Posts Tagged ‘US consumers’

Tim Geithner Has Completely Forgotten the Point of TARP, Calls it a Success

Tim Geithner Has Completely Forgotten the Point of TARP, Calls it a Success

Courtesy of Jr. Deputy Accountant 

Maybe Tim Geithner was too busy scheming on backroom bailouts running the NY Fed around the time TARP was passed but it appears as though he has forgotten that its original intention was to foster improved credit conditions for US consumers. OK wait, its truly original intention was to buy up crap assets but that got ditched shortly after it was passed so let’s go with "bank lending" instead. Either way, he seems to be confused as to the definition of "working".

CNN Money:

Treasury Secretary Tim Geithner defended the government’s bailout of the financial system on Tuesday, saying it has been a "critical" part of the economic recovery and will ultimately cost less than expected.

Geithner is testifying before the Congressional Oversight Panel, the main watchdog for the Troubled Asset Relief Program, or TARP. The government enacted TARP in 2008 at the height of the financial crisis. The program is due to expire in October.

While the economy remains challenged, Geithner said TARP and other "extraordinary actions" taken to combat the financial meltdown "have helped stabilize the financial system and restore economic growth."

So what WAS the goal, exactly, Timmy? Free money for the bankers? Some kind of sick money laundering operation using the sick banks to buy up Treasury debt? You tell me since you’re the one who seemed to think it worked out the way it was supposed to.

I’ll be over here waiting for credit markets to unfreeze whenever you’re ready to talk.


Tags: , , , , , , , ,




Case-Shiller: housing double dip threat as only 4 of 20 markets rise

Case-Shiller: housing double dip threat as only 4 of 20 markets rise

Courtesy of Edward Harrison at Credit Writedowns 

The December 2009 data for the widely followed S&P/Case-Shiller Indices were released this morning.  The data are showing a mixed picture. On the one hand, the unadjusted numbers are down on both a month-to-month and year-over-year basis (Composite-10 and Composite-20 respectively down 2.5% and 3.2% versus December 2008). Only four of twenty markets saw price increases. However, the seasonally-adjusted data do show a slight improvement in markets on a month-to-month basis, despite year-over-year price declines.

Below are the non-seasonally adjusted data:

case-shiller-2009-12

What is clear from the numbers is that the markets in which prices are now doing the best are mostly the same ones that had both experienced the greatest carnage and had also experienced a prior price bubble. This includes Phoenix, LA, San Diego, San Francisco, and Las Vegas. You see yearly home price increases in California for example. Moreover, the only four markets where prices increased month-to-month were in the previously devastated bubble markets of Phoenix, Las Vegas, San Diego and Las Vegas.

The breadth of price increases has now narrowed to 4 of twenty markets. And that has to be worrying whether you are looking at unadjusted winter month data or seasonally-adjusted data. Since June, the number of markets in the Composite-20 where prices have risen has gone from 18 in June to 18 in July, 17 in August, 10 in September, 8 in October, 5 in November and 4 in December.

Some analysts are unfazed by the fall in the number of markets with price increases. They believe the declines are seasonal in nature and that by Spring the market will be back to rising modestly. However, I believe a housing double dip is a distinct possibility given recent concerns about shadow inventory, strategic defaults and rising option-ARM resets.

The underlying U.S. economy sans fiscal and monetary stimulus is weak. Moreover, U.S. consumer confidence is fragile. In this environment, any renewed price declines in home prices will leak into the real economy. So, this data series bears watching.


Tags: , , , ,




 
 
 

Phil's Favorites

Why big businesses move their headquarters around the world - tax, talent and trepidation

 

Why big businesses move their headquarters around the world – tax, talent and trepidation

Shutterstock

Courtesy of Carmen Raluca Stoian, University of Kent

Ever since the EU referendum of 2016, well-known companies have announced decisions to relocate outside of the UK. Electronic giant Panasonic has gone to Amsterdam, where ...



more from Ilene

ValueWalk

Ray Dalio Gives 3 Financial Recommendations For Millennials

By Jacob Wolinsky. Originally published at ValueWalk.

Founder, Chairman and Co-Chief Investment Officer of Bridgewater Associates Ray Dalio talks to Julia La Roche in 2018 of Yahoo Finance about the value of savings and investing.

Ray Dalio Gives 3 Financial Recommendations For Millennials

Q4 hedge fund letters, conference, scoops etc

Trans...



more from ValueWalk

Kimble Charting Solutions

Giant Topping Pattern Could Be Forming, Says Joe Friday

Courtesy of Chris Kimble.

The first fact of the day; The long-term trend for tech remains up and the decline into the lows on Christmas Eve DID NOT break this trend!

This chart looks at NDX 100 ETF (QQQ) on a weekly basis over the past 14-years. For the past decade, since the lows in late 2009, QQQ has remained inside of rising channel (1). As you can see the decline into the end of the year lows, did nothing more than test support, which held and a strong rally has followed!

Over the past few months, QQQ could be forming a “Head & Shoulders&...



more from Kimble C.S.

Zero Hedge

Yesterday's Perfect Recession Warning May Be Failing You

Courtesy of ZeroHedge. View original post here.

Authored by Michael Lebowitz via RealInvestmentAdvice.com,

Recently, Wall Street and the Financial Media have brought much attention to the flattening and possible inversion of the U.S. Treasury yield curve.  Given the fact that an inversion of the 2s/10s Treasury yield curve has predicted every recession over the last forty years, it is no wonder that the topic grows in stature as the difference between the 2-year Treasury yield and the 10-year Treasury yield approaches zero. Unf...



more from Tyler

Insider Scoop

Salesforce.com's Q4 Report Should Trigger Higher Valuation, Says Bullish Oppenheimer

Courtesy of Benzinga.

Related CRM Oppenheimer Praises HubSpot's Execution, Downgrades On Valuation Benzinga's Top Upgrade...

http://www.insidercow.com/ more from Insider

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: Thursday, 02 August 2018, 07:48:20 PM

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


Comment: $600 BN interest payments for US gov, print baby print



Date Found: Sunday, 05 August 2018, 09:22:26 PM

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


Comment: Hire FED interest rates always brings double trouble



Date Found: Monday, 06 August ...

more from Chart School

Digital Currencies

Cryptos Are Surging: Bitcoin, Ethereum Hit One-Month Highs As Institutions Dip Toes

Courtesy of Zero Hedge

Cryptocurrencies are surging while the US equity markets take the day off. Ethereum is up over 18% from Friday's 'close' and the rest of the crypto space is a sea of green. While no immediate catalyst (headline or technical level) is clear, increasing chatter over institutional investors dipping their toes in the space have prompted an extension of the positive trend.

A sea of green...

Source: Coin360

Ethereum is leading the charge follow...



more from Bitcoin

Biotech

Cancer: new DNA sequencing technique analyses tumours cell by cell to fight disease

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

 

Cancer: new DNA sequencing technique analyses tumours cell by cell to fight disease

Illustration of acute lymphoblastic leukaemia, showing lymphoblasts in blood. Kateryna Kon/Shutterstock

Courtesy of Alba Rodriguez-Meira, University of Oxford and Adam Mead, University of Oxford

...

more from Biotech

Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



more from Our Members

Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



more from M.T.M.

OpTrader

Swing trading portfolio - week of September 11th, 2017

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

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



more from OpTrader

Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

more from Promotions





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...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>