist Robert Kavcic had one recommendation to clients: "avert your eyes." Here's why: Canadian employment unexpectedly tumbled by 71,200 in November, the biggest decline since the financial crisis.

For those hoping that the details might serve up better news, they too were disappointed: Full-...



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Phil's Favorites

American influence could take the hit as Putin, Zelenskiy try to make peace in Donbass

 

American influence could take the hit as Putin, Zelenskiy try to make peace in Donbass

Zelenskiy is facing a tough meeting with Russia’s Putin on Dec. 9. Ukrainian Presidential Press Office via AP

Courtesy of Erik C. Nisbet, The Ohio State University and Olga Kamenchuk, The Ohio State University

President Vladimir Putin of Russia and his Ukrainian counterpart, Volodymyr Zelenskiy, are set ...



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Kimble Charting Solutions

Gold Miners Indicator Attempting Multi-Year Breakout, Says Joe Friday

Courtesy of Chris Kimble

Are Gold Mining stocks about to be sent a bullish signal they haven’t received in years? Possible says Joe Friday.

This chart looks at the Senior Miner/Junior miner (GDXJ/GDX) ratio over the past few years. Historically when the ratio is heading up, miners tend to do very well.

The ratio has created a series of lower highs just below the falling line (1), since the summer of 2016. The ratio is currently testing the strong falling resistance line and the June 2019 highs at (2).

Joe Friday Just The Facts Ma’am; If the ratio succeeds in a double breakout at (2), it sends miners a long-awaited bullish message.

...

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Insider Scoop

Scott Galloway Calls For Twitter's Board To Replace 'Part-Time CEO' Jack Dorsey Amid Africa Move Plans

Courtesy of Benzinga

A shareholder in Twitter Inc. (NASDAQ: TWTR) and New York University business professor wrote an open letter Friday to the company's board calling for the replacement of CEO Jack Dorsey.

What To Know

Scott Galloway, who owns more than 330,000 shares of Twitter stock a...



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Lee's Free Thinking

Chart Shows the Fed Ramping Up Not QE - Funding Almost All Treasury Issuance

 

Chart Shows the Fed Ramping Up Not QE – Funding Almost All Treasury Issuance

Courtesy of Lee Adler, Wall Street Examiner 

The Fed is ramping up “Not QE” .

The Fed bought $2.2 billion in notes today in its POMO, “not QE,” operations. Actually $2.15 billion because they sold back a whole $50 million. Must have been a little glitch in the force.

This brings the Fed’s total outright purchases of Treasuries to $170 billion since it started Not QE, on September 17.

It also did $107 billion in gross new repo loans to Primary Dealers to buy Tre...



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Chart School

Silver stock taking the sector higher

Courtesy of Read the Ticker

As the US economy begins to show late cycle characteristics like: GDP slowing, higher inflation, higher wage costs, CEO confidence slump. 

Previous Post: Gold Stocks Review

The big players in the market are looking for the next swing off good value lows. This means more money is finding it way into the gold and silver sector, and it is said gold and silver stocks actually lead the metal prices.

The cycle below shows prices are ready to move in the months ahead (older chart re posted).


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Digital Currencies

Chinese Crypto Exchange IDAX Locks Cold Wallet As CEO "Goes Missing"

Courtesy of ZeroHedge

By William Suberg via CoinTelegraph.com

Chinese cryptocurrency exchange IDAX has suspended deposits and withdrawals after its CEO allegedly disappeared.

In a blog post on Nov. 29, IDAX, which earlier this week warned it was seeing a run on withdrawals, said the whereabouts of Lei Guorong were currently unkno...



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Members' Corner

Sacha Baron Cohen Uses ADL Speech to Tear Apart Mark Zuckerberg and Facebook

 

Sacha Baron Cohen Uses ADL Speech to Tear Apart Mark Zuckerberg and Facebook

By Matt Wilstein

Excerpt:

Sacha Baron Cohen accepted the International Leadership Award at the Anti-Defamation League’s Never is Now summit on anti-Semitism and hate Thursday. And the comedian and actor used his keynote speech to single out the one Jewish-American who he believes is doing the most to facilitate “hate and violence” in America: Facebook founder and CEO Mark Zuckerberg.

He began with a joke at the Trump administration’s expense. “Thank you, ADL, for this recognition and your work in fighting racism, hate and bigotry,” Baron Cohen said, according to his prepared...



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The Technical Traders

VIX Warns Of Imminent Market Correction

Courtesy of Technical Traders

The VIX is warning that a market peak may be setting up in the global markets and that investors should be cautious of the extremely low price in the VIX. These extremely low prices in the VIX are typically followed by some type of increased volatility in the markets.

The US Federal Reserve continues to push an easy money policy and has recently begun acquiring more dept allowing a deeper move towards a Quantitative Easing stance. This move, along with investor confidence in the US markets, has prompted early warning signs that the market has reached near extreme levels/peaks. 

Vix Value Drops Before Monthly Expiration

When the VIX falls to levels below 12~13, this typically v...



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Biotech

Why telling people with diabetes to use Walmart insulin can be dangerous advice

Reminder: We are available to chat with Members, comments are found below each post.

 

Why telling people with diabetes to use Walmart insulin can be dangerous advice

A vial of insulin. Prices for the drug, crucial for those with diabetes, have soared in recent years. Oleksandr Nagaiets/Shutterstock.com

Courtesy of Jeffrey Bennett, Vanderbilt University

About 7.4 million people ...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Promotions

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