Run for the hills.
Comments »Yearly Archives: 2011
EU Finance Ministers Approve a $10.7 Billion in Rescue Funds to Greece
FLASH: EFSF to Guarantee 20-30% Sovereign Bond Risk
EFSF to enter short term market,
Providing 20-30% of credit protection for sovereign debt
A co-investment fund will assist in support
Euro up slightly
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S&P Downgrades 37 Banks on New Review Rules
Bulls Manage to Hold on To the Ball…Just Barely
DOW up 33
NASDAQ down 11
S&P up 2.75
1200 S&P proved to be a major hurdle today. Perhaps tomorrow.
Obama Hits Record Low; Now Rated the Worst American President Below Jimmy Carter
Britain Admits Austerity is Not Working
MF Global Trustee to Return $2.1 Billion to Customers; Bringing the Total Return to $4.1 Billion
Customer accounts are still missing a whopping 22%. Hopefully that figure will not rise any further.
Comments »Cyber Monday Turns Out Potentially Record Breaking Sales (video)
The 6th ever cyber Monday seems to have done better than expected when it comes to online sales.
Companies like IBM reported a 33% increase in online sales yoy.
Comments »Today’s Money Flows
ISSUE GAINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
Youku.com ADS YOKU NYSE 17.50 +42.7 5.78
Pharmasset VRUS NASD 132.18 +38.2 1.45
Lowe's Cos LOW NYSE 24.18 +29.2 1.58
FedEx FDX NYSE 78.97 +19.9 1.75
Microsoft MSFT NASD 24.89 +18.3 1.25
Citigroup C NYSE 25.06 +16.0 1.09
Coach COH NYSE 60.43 +14.0 1.23
iShs Brclys Aggregate Bd AGG ARCA 109.58 +13.8 1.98
Time Warner Cbl TWC NYSE 57.91 +13.2 1.55
iShrs MSCI Canada EWC ARCA 26.13 +13.2 3.42
PepsiCo PEP NYSE 63.70 +12.6 1.30
Sanofi ADS SNY NYSE 33.70 +12.6 2.17
AT&T T NYSE 28.20 +12.0 1.30
BP PLC BP NYSE 41.01 +11.6 1.67
Brclys 1-3 Yr Trsry Bd SHY ARCA 84.52 +11.5 1.83
Select Sector SPDR-Energy XLE ARCA 67.39 +11.4 1.16
Hewlett-Packard HPQ NYSE 27.12 +10.8 1.19
Corning Inc GLW NYSE 13.03 +10.8 1.10
IBM IBM NYSE 181.83 +10.8 1.09
Intel INTC NASD 23.73 +9.8 1.16
ISSUE DECLINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
Apple AAPL NASD 373.89 -74.2 0.94
iShrs Russell 2000 IWM ARCA 69.51 -69.3 0.78
SPDR S&P Bank KBE ARCA 17.96 -60.9 0.03
SPDR S&P MidCap 400 ETF MDY ARCA 153.16 -59.9 0.54
JPMorgan Chase JPM NYSE 28.50 -59.7 0.69
Post Properties PPS NYSE 37.56 -36.2 0.06
Computer Sciences CSC NYSE 23.26 -35.2 0.17
Mkt Vectors Russia Tr SBI RSX ARCA 29.40 -32.5 0.27
General Electric GE NYSE 14.91 -31.6 0.78
ExxonMobil XOM NYSE 77.15 -28.1 0.81
Brclys 20+ Yr Trsry Bd TLT ARCA 120.13 -27.2 0.76
Direxion Daily Sm Bear 3x TZA ARCA 34.41 -21.4 0.89
iShs Tr DJ U.S. Real Es IYR ARCA 52.51 -20.0 0.47
Southern Union SUG NYSE 40.83 -18.6 0.47
Vertex Pharm VRTX NASD 27.17 -16.6 0.48
Tiffany & Co TIF NYSE 66.85 -16.4 0.89
Google GOOG NASD 584.52 -16.2 0.94
iBoxx InvesTp Inv Grde Bd LQD ARCA 110.37 -14.7 0.61
Bank Of America BAC NYSE 5.08 -14.2 0.92
Republic Svcs RSG NYSE 26.76 -13.7 0.33
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Best Place to Live: Vienna, Worst: Baghdad
Vienna’s excellent infrastructure, safe streets and good public health service make it the nicest place to live in the world, consulting group Mercer said in a global survey which put Baghdad firmly in last place.
German and Swiss cities also performed especially well in the quality of living rankings, with Zurich, Munich, Dusseldorf, Frankfurt, Geneva and Bern in the top 10.
The Austrian capital, with its ornate buildings, public parks and extensive bicycle network recently reduced the cost of its annual public transport ticket to 1 euro a day.
Serious crime is rare and the city of around 1.7 million inhabitants regularly tops global quality of life surveys.
But Mercer warned that top-ranking European cities could not take their position for granted in the survey, which assessed more than 200 cities.
“They are not immune to any decrease of living standards should this (economic) turmoil persist,” Mercer’s senior researcher Slagin Parakatil said on the company’s website.
Mercer, which also ranked cities according to personal safety, gave Athens a poor score because of clashes between demonstrators and police and political instability.
“In 2011 Athens is ranked in Europe among the lowest in the personal safety ranking,” Parakatil said.
Oslo also fell to 24th place in the separate safety survey because of Anders Breivik’s mass killings in July. It would usually be in the top 15, Mercer said.
Baghdad’s political turmoil, poor security enforcement and attacks on local people and foreigners made it the worst place to live in 2011, both in terms of life quality and safety, Mercer said.
Political and economic unrest in Africa and the Middle East also pushed down scores in those regions.
“Many countries such as Libya, Egypt, Tunisia and Yemen have seen their quality of living levels drop considerably,” Parakatil said.
“Political and economic reconstruction in these countries, combined with funding to serve basic human needs, will undoubtedly boost the region.”
He said that while the outlook is uncertain for most of the world because of economic and political turmoil, cities in Asia-Pacific look set to benefit thanks to political stability and solid growth.
Auckland, Sydney, Wellington, Melbourne and Perth made it into the top 20 for quality of life in 2011 while Singapore was the highest-ranking Asian city in 25th place.
Top 10 in Mercer Quality of Living survey
1 Vienna Austria
2 Zurich Switzerland
3 Auckland New Zealand
4 Munich Germany
5 Dusseldorf Germany
5 Vancouver Canada
7 Frankfurt Germany
8 Geneva Switzerland
9 Bern Switzerland
9 Copenhagen Denmark
Full city rankings: bit.ly/syDUPF
(Reporting by Sylvia Westall)
Comments »Rand Paul: If NDAA Passes the “Terrorists Have Won”
U.K. Gilt Makes a Historic Run
The U.K. gilt or bonds are yielding more than Germany at the current moment. Fitch says the U.K. is becoming the second most indebted sovereign behind the U.S.
Comments »Just Out of Brussels: EU Rehashing IMF Help as Leveraging EFSF Will Prove Nearly Impossible
More talks of talks on plans of plans. This will lead to rumors of rumors on plans to plan talks in creating a plan.
Comments »BP Will Secure $240 Million for EPA Violations
BP will put up just under $500k to secure $240 million in resolving EPA drinking water violations.
Comments »Fed’s Lockhart Is Skeptical New Fed Action Will Help the Economy
" --Lockhart supports current course of monetary policy --Lockhart remains open to asset buying if circumstances warrant --Lockhart: Fed shouldn't take any options off the table --Lockhart: Unemployment to fall slowly through 2012 --Lockhart: US 4Q GDP likely between 2.5%-3% --Lockhart: Europe can wound US most via unsettled financial markets By Michael S. Derby Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)–Expanding the Federal Reserve balance sheet via new purchases of bonds isn’t the tonic the economy needs right now, even as European financial woes threaten the outlook for the U.S., a central bank official said Tuesday.
“I am skeptical that further asset purchases will produce much gain in terms of increased economic activity,” Federal Reserve Bank of Atlanta President Dennis Lockhart said. “I don’t believe further bond purchasing by the Fed is a potent policy option given the set of circumstances we currently face.”
Lockhart is currently a voting member of the monetary policy-setting Federal Open Market Committee, and his comments came from the text of a speech he was to deliver before an event held by the University of Georgia Terry College of Business. The official spoke amid rising expectations the weak state of the economy and high unemployment will soon drive the Fed to expand its balance sheet beyond the current $2.8 trillion level, most likely through purchases of mortgage securities.
Central bankers have been debating in public comments the need for additional stimulus over recent weeks. While a number are uncomfortable with going beyond what the Fed is already doing–it has short-term interest rates near zero and is tweaking its current holdings to make overall credit cheaper–a key faction of officials are leaning toward doing more. These officials include New York Fed President William Dudley, vice chair of the FOMC, and Fed second-in-command Janet Yellen, who said Tuesday “the scope remains to provide additional accommodation through enhanced guidance on the path of the federal funds rate or through additional purchases of longer-term financial assets.”
Opponents of additional asset buying worry that in a time where many households are looking to cut debt, making credit cheaper simply won’t do much for the economy.”
Comments »Europe’s Sovereign Debt Crisis Pushes World Into a Near Frozen Banking State
Herman Cain Most Likely Down for the Count After Woman Publicly Announces a 13 Year Affair With Presidential Hopeful
Wonder what the wife is saying at this point ? At any rate, this latest blow to Cain has dramatically hurt his ability to raise money.
Comments »El-Erian: Europe Has Three Choices Including Collapse (video)
“1) “Fragmentation of the euro zone,” in which the 17 member nations would go their own way, which he said would be “incredibly disruptive not just for Europe but also for the global economy.”
2) “Full fiscal union,” in which the nations adopt uniform financial reforms that would be more political in nature.
3) A “middle ground” in which a “smaller but stronger euro zone” emerges where as many as three countries default on their debt and exit the EU.”
Comments »Could Home Ownership Fall to 1963 Levels ?
Home owners and investors are moving toward a deflationary perspective. Interest in a long term commitment are diminishing despite record low home prices and interest rates.
Forecast predict 62% home ownership by 2015.
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