SubscribeLinks and Reading for October 31st
October 31, 2009
Some of the more interesting and important items for October 31st :
- Time Warner to take $100 million charge on Time cuts – Ouch
- U.S. Bancorp Acquires Nine Banks Seized by Regulators, Accelerating Growth – The small shall die and give birth to a monster
- Union Rejects Ford Deal – Here we go again…
- White House: 650,000 jobs created or saved – Really? Come on, what happened to 4,000,000
- UhOh for MoMo : The Disciplined Investor – What a change over the past few days. Aside from sentiment, stocks have stage a remarkable turn that is showing up in their harsh move below key averages.
- China to pursue trade case against US automakers – In 1928, Hoover ran on a platform of higher tariffs designed to protect farmers from European competition. Congress passed the Smoot-Hawley Tariff Act in 1930; Hoover signed the bill although economists protested. It is unlikely that tariffs alone caused the Great Depression, but they fostered global protectionism; world trade declined by 66% from 1929 to 1934.
- Mean Street: GMAC = Insanity – And this time around, it’s going to cost us another $5.6 billion in new preferred equity plus another $7.4 billion in government guaranteed debt. That makes a grand total of $25.5 billion of our money committed to GMAC. So far, that is.
Now you may be thinking, “Big deal. What’s a few billion more amidst the hundreds of billions in TARP bailouts.”
S&P Sector Scorecard – The October Carnage
October 30, 2009
The month was tough. More ups and downs than a yo-yo. In the end, the bears were finally triumphant in beating down the bulls. This is the first time that we have seen a down month for the major indicies since March.
Below is the snapshot. Click Read more
Spending, Income and Savings , OH MY!
October 30, 2009
The numbers posted today are a touch concerning as we are seeing the biggest drop in spending over the past 9-months. This ties into the drop in consumer sentiment numbers we saw earlier this week. Retailers may not take well to this trend.
Wages and salaries that had been on the mend are again dipping and have seen the a massive drop on a year over year basis. That is caused by the combination of less hours worked and the lesser shown side-effect of Read more
DHUnplugged 38: Is the Market About to Collapse?
October 29, 2009
Here is our latest conversation…. new insights for anyone who invests in anything. This week we highlight a discussion about specific stocks to examine. Plus: Is the market setting you up for a crash?
Links from Show can be seen HERE
___ Read more
Behind the GDP Number
October 29, 2009
From Dismal.com, with comments below each section:
The expansion of real GDP in the third quarter is the clearest indication yet that the deepest recession in the U.S. since the Great Depression is now over. However, the recovery remains very dependent on support from fiscal and monetary policy.
Of course we have seen some benefits from the stimulus, but not enough. Between the red tape and the pork it is estimated that only a fraction of the 50% that is said to have been utilized ever stimulated. Read more
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