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You May Be Fucking Double Dead: Double Dip Recession Has Now Become a Green Shoot of Double Dip Recovery

“So much for the double dip we always hear so much about.  Neil Hennessy of Hennessy Funds says we’re on the verge of a double recovery:

“That is the first leg of the double recovery.  In my opinion, the second leg of the double recovery is on the near horizon, and it will be driven by investor confidence.  Every fundamental you can measure for the financial markets, price–to-book ratio, price-to-earnings ratio, price-to-sales ratio, and even price-to-cash-flow, are all at historical lows.  Corporate earnings are at an all-time high.  I believe that these fundamentals provide substantial evidence that there is strong value in the market place today.  I would argue that there are still a few missing ingredients for recovery: job creation, home values and consumer confidence.  What I see happening right now is a slow but deliberate return of confidence among both consumers and businesses.  And I firmly believe that oncebusiness and the consumer return to the marketplace, this double recovery will begin in earnest.  I believe consumer confidence will lead investors back to the equity markets, and that will bolster the confidence of our business leaders to begin spending their cash, expanding and hiring again.  The housing market may take a bit longer to enter this double recovery, but I have no doubt the other ingredients are going to drive growth.”

 

Source

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What To Do With Squatters

“This nightmare took place in Covington, Washington, but it could happen anywhere.

An abandoned home in Crofton Hills suburban development was taken over by squatters. “You’d come home and find them throwing things out of the second-floor window,” neighbor John Wilson told The Seattle Time’s Sanjay Bhatt.

The squatters partied all night and trashed the house and lawn. One of them allegedly threatened to eat Wilson’s dog.

Kicking out the squatters wasn’t easy. The police refused to act because the Crofton Hills Homeowner’s Association had filed a lien against the house’s owner—and no one could get in touch with the owner.”

Full article

what to do ….

[youtube://http://www.youtube.com/watch?v=iQU0JRq_mBY&feature=related 450 300]

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BOJ To Expand Asset-Purchase Fund By Y10T (about $130 Billion)

13 Feb 2012 23:03 EST DJ BOJ Expands Asset-Purchse Program By Y10T, Revises Wording Of Price Target

TOKYO (Dow Jones)–The Bank of Japan decided Tuesday to expand its asset-purchase program again by Y10 trillion and changed the wording of its price target following political pressure to strengthen its commitment to ending deflation.

The central bank’s policy board said it will boost the size of its asset purchase program including low-cost loans–the main tool for credit easing amid near zero interest rates–to Y65 trillion from Y55 trillion.

Only one out of the 11 analysts polled by Dow Jones Newswires had predicted the BOJ to ease. Most BOJ watchers had said that while there were concerns over the impact of the strong yen and the European debt crisis, neither financial nor economic conditions had worsened to levels that warrant immediate further action.

The BOJ policy board also revised the wording of its “understanding of price stability,” saying now it has set a “price stability goal” of 2% or lower in the core consumer price index in the medium- to long-term and a goal of 1% growth for the time being.

The bank had come under criticism that its definition of price stability, the goal it seeks to achieve in its fight against deflation, was too convoluted and vague.

Faced with a prolonged deflation, politicians have stepped up their calls on the BOJ to take fresh action, with some threatening to revise legislation to strip away the central bank’s independence from the government.

The bank’s policy board voted unanimously at the end of a two-day meeting to leave its policy rate–the unsecured overnight call loan rate–in a 0.0%-0.1% range.

The dollar rose against the yen on the BOJ action, climbing to Y77.87 from Y77.59 before the announcement, the highest since Jan. 26.

The additional easing “was certainly a surprise to the currency market,” said UBS senior dealer Hirotsugu Inoue.

Additional easing by a central bank will increase the supply of money in the economy and therefore tend to push down the currency’s level.

The Japanese government bond market rallied on the news with the benchmark 10-year JGB bond futures contract rising to 142.68 from 142.37, pushing the yield down to 0.960%.

The central bank also maintained the size of its asset purchase program–the main tool for credit easing amid near zero interest rates–at Y55 trillion.

Market participants will now focus on Gov. Masaaki Shirakawa’s comments at a press conference from 0630 GMT, to seek an explanation for the move.

-By Megumi Fujikawa and Tatsuo Ito, Dow Jones Newswires; 813-6269-2786; [email protected]

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Former Pitcher Oil Can Boyd Admits to Pitching While using Cocaine

FORT MYERS, Fla. (AP) — Former Red Sox pitcher Dennis “Oil Can” Boyd says he probably pitched under the influence of cocaine “at every ballpark” during his 10-year career.

“There wasn’t one ballpark that I probably didn’t stay up all night, until 4 or 5 in the morning, and the same thing is in your system,” Boyd said in an interview with Jon Miller of WBZ radio in Boston. “It ain’t like you had time to go and do it while you were in the game, which I have (done) that.”

Boyd was 78-77 with a 4.04 ERA in his career. In eight seasons with the Red Sox, from 1982-89, he was 60-56. In his last two seasons, he was 18-21 with Montreal and Texas.

“Some of the best games that I’ve ever, ever pitched in the major leagues, I stayed up all night. I’d say two-thirds of them,” he said Wednesday at JetBlue Park, where Boston holds spring training, “and if I had went to bed, I would have won 150 ballgames in the time span that I played and … I felt like my career was cut short for a lot of reasons.”

One of them, he said, was “bigotry.”

Boyd said he “wasn’t doing anything that hundreds of ballplayers weren’t doing at the time, because that’s how I learned it and I just caught the deep end of it. And the reason, too, also, that I caught the deep end of it (is) I’m black and the bottom line was that the game carries a lot of bigotry and that was just an easy way for them to do it.”

He said that “If I wasn’t outspoken and so-called `a proud, proud black man’ maybe I would have got empathy and sympathy like other ballplayers got that I didn’t get; like a Darryl Strawberry or Dwight Gooden, Steve Howe. I can name 50 people that got third and fourth chances all because they weren’t outspoken black individuals.”

Read the rest here.

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Today’s Industry Highlights

Today’s Industry Highlights

Top Performing Industries % Change
Foreign Money Center Banks +2.18%
Money Center Banks +1.84%
Cleaning Products +1.81%
Residential Construction +1.72%
Music & Video Stores +1.71%
View Leaders & Laggards…
Worst Performing Industries % Change
Home Health Care -2.60%
Lumber, Wood Production -1.14%
Consumer Services -1.00%
Copper -0.85%
Information & Delivery Services -0.78%
View Leaders & Laggards…

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