DOW off 312
S&P off 34
NASDAQ off 75
[youtube://http://www.youtube.com/watch?v=otdHbA4GlSI 450 300]Comments »
Monthly Archives: November 2012
U.S. Panel Approves Tariffs on Chinese Solar Imports
For the next five years duties will be placed on Chinese imports of solar panels to help U.S. producers. Let the trade wars begin. China calls it protectionism and says it will hurt consumers in the end.
Comments »Fitch Says Get to Work on the Fiscal Cliff or Face Recession
There Will Be No Peace in Austerity Stricken Europe
The Greeks are rioting during a vote to reign in spending and install austerity measures. The problem is Greece is not the exception to the rule when it comes to protesting. Get ready for a whole lot of economic disruption in Europe.
Comments »Hospital and Healthcare Stocks Escape Destruction With Obama Win
“HCA Holdings Inc. (HCA) and other hospitals will get more paying customers while insurers likeUnitedHealth Group Inc. (UNH) will see profits squeezed as U.S. President Barack Obamamoves to preserve the health-care overhaul he championed.
Obama’s re-election rallied shares of HCA Holdings Inc., the largest for-profit hospital company, by 9.2 percent at 12:17 p.m. while Community Health Systems Inc. (CYH) and Tenet Healthcare Corp. (THC) also gained on prospects for millions of newly insured patients being added to their admission rolls. UnitedHealth, the largest U.S. medical insurer, fell 4.6 percent, and WellPoint Inc. (WLP) and Humana Inc. (HUM) declined as the industry faces profit limits and new taxes to help pay for the coverage expansion.”
Comments »Majority Leader Harry Reid Says The Senate Win for Democrats Will Help Bring About a ‘Balanced Approach’ for Year End Deficit Reduction
“U.S. Senate Majority Leader Harry Reid pledged to use the expanded number of Senate Democrats to push for a “balanced approach” to reaching a year-end deficit- reduction agreement.
The Nevada Democrat spoke to reporters a day after Democrats increased their Senate majority over Republicans by two seats, from the current 53-47 to 55-45 if a Maine independent caucuses with Democrats as expected.”
Comments »Oil Gets the Homo Hammer
Consumer Credit Grows More Than Expected in September
“Consumer credit in the U.S. increased in September for a second month, led by a pickup in borrowing for education and automobiles.
The $11.4 billion gain followed a revised $18.4 billion jump in August, Federal Reserve figures showed today in Washington. The median forecast of 34 economists surveyed by Bloomberg called for a $10.2 billion increase in September.
Improving labor and housing markets may be giving households enough confidence to take on more debt as they finance purchases that account for about 70 percent of the economy. Auto sales in September that were the strongest in more than four years showed some Americans took advantage of cheaper borrowing costs.
“Overall, things are looking a bit brighter, and the U.S. economy is doing relatively better,” Yelena Shulyatyeva, an economist at BNP Paribas SA in New York, said before the report. “Consumers see housing prices going up and that makes them more confident about their balance sheet, and consumer confidence makes them spend more.”
Comments »Goldcorp’s Jeannes: Gold Will Soar to $2,000 Next Year
“Gold has risen 9 percent so far this year, and the party’s only getting started, says Charles Jeannes, CEO of Goldcorp Inc., the world’s second-largest producer of the metal.
He sees gold reaching $2,000 an ounce within six to 12 months. That represents a gain of 16 percent from the spot price of $1,726 early Wednesday.
“The fundamentals of our product in terms of supply and demand are very positive,” Jeannes tells CNBC. “There will be short-term volatility, but we’re very bullish on the longer-term price.”
Comments »Experts: Economic Recovery Is an Illusion
“The U.S. economic recovery could be a mirage that will disappear, according to experts cited by U.S. News & World Report.
While a lot of the recent economic news appears to be favorable, much of the improvement is due to government intervention. Whether the economy can continue to strengthen without continuous government help remains unclear.
“We have questions about the economy that have never been asked before,” Ron Weiner, founder and president of wealth-management firm RDM Financial Group, told U.S. News.
Comments »Butowsky to Moneynews: Brace for Rising Inflation After Obama Victory
With the re-election of President Barack Obama, investors need to prepare for inflation that will result from the fiscal and monetary stimulus programs rolled out under the administration’s first term, said Ed Butowsky, managing partner at Chapwood Capital Investment Management.
Under the president’s first term, fiscal stimulus programs such as the American Recovery and Reinvestment Act and the president’s Affordable Care Act, otherwise known as Obamacare, ramped up spending and laid the groundwork for higher taxes.
The Federal Reserve, meanwhile, slashed interest rates to near zero and pumped the economy with trillions of dollars in fresh liquidity via a monetary policy tool known as quantitative easing, under which the U.S. central bank buys bonds from banks and floods the economy with excess money supply to encourage investing and hiring.
Sooner or later, inflation will follow suit and rock-bottom interest rates will rise, so investors need to prepare today, Butowsky told Newsmax TV in an exclusive interview.
Watch our exclusive video. Story continues below.
Comments »$S Makes a Bid for Spectrum for $480 Million
“Sprint today announced that it has made an arrangement with U.S. Cellular to acquire PCS spectrum and also wireless network customers for $480 million in cash, and Sprint’s taking over of “certain liabilities” on behalf of U.S. Cellular. The arrangement will help Sprint bolster its own network as it rolls out LTE nationally, the company said in a press release, helping to beef up network capacity. U.S. Cellular customers in Illinois, Indiana, Michigan, Missouri and Ohio, 585,000 in total, will also become Sprint customers as part of the deal.”
Comments »Hats Off to Nate Silver as He Destroyed Every Major Pundit
Desperate for Money, Elementary School Turns to Brothel for Help
NY & NJ Call for Evacuations As a Nor’easter Rumbles Up the East Coast
“The Most Important and Eye Opening Charts in the World”
Markets Circle the Drain
Well to circle the drain implies you have already gone down pretty badly. The markets have had some resilience in the face of monumental obstacles for the past few months. Today’s start does not bode well for the bulls.
DOW off 200+
S&P off 22
NASDAQ of 45
WTI down $2.64
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