aussiebear Posted September 4, 2012 Report Share Posted September 4, 2012 Early openers at sixes and sevens: Kiwis +0.3%, Aussies flat, Nikkers -0.3% and Sth Korea -0.1%. In Aussie sectors, resources doing a blip with Miners +1.2%, Gold +1.1% and Materials +1%. Link to comment Share on other sites More sharing options...
aussiebear Posted September 4, 2012 Author Report Share Posted September 4, 2012 http://finance.yahoo...lindices?e=asia Link to comment Share on other sites More sharing options...
aussiebear Posted September 4, 2012 Author Report Share Posted September 4, 2012 http://money.cnn.com...s/morning_call/ http://www.kitco.com http://www.kitconet....ase_metals.html http://finance.yahoo.com/ Link to comment Share on other sites More sharing options...
aussiebear Posted September 4, 2012 Author Report Share Posted September 4, 2012 Oops, almost forgot the daily Engrish.. http://www.engrish.com/2010/01/yan-yan-cookie-snacks/ Yan Yan snacks imported from Japan. Link to comment Share on other sites More sharing options...
aussiebear Posted September 4, 2012 Author Report Share Posted September 4, 2012 Rot setting in... FORTESCUE is the latest miner to revise its expansion plans in line with falling commodity prices, announcing it will cut staff and defer development work at a number of sites. The iron ore miner, owned by billionaire Andrew Forrest, expects to save $300 million by postponing the development of the Kings deposit within its Solomon mining hub in Western Australia's Pilbara region along with the full completion of a fourth berth at Herb Elliott Port until iron ore prices recover. The company has revised its production targets for the financial year to 82-84 million tonnes, down from 86.6 million tonnes. Capital expenditure this financial year will fall to $4.5 billion from $6.1 billion. http://www.heraldsun.com.au/business/companies/fortescue-metals-cuts-costs/story-fndgp8b1-1226464533708 Link to comment Share on other sites More sharing options...
aussiebear Posted September 4, 2012 Author Report Share Posted September 4, 2012 Things went from bad to worse in the arvo: All Ords closed -0.6% with Financials -1.3% taking the downside lead followed by Utilities, -0.9%. Asia not happy either: China -0.8%, Honkers -0.7%, India flat and Nikkers -0.1%. On to UK/Europe: Link to comment Share on other sites More sharing options...
Jimbo Posted September 4, 2012 Report Share Posted September 4, 2012 DEBT IS THE TOXIC WASTE OF EXCESSIVE CONSUMPTIONISM When we run QE thru the consumption/production dynamic we see that it is a tool for consumptionism as it transfers wealth from productionsists (also called savers in the old economic terminology) to consumptionists. It even turns productionists into consumptionsists if persued strongly enough, as savers will eventaully stop saving or save less and use the savings for consumption! It also advantages non monetary savings stocks (like gold ,....any hard commodity or asset, real estate etc) versus monetary savings stocks i.e savings denominated in terms of fixed monetary units (cash and bonds). Actually the whole "non monetary savings" versus "monetary savings" dynamic is a very underexplored area in economics and is pretty facinating area to explore. Link to comment Share on other sites More sharing options...
DrStool Posted September 4, 2012 Report Share Posted September 4, 2012 Precious Metals Update 9/4/12 – Professional Edition http://wp.me/p2r1d8-u2E Read risk free for 30 days. Link to comment Share on other sites More sharing options...
aussiebear Posted September 4, 2012 Author Report Share Posted September 4, 2012 After working six years as a senior executive for a multinational payroll-processing company in Barcelona, Spain, Mr. Vildosola is cutting his professional and financial ties with his troubled homeland. “The macro situation in Spain is getting worse and worse,” Mr. Vildosola, 38, said last week just hours before boarding a plane to London with his wife and two small children. “There is just too much risk. Spain is going to be next after Greece, and I just don’t want to end up holding devalued pesetas.” In July, Spaniards withdrew a record 75 billion euros, or $94 billion, from their banks — an amount equal to 7 percent of the country’s overall economic output — as doubts grew about the durability of Spain’s financial system. More disturbing for Spain is that the flight is starting to include members of its educated and entrepreneurial elite who are fed up with the lack of job opportunities in a country where the unemployment rate touches 25 percent. http://finance.yahoo.com/news/fears-rising-spaniards-pull-cash-111603851.html Link to comment Share on other sites More sharing options...
DrStool Posted September 4, 2012 Report Share Posted September 4, 2012 What you may have missed over the holiday weekend. Must Reads- Ours and Others Economic and and financial news and analysis "Moral hazard 101" with professor Draghi By Walter Kurtz September 4, 2012 The ECB has been quite clear about focusing their bond buying on the short end of the curve (see this discussion). There has been some speculation that Draghi will only buy short-term bills, but we got some clarification today. The ECB will target the ... Read More » Q&A With Keith Fits-Gerald: The Real Answers in China Are Never That Simple By Keith Fitz-Gerald September 4, 2012 Q – The Chinese copy everything. Companies can’t make money there, especially lately. A – That’s simply not true. Domestic Chinese companies have made plenty of money. So have foreign companies like McDonalds, ABB, Coke, and even GM, which have been fabulously successful there because they’ve taken the time to localize their products. Not... Read More » Thieving Thieves – Bruce Krasting By Bruce Krasting September 4, 2012 There was another chapter in the China Kleotocracy story the past week. Western press reported on a fellow by the name of Wang Guoqiang. Wang fled China with $30Mn in his pocket back in April. The problem is that the loot was stolen from the treasury of the city of Fencheng (Pop. 580,000). The... Read More » The Resilience and Fragility of the Status Quo – Charles Hugh Smith By Charles Hugh Smith September 3, 2012 The apparent resilience of the Status Quo masks its fundamental fragility. Longtime correspondent K.B. recently posed a question that is on many minds, including mine. For the last 5 years, I have been watching the slow train wreck that is our e... Read More » The Australian dollar is still vulnerable to the downside By Walter Kurtz September 3, 2012 The Australian dollar has declined considerably from the recent highs (touching a 6-week low). But given the China slowdown and weakening domestic fundamentals in Australia, it may have room to fall further. Clearly relative to the rest of the develope... Read More » World Stock Markets Trading Discussion – Yo-yo yammering By The Daily Stool September 3, 2012 Early openers at sixes and sevens: Kiwis +0.3%, Aussies flat, Nikkers -0.3% and Sth Korea -0.1%. In Aussie sectors, resources doing a blip with Miners +1.2%, Gold +1.1% and Materials +1%. Read More » Long term real rates in the US hit record lows By Walter Kurtz September 3, 2012 The long term US real rates have touched a new low. The difference between the 10y zero coupon treasury yield and the 10y zero coupon inflation swap rate is now around -88bp. That's roughly how much you'd lose in real terms per year holding long term t... Read More » The crowded long dollar trade is no longer crowded By Walter Kurtz September 3, 2012 Remember the crowded trade in long USD positions (discussed here)? Well, it's not crowded any more as many of the longs have been blown out. The sentiment has quickly shifted (of you wonder why, just read this) and the short dollar bias is currently in... Read More » The hurricane is gone, why aren’t gasoline prices going lower? By Walter Kurtz September 3, 2012 It's amazing how some highly educated people refuse to see the facts in front of them. We continue to get comments that the reason for the recent rise in gasoline prices had to do with the hurricane Isaac threatening US refining facilities in Louisiana... Read More » The race to the bottom produces regulators who are invertebrates and fraud epidemics – William K. Black By Devin Smith September 3, 2012 By William K. Black (Cross posted at Benzinga.com) I examine how highly conservative newspapers are covering the interplay of widespread “control frauds” by the world’s most elite banks, the carefully structured de-evolution of financialregulators through descent from the subphylum Vertebrata into the phyla of the invertebrates, and the global failure to prosecute the... Read More » America’s Descent Into Poverty By Bears Chat at The Wall Street Examiner September 3, 2012 The United States has collapsed economically, socially, politically, legally, constitutionally, and environmentally. The country that exists today is not even a shell of the country into which I was born. In this article I will deal with America’s ec... Read More » Join Up! – James Howard Kunstler By James Howard Kunstler September 3, 2012 Meet the new third party in national politics: Reality. Reality is the only party with an agenda consistent with what is actually happening in the world. Reality doesn’t need to drum up dollar donations from anyone. Reality doesn’t have to pander to any interest group or subscribe to any inane... Read More » Labor Day 2012: The Future of Work – Charles Hugh Smith By Charles Hugh Smith September 3, 2012 Technology and the Web are destroying far more jobs than they create. We will need to develop a "Third Way" based on community rather than the Market or the State to adapt to this reality. What better day to ponder the future of work than Labor Da... Read More » Student loan delinquencies soar (right after OWS protests end) leaving the taxpayer on the hook By Walter Kurtz September 3, 2012 Take a look at the chart below. It represents the total consumer debt outstanding in the US. What stands out?Source: NY Fed (click to enlarge)That's right, student loans. Mortgage balances are moving lower, home equity and creditcards look stable or d... Read More » Link to comment Share on other sites More sharing options...
DrStool Posted September 4, 2012 Report Share Posted September 4, 2012 NYT Boy Wonder ARS Blames FB CFO for debacle but maybe it’s just a POS Link to comment Share on other sites More sharing options...
bundys_dodge Posted September 4, 2012 Report Share Posted September 4, 2012 Trader Joe, on 03 September 2012 - 11:07 AM, said: Look at it a little differently Y2K did happen...although it was pretty much a non-event But companies spent hundreds of millions if not billions in the aggregate preparing contingency plans _________________ So Grexit....companies put various plans in place...Greece folds....and like Y2K....non-event Other than maybe a 1 minute 300 point drop in the "People's Index" before the NY Fed steps in and rallies it for a 500 point gain on the day Headlines read: Greece Exit Not as Bad As Originally Thought Greece Exit Turn Out To Be Non-Event Greece Exit -- Now the Bad News Out of The Way, Markets Can Move Forward Very valid counterpoints, thank you. I am getting the feeling that even Merkel has come around to the idea of ECB sovereign bond buying, and it may just be the Bundesbank fighting a lonely (likely a losing) battle against it. Link to comment Share on other sites More sharing options...
Dopamine Posted September 4, 2012 Report Share Posted September 4, 2012 Vix jumping, price not budging one bit. Link to comment Share on other sites More sharing options...
specie Posted September 4, 2012 Report Share Posted September 4, 2012 depending on your chart/pointofview/thicknessoftheline GOLD broke out of its triangle or made one helluva try i'm thinking the ladder Link to comment Share on other sites More sharing options...
bundys_dodge Posted September 4, 2012 Report Share Posted September 4, 2012 AutoZone downgraded to Buy from Conviction Buy at Goldman http://finance.yahoo.com/news/autozone-downgraded-buy-conviction-buy-113156671.html Link to comment Share on other sites More sharing options...
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