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.


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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.


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Phil on MoneyTalk

 

MoneyTalk: Why markets aren't rattled by Trump's troubles

President Donald Trump has stirred up controversy around the world after meeting with NATO allies and Russia's Vladimir Putin. Yet, U.S. markets are still not far off their record highs. Phil Davis, options strategist and founder of philstockworld.com weighs in on how he's playing the market with options.

[In the next clip], Phil Davis discusses his trade strategy and how options can be used in the current market conditions.

...

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Zero Hedge

California Supreme Court Blocks Proposal To Split Up State From November Ballot

Courtesy of ZeroHedge. View original post here.

The California Supreme Court has shot down a measure that would have allowed Californians to vote on whether the state should be divided into three smaller states, dealing a serious setback to Venture Capitalist (and Elizabeth Holmes superfan) Tim Draper, who has insisted that the state is "ungovernable" in its current form and spearheaded a campaign to split it up.

The Court on Wednesday sided with an environmental group that had challenged the ballot measure, arguing that the reforms demanded by the ballot measure were "...



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Insider Scoop

Comcast Ends Pursuit Of Fox Assets, Will Focus On Sky

Courtesy of Benzinga.

Related CMCSA 'Convergence' Is Key: Credit Suisse Weighs In On The Telecom And Media Sector Raymond James: AT&T To Suffer Extend...

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Digital Currencies

Citadel CEO Says Bitcoin Still A "Head Scratcher" But Billionaire Lasry Sees $40,000 Soon

Courtesy of ZeroHedge. View original post here.

Ken Griffin, the CEO and founder of the Citadel hedge fund, has reiterated his negative stance on Bitcoin (BTC) in an interview with CNBC this morning.

Speaking at the Delivering Alpha Conference in New York, ...



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Chart School

S&P Firms Breakout As Tech Keep The Pressure On

Courtesy of Declan.

Given overnight news and Netflix disappointment I was surprised to see markets finish as strong as they did given comments on the economy by the Fed Chairman.

The S&P opened at support and 'engulfed' the prior day's trading; it's not a true bullish engulfing pattern as this is a reversal pattern and what we have is a breakout but it does contribute to a confirmation of the breakout.


The Dow Jones is inching towards channel resistance. In the context of other indices, it was a low key day...

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Biotech

How summer and diet damage your DNA, and what you can do

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

How summer and diet damage your DNA, and what you can do

Bright sun and fatty foods are a bad recipe for your DNA. By Tish1/shutterstock.com

Courtesy of Adam Barsouk, University of Pittsburgh

Today, your body will accumulate quadrillions of new injuries in your DNA. The constant onslaught of many forms of damage, some of which permanently...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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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 ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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All About Trends

Mid-Day Update

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Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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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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