Spreading the Wealth Around

With elections coming up and differences in economic philosophies being highlighted by recent events, the words "spreading the wealth around" sound like the beginning of a political post.  Except this topic goes well beyond political ideology and into basic core beliefs about human beings. 
So, here are a few excerpts from some recent articles I stumbled across at a website called Philosophy of [...]

Dave’s Daily

MARKET COMMENT
October 30, 2008.  Courtesy of Dave Fry, ETF Digest.

Yep, it was that kind of day. Was there any good news to account for an up day? Absolutely nothing, unless you think the GDP data falling a little less than expected was something to place bets on.
Nope, the market is just oversold and [...]

Behold…The Decabox

This is fun, from Howard Lindzon’s site.
Behold…The Decabox!
Nobody does it better than the people making the Daily Show:

Genius.
 

Ridiculous Numbers

GDP Negative as Consumer Spending Falls 3.1% 
Courtesy of our friend Mish, at Global Economic Trend Analysis
The US economy is sinking fast. We did no need to see the GDP numbers to know that but the figures are out. Here are the Third Quarter 2008 Advance GDP Numbers.

Real gross domestic product — the output of goods [...]

Greasing the Slide

Courtesy of David Gordon, The Deipnosophist
Greasing the Slide 
Regular readers know my regard for James Surowiecki; every now and then, though, he really creases the net. Such as the New Yorker essay below (link embedded); in particular, his penultimate and final paragraphs.
– David M Gordon / The Deipnosophist

NewYorker

The Financial Page
November 3, 2008

Greasing the Slide
by James Surowiecki
“Death [...]

Economy Contracts

Tim Iacono reports on the latest GDP numbers:  
Economy contracts, spending turns negative
Courtesy of Tim Iacono, at The Mess That Greenspan Made
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The Commerce Department reported that real gross domestic product fell at an annualized rate of 0.3 percent in the third quarter, driven by a sharp slowdown in consumer spending.
The broadest measure of economic activity in [...]

S&P 500 Crash Count Update

Here’s Mish’s Elliott Wave analysis, after the rally on Tues, continuing a discussion in which he suggests that we will have a wave 4 up before a larger wave down in the future.
S&P 500 Crash Count – Wave 3 Update 
If you are just tuning in, this post will not make a lot of sense unless you [...]

S&P 500 Crash Count Update

Here’s Mish’s Elliott Wave analysis, after the rally on Tues, continuing a discussion in which he suggests that we will have a wave 4 up before a larger wave down in the future.
S&P 500 Crash Count – Wave 3 Update 
If you are just tuning in, this post will not make a lot of sense unless you [...]

S&P 500 Crash Count Update

Here’s Mish’s Elliott Wave analysis, after the rally on Tues, continuing a discussion in which he suggests that we will have a wave 4 up before a larger wave down in the future.
S&P 500 Crash Count – Wave 3 Update 
If you are just tuning in, this post will not make a lot of sense unless you [...]

S&P 500 Crash Count Update

Here’s Mish’s Elliott Wave analysis, after the rally on Tues, continuing a discussion in which he suggests that we will have a wave 4 up before a larger wave down in the future.
S&P 500 Crash Count – Wave 3 Update 
If you are just tuning in, this post will not make a lot of sense unless you [...]

Apple – Buyback?

Note on the AAPL buyback rumor.  Courtesy of Trader Mark at Fund My Mutual Fund. 
Apple (AAPL) Surging on Talk of Share Buyback
 Some interesting comments on the blog of late debating the merits of buying stocks with dividends versus not. I don’t have a problem buying stocks without dividends since many stocks I focus on are [...]

Fed Cuts 50 Basis Points

Courtesy of Mish
Fed Cuts 50 Basis Points, Another Bernanke Theory Blows Up

 
As expected the Fed cut the Fed Funds Rate 50 basis points to 1.0% Here is the FOMC Press Release.

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1 [...]

Fear Bubble

No reason why fear couldn’t join the other bubbles of recent past,…
Is the Fear Bubble Bursting?
Courtesy of Bill Luby at VIX and More
There have been quite a few bubbles and mini-bubbles that have burst over the past year or so. A short list would probably include China; housing; oil; fertilizer; solar; dry bulk carriers; etc.
What [...]

Not-So-Invisible Hand

THE NOT-SO-INVISIBLE HAND:
HOW THE PLUNGE PROTECTION TEAM
KILLED THE FREE MARKET
Courtesy of Ellen Brown, at Web Of Debt
“We’re now no different from any of those Western European semi-socialist welfare states that we love to deride. Italy? Sure, it’s had four governments since last Thursday, but none of them would have allowed this to go [...]

Trading Losses at Banks

Note on trading losses at banks, courtesy of Mish.  Why are banks involved in trading all sorts of assets on leverage?
Equity trading losses at Deutsche Bank, Citigroup, Credit Suisse 
Bloomberg is reporting Deutsche Bank Derivatives Loss May Top $400 Million.

Deutsche Bank AG, Germany’s biggest bank, lost more than $400 million on equity derivatives trades as stock [...]