July, 2009

Friday July 31, 2009

Submitted by Will Profit on Fri, 07/31/2009 - 10:12
in

Another week of govt/media spin and hype. Another move up on the indices. I ain't gonna waste the entire day watching another low volume move up. Tonight is poker night, and I believe it's time to begin lubricating/saturating myself with alcohol immediately in preparation. Here are some most excellent music vids. Enjoy.

Gross Domestic Propoganda

Submitted by Will Profit on Fri, 07/31/2009 - 08:24
in

edited to include breaking news. Caterpillar Inc Africa Pty. Ltd. Announces Boksburg Facility Closure
- Caterpillar Africa Pty. Ltd. will close its Boksburg, South Africa, manufacturing facility. The decision follows consultations with the unions and non-unionized employees that took place over the past two months. The consultations were done in full compliance with South African labor legislation and have concluded.

With Christmas you get eggroll

Submitted by Will Profit on Thu, 07/30/2009 - 22:57
in

h/t bonehead

Do you believe the lie that China, China, China will save the global economy? Think again Sparky.
How about some Sweet and Sour Debt?:

Singapore June Credit Card Billings: 2.2B v 2.0B prior
Credit Card bad debts: 17.7M v 16.4M prior
--------------------------------------------------------------------------------------------------------------------------
Sears Holding Corp. Is among the retailers that have started promoting Christmas shopping to attract customers

The Heads I Win, Tails You Lose Bank Bonus Culture

Submitted by Will Profit on Thu, 07/30/2009 - 12:07
in

Put me in coach. The game is all psychological.
Everything you wanted to know about calculating bank bonuses but were afraid to ask.

Andrew M. Cuomo
Attorney General
State of New York

NO RHYME OR REASON:
The Heads I Win, Tails You Lose I Bank Bonus Culture

Third Eye Blind

Submitted by Will Profit on Thu, 07/30/2009 - 11:25
in

Three blind mice, three blind mice, see how they run, see how they...

"Green goo" revealed toxic leak at WV zinc plant

For at least five years before Rebecca Morlock noticed what she calls "a green goo" seeping out of the ground below a former zinc-smelting plant in the town of Spelter, water loaded with potentially toxic heavy metals was trickling into the West Fork River.

State environmental inspectors didn't spot it, even though they're required to walk the site twice a year.

Bernanke: Shaken, not stirred

Submitted by Will Profit on Thu, 07/30/2009 - 09:37
in

Is it just me or is Bernanke speaking in this video as if the studio audience are all members of the American Bankers Assocciation? He makes excellent points concerning the need to continue operating under a veil of secrecy. Because if the truth were to be found, oh, say as the result of an audit, The Fed would be a pile of ashes. At least we are getting some transparency. I don't know about you, but I can see right through his flimsy arguements concerning, gasp, cough, cough, reigning in the rogue, criminal operation known as the Federal Reserve. Christ Ben, get a grip.

2 + 2 = 25 or 6 to 4

Submitted by Will Profit on Thu, 07/30/2009 - 08:10
in

Bloomberg surprises me every once in a while. Kudos to David Pauly:

[In analystspeak, Intel Corp. wasn’t hit with a $1.45 billion fine from the European Union in the second quarter for anticompetitive practices.

Todays pre market fantasy

Submitted by Will Profit on Thu, 07/30/2009 - 07:21
in

Well for Gods Sake. Just what the hell did Motorola do this quarter?:
Bloomberg:
Motorola Posts Narrower Loss Than Analysts Predicted as Revenue Drops 32%

Yahoo Finance:
Motorola posts unexpected 2Q profit

Initial jobless claims:
584k - up 25k from last week - highest in a month

The four-week average of claims fell by 8,250 to 559,000, and continuing jobless claims also dropped, by 54,000 to 6.19 million. The four-week average of continuing claims fell by 131,750 to 6.41 million.

Spam Email From A White Horse Souse

Submitted by Will Profit on Wed, 07/29/2009 - 21:31
in

I received the following email today. This is no joke.

Dear Friend,

If you’re like most Americans, there’s nothing more important to you about health care than peace of mind.

Given the status quo, that’s understandable. The current system often denies insurance due to pre-existing conditions, charges steep out-of-pocket fees – and sometimes isn’t there at all if you become seriously ill.

The Macho Barney Frank

Submitted by Will Profit on Wed, 07/29/2009 - 15:37
in

Regarding the ever expanding need Barney Frank has to further prove he knows NOTHING of economics or Finance:
Now Barney is threatening banks who don't volunteer to modify a larger number of homeowners facing foreclosure.
How does he plan to kick lender ass and get them with the program?:

Congress will revive legislation that would let bankruptcy judges write down a person's monthly mortgage payment if the number of loan modifications remain low.