Archives 7/2/09 Big Pay Packages Return to Wall Street Snippet: Compensation on Track to Soar as Earnings Recover From Crisis; 'Like It's 2007 Again' Boston Globe I screen, you screen, we all screen (about reading from screens) Optimism about the economy stalls - poll Snippet: WASHINGTON (CNN) -- A new national poll indicates that nearly half of all Americans think the economy has stabilized, but only one in eight believes that a recovery has started. Is the Black Gold Rally Over? Snippet: A weakening dollar will keep commodity bugs aflutter, but what can it mean for commodity prices; gold and oil in particular? The chart below shows my June... Snippet: Obama's jobless 'recovery' - unemployment at 9.5% Snippet: Despite all the happy talk that there are signs that the economy is improving, or at least bottoming out, there is little hope that the unemployment rate will improve anytime soon. Strategists Worry Obama's Popularity is Dropping Snippet: Some worry Obama's honeymoon with the public and the media may be over Are We Getting Too Old? Snippet: Another huge economic crisis is looming because, for developed countries, in the 80's, 5 workers supported a retired person. This has dropped to 4:1 and will crash to 2.2:1 in 2050. Why Nasdaq Beat the Blue Chips Snippet: The tech-heavy index trounced the Dow and S&P 500 in the first half of 2009. But have tech stocks outpaced the economy, too? The 'Cash for Clunkers' Law Looks Like a Lemon Snippet: Not enough new-car buyers can take advantage of it, and the program may even put more gas guzzlers on the road Manhattan home prices plunge Snippet: Prices fell between 13% and 19% compared with the same quarter last year. The brokers found median prices that ranged from $795,000 to $849,000. YES IT CAN GET WORSE Snippet: The real unemployment number reached 16.5% today. This includes people who can't find jobs, but would like one. Also, another 300,000 people left the workforce. 'We're in the Middle of a Crash': Black Swan Snippet: The financial system is crashing and action must be taken by the US government to convert debt into equity to produce a more stable environment, Nassim Taleb... Did Free Trade Cause the Recession? Snippet: Let's have national policies that prevent exploitation of workers and the environment and that share prosperity. This is a choice between lifting each other up or continuing a spiral to the bottom. Obama’s not helping financial mess Snippet:...Although President Obama was wise enough to at least launch a job-stimulus program, a far greater amount of federal funding benefits Wall Street as opposed... How Come the Economic Stimulus Isn't Working? Snippet: Unfortunately, the economic stimulus program underway does not get high marks in any of the three categories as this piece from Bruce Bartlett points out... Here Comes The Second Stimulus! Snippet: Today's disappointing jobs number is certain to trigger a serious push for a second stimulus bill. US to Trade Sideways 'for a While:' Strategist (video) Snippet: We're really going to see more of a sideways market for a while. Investors are very cautious; they've been whipsawed coming out of the fall and winter... Never-Ending Government Lies About Markets Snippet: The purpose of government is for those who run it to plunder those who do not. Throughout history, governments have used violence, intimidation, coercion... Previewing the Employment Situation Reports Snippet: In addition to the consensus forecasts, there are various predictions using proprietary data. These are all interesting. Economists React: Jobs the ‘Achilles’ Heel’ of Recovery Snippet: This was a very ugly labor market report, and there is no amount of lipstick that can improve its image. Indeed, not only does it suggest that the pace of job losses in the U.S. remains very high,... Job Market Worsens: No Sign Stimulus Helping Labor Market Snippet: ...new statistics indicate the job market has worsened and that the stimulus package isn’t doing anything yet on the labor front. Did the President want to STIMULATE jobs or STIMULUS jobs ? Snippet: Its been four months now and no one can tell me what has happened to the stimulus money. It definitely hasn’t produced many if any jobs. After being in the unemployment lines Bull Market Confirmed Snippet: After a generational bear market, the overriding temptation for most investors is to deny the new bull. Don't miss this one. Why I'm Still Bearish Snippet: It would be nice to believe the optimists' argument that everything's fine now, but the evidence simply suggests otherwise. The Average Worker's Work Week Has Never Been Shorter Snippet: Obama defenders will argue, yet again, that the stimulus can work, and that it will work, but that we just haven't given it enough time. Market Is Ready for a Move, But in Which Direction? Snippet: One could also make the case that we are in a sideways consolidation, that this is the “correction,” and that a break out of the 93 to 96 level, the SPY should advance as high as 106. Gross: Fear And Poverty Will Clobber Returns For A Generation Snippet: Specifically, the economy will likely grow at 2% per year instead of 3.5%, and long-term profit growth will be similarly walloped. Nymex trader shares his outlook on oil for the second half of 2009 Snippet: His forecast for the rest of 2009 includes volatility and a pullback to the $60 level and maybe lower. Mission: Shrink - Forget Main Street, just save Wall Street Snippet: Well, in just a few months, we've gone from saving the banks in order to save the economy to just saving the banks. It's the opposite of mission creep. Snippet: Obama All Talk, No Action on Wall Street Compensation, Cohan Says Snippet: Goldman is on track to pay out as much as $20 billion this year, or about $700,000 per employee. That would be nearly double the firm's ... Obama Jobs Deficit Swells Again by Nearly Half a Million Snippet: Today's release of the nation's employment figures by the Department of Labor (DOL) show that the nation is still waiting for even a few of President Obama's 3.5 million jobs saved or created... S&P 500 May Look To Extend Gains From Golden Cross Over Medium Term Snippet: Expect resistance from Fibonacci at 8642. This is the 61.8% retracement of the decline from 8878 as well as where waves A and C of a zigzag correction would be equal. President can't seem to kick his pork addiction Snippet: As a result, we’re now stuck with some of the most absurdly counterproductive legislation imaginable. The national debt is growing faster than the GDP. Official Unemployment Numbers Understate the Problem Snippet: ...more than 2/3 of the meager job growth of the past 10 years has been in government jobs, not in the private sector... Federal Reserve: Same Old Sheriff on Wall St. Snippet: The Fed already was tasked with bank oversight, but allowed the excess and recklessness to continue due to lack of transparency and accountability. Pullback Will Be Small (video) Snippet: Any correction in the markets will be fairly light, says Geoff Lewis, head of investment services at JPMorgan Asset Management... The Science of Economic Bubbles and Busts Snippet: The worst economic crisis since the Great Depression has prompted a reassessment of how financial markets work and how people make decisions about money... Next Stop for Gold Is $2,100 Not $1,300 Snippet: Practically everyone in the gold community has mentioned the inverse head and shoulders pattern on the gold chart and the corresponding $1,300 target. Phase II Of The Recession Looms In 2010 Snippet: The recovery seemed so certain just a month ago. The American economy would be out of the recession before the end of the year. A number of arrows have pointed in that direction. Will The Global Warming Bill Cool The Global Economy? Snippet: The bill's passage by the House is historic and will likely increase President Obama's leverage in global climate negotiations as global leaders try to replace the soon-to-expire Kyoto Protocol.