Posts Tagged ‘free money’

Because if the Fed Knows How to Do One Thing, It’s How to Have Meetings

Because if the Fed Knows How to Do One Thing, It’s How to Have Meetings

Courtesy of Jr. Deputy Accountant 

 That could easily be little Timmy down the block
his dad owns a small business and learned about the free money

Dow Jones:

The Federal Reserve will hold a conference next week on financing for small businesses.

The Fed on Wednesday announced the conference, which will be held Monday. Chairman Ben Bernanke is scheduled to make opening remarks.

The Fed is sponsoring the event to discuss strategies to improve access to credit for small businesses.

Hopefully Zimbabwe Ben‘s opening remarks go something like "Hey, small business, if you would like a piece of this, back your truck up to the back door" since he’s giving it away for free. Devaluation is his only way out I hear and what better way to do that than by handing it out? Sorry, having a meeting about handing it out and then handing it out. 

Please. We all know what happens at these so-called meetings. Sometimes Federal Reserve events are, sadly but not surprisingly, behind the curve. This one should be called the Free Money Symposium and Bernanke can discuss modern money mechanics (I print it, you spend it) and how small business owners can get a piece. Maybe they should be allowed to borrow easy money directly from the Fed at .00000000000001%, that would easily accomplish Bernanke’s other job of keeping unemployment low. Win for everyone surely. 

 


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Once More For Emphasis: SOMEONE INVENTED A MONEY MACHINE

Once More For Emphasis: SOMEONE INVENTED A MONEY MACHINE

Courtesy of Joshua M Brown, The Reformed Broker 

I don’t know what it takes to get people’s attention these days.  Peel your eyes away from the latest episode of Glee and drop the spork you’re using to shovel artificial mashed potatoes into your face for just one moment.

Is everyone following?  OK, read this, please:

The founder of Tradebot, in Kansas City, Mo., told students in 2008 that his firm typically held stocks for 11 seconds. Tradebot, one of the biggest high-frequency traders around, had not had a losing day in four years, he said.

That gem appeared in a New York Times article about high frequency trading.  The article came out on May 16th and no one is talking about it.  Nobody seems to think that the invention of a machine that has made its owner a profit EVERY SINGLE TRADING DAY FOR FOUR YEARS is such a big deal.

Have you all Green Mountain Coffee’d yourselves into a zombie trance?  Well?

An automatic money machine.  Seriously.  Plug it in, maintain the gears and software and voila!  Money.

There isn’t any stock research or economic musing going on.  According to the article, the automatic money machine’s operators don’t even know what the stocks are that it’s trading.  Again – the machine almost can’t lose money because it’s holding stocks for an average of 11 seconds.…
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GE CEO Plays Kiss Ass With Obama

No, we’re not all democrats now, some of us are just plain disgusted. – Ilene

GE CEO Plays Kiss Ass With Obama

kiss assCourtesy of Mish

GE, the financial company masquerading as a manufacturer, has its eyes on the Pot of Government Stimulus Gold.

The financial crisis hasn’t been kind to General Electric Co. Its stock has lost almost half its value, the government has stepped in to prop up its enormous financial arm, and sales have slumped in core industrial businesses.

But Chief Executive Jeffrey Immelt now has his eye on a huge new pool of potential revenue: Uncle Sam’s stimulus dollars. Mr. Immelt, a registered Republican, quips about the shift in thinking in the nation’s corner offices: "We’re all Democrats now."

GE has high hopes for the strategy. It says that over the next three years or so it could bring in as much as $192 billion from projects funded by governments around the globe, such as electric-grid modernization, renewable-energy generation and health-care technology upgrades.

The company is just starting to see a payoff. Last month, for example, President Barack Obama announced $3.4 billion in government-stimulus grants for power-grid projects. About one-third of the recipients are GE customers. GE expects them to use a good chunk of that money to buy its equipment.

"The government has moved in next door, and it ain’t leaving," Mr. Immelt said at the International Economic Forum of the Americas in Montreal in June. "You could fight it if you want, but society wants change. And government is not going away."

The 53-year-old executive supported the presidential campaign of Sen. John McCain, yet scored an invitation onto the President’s Economic Recovery Advisory Board, led by former Federal Reserve Chairman Paul Volcker. Inside GE, he pushed his managers hard to devise plans for capturing government money.

As part of that effort, GE has promoted policy proposals such as a government-backed power-grid modernization, and pressed the government to increase the size of stimulus grants for that purpose. It also has helped customers design projects and apply for government money, with the expectation that those customers will then buy GE equipment.

GE isn’t in agreement with the Obama administration on some proposals. Its GE Capital financial unit, which contributed nearly half of its earnings in recent years, received government backing for its debt when


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“That’s what happens when a town full of broke people gets a whiff of free money”

“That’s what happens when a town full of broke people gets a whiff of free money”

Courtesy of Ed Harrison at Credit Writedowns

The banks have been the ones benefitting most from free money via the Federal Government and U.S. taxpayers.  Given 9.8% base unemployment and 17.0% comprehensive unemployment, it is a bit galling for ordinary Americans that these same institutions are making record profits and poised to hand out record bonuses. Detroit is one of the hardest hit cities with the base rate of unemployment a depression-era 17.1% that is the highest in the nation. People who have watched corporations hoover up the handouts are desperate for some relief.  They are finally getting some (hat tip Andrew):

Thousands hoping to get applications for federal help on rent and utility bills turned Cobo Center into a chaotic scene today.

They came by foot, wheelchair, bicycle and car. About six left by ambulance after tensions rose and people were trampled, according to a paramedic on the scene. One unfortunate soul got his car booted.

Detroiters were trying to pick up 5,000 federal assistance applications from the city at Cobo because Detroit received nearly $15.2 million in federal dollars under the Homeless Prevention and Rapid Re-Housing Program, which is for temporary financial assistance and housing services to individuals and families who are homeless, or who would be homeless without this help.

People in wheelchairs and others using canes were being leaned on by people too weak to stand. Emergency medical technicians on the scene said they treated applicants who were injured during the rush to get inside the venue.

That’s what happens when a town full of broke people gets a whiff of free money, said Walter Williams, 51, who came before the sun to get an application and a shot at some federal assistance.

"This morning, I seen the curtain pulled back on the misery," he said. "People fighting over a line. People threatening to shoot each other. Is this what we’ve come to?"…

Yes, this is what we’ve come to.

Response had been so great that Detroit police and fire officials considered shutting down the process because of the volume of people.

Kelley Turcotte, a Detroit dishwasher, was near the end of the line around 10:30 a.m. today. The 27-year-old just had a son and said he is only


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Kimble Charting Solutions

Silver Headed Back To $50, Top Of The Cup & Handle Pattern?

Courtesy of Chris Kimble

Could Silver be creating a multi-decade bullish “Cup & Handle” pattern? Possible!

Did a retest of a handle breakout take place in March at (1), where Silver created one of the largest bullish reversals in decades? Possible!

Could Silver be creating a 40-year bullish pattern? Anything is possible! I humbly have to say share this; I’ve been in the business for 40-years and I haven’t seen anything like this.

Silver looks to have double topped back in 2011 at $50, which was the 1980 highs. After double topping, Silver ...



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Phil's Favorites

Beirut explosion: the disaster was exceptional but events leading up to it were not - researchers

 

Beirut explosion: the disaster was exceptional but events leading up to it were not – researchers

A trade in waste flows from Europe to Asia. Avigator Fortuner/Shutterstock

Courtesy of Scott Edwards, University of Bristol and Christian Bueger, University of Copenhagen

At the time of writing at least 100 people have lost their lives and a further 4,000 have been wounded following an ...



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Zero Hedge

Florida COVID-19 Cases Top 500,000; NYC Sets Up "Check Points" For Travelers: Live Updates

Courtesy of ZeroHedge View original post here.

Summary:

  • Florida cases top 500k
  • NYC institutes "check points" for travelers
  • Chicago public schools to reopen online only this fall
  • UK invests $18mil in Scottish vax factory
  • JNJ strikes huge vax deal with White House
  • COVID deaths top 700k
  • US to send DHHS Secretary Alex Azar on historic visit to Taiwan
  • Czech Republic reports biggest jump in ...


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The Technical Traders

Walk Through the Gold and Silver Charts to See What to Expect

Courtesy of Technical Traders

Check out the analysis of this morning’s Gold and Silver charts by our own Chris Vermeulen, Chief Market Strategist and Founder of TheTechnicalTraders.com, to see what is in store for precious metals. Make sure you check out our Gold and Silver article from August 4th, 2020 for additional context behind our predictions and rationale for continued price appreciation.

Learn more about our ...



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Biotech/COVID-19

What the huge COVID-19 testing undercount in the US means

 

What the huge COVID-19 testing undercount in the US means

Health care workers use a nasal swab to test a person for COVID-19 in Pembroke Park, Florida. Joe Raedle / Getty Images News

Courtesy of Melissa Hawkins, American University

Researchers from the Centers for Disease Control and Prevention and other institutions recently published a study which estimated that the true number of people infected by COVID-19 could be six to 24 times high...



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ValueWalk

Beyond Meat Has Not Disclosed Its Environmental Effects

By Jacob Wolinsky. Originally published at ValueWalk.

A recent S&P Global Market Intelligence Trucost analysis found that Beyond Meat Inc., the maker of plant-based meat alternatives, has not disclosed the full extent of its environmental impacts. This includes the amount of greenhouse gases emitted or the volume of water discharged.

Q2 2020 hedge fund letters, conferences and more

Beyond Meat Has "0" Disclosure Of Environmental Impacts

Key insights from the analysis include:

  • Beyond Meat’s weighted environmental disclosure ratio, which shows what percentage of its environmental impacts it discloses...


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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Sunday, 29 March 2020, 07:00:37 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: Silver Shorts Are In a Bind | Ted Butler youtu.be/qQc0AoJp-Q8



Date Found: Monday, 30 March 2020, 05:21:45 PM

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Comment: 5 Questions From You for Luke Gromen youtu.be/nVZD_fuxbQE


...

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Digital Currencies

Twitter Says "Human Error" And "Spear-Phishing Attack" Responsible For Massive Bitcoin Hack

Courtesy of ZeroHedge

Twitter suffered from a major hack about two weeks ago and has now said that its staff was tricked by "spear-phishing", which is a targeted attack to trick people into simply handing out their passwords. 

Twitter staff were targeted through their phones, according to a new report from the BBC. The attacks then allowed hackers the ability to Tweet from celebrity Twitter accounts. Twitter has said it was "taking a hard look" at how it could improve its permissions and processes.

"The attack on July 15, 2020, targeted a small number of employees through a phone spear phishing attack. This attack relied on ...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

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Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.