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Hee hee hee.

 

globex.png

That's an evil little snicker you're making Sphinxter... have to admit I'm making similar noises...

 

The only European index I can find that's NOT red is Austria and that's only up 0.1% :D

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your tax dollars at work, buying new hummers for doctors and others - and those of you who thought the tax cuts weren't helping the economy sure have some egg on their face: :rolleyes: :blink:

A Hummerdinger of a Tax Loophole?

Since the letter went out in August, Thorpe estimated his Anchorage dealership, the only one in the state, has sold an additional 35 Hummers at $62,000 each. That's pumping serious money into the local economy, a most substantial stimulus indeed.

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Guest yobob1

Not only is this aless jobs recovery, it also is a less profits recovery.

 

Reuters

US Q2 final after tax profits fell 5.0 pct

Friday September 26, 8:29 am ET

 

 

WASHINGTON, Sept. 26 (Reuters) - Commerce Department

estimates of profits by U.S. corporations, with comparisons.

Profits from current production include adjustments for

inventory valuation and capital consumption. They do not reflect

tax law changes that would affect profits as reported to tax

authorities. Data are seasonally adjusted.

Percent changes from preceding period:

                       Q2'03    Prev  Q1'03    2002

From current production     9.9    10.8    2.6     7.6

After Tax                  -5.0    -3.4    3.8    -4.0

Before Tax                 -3.8    -2.8    4.8    -0.7

Tax Liability              -1.5    -1.6    6.9     7.0

 

US Q2 final after tax profits fell 5.0 pct

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Nobel-winning economist Franco Modigliani died.

 

Franco Modigliani, 85

 

The Nobel he received in 1985 also honored him for his insights into corporate financing. Working with Merton H. Miller, who won a Nobel in 1990 for his contribution, Mr. Modigliani demonstrated that leveraging a company through a lot of debt did not in itself affect a corporation's value.

 

The Modigliani-Miller theorem, taught to all finance students and universally accepted, is one of the engines of the debt expansion.

 

Machinehead's corollary: the Modigliani-Miller theorem is correct for one company in isolation. But in aggregate for the economy as a whole, it leads to a debt-financed boom, followed by the Hypertiger scenario.

I studied the M&M theory diligently in my graduate days. It always appeared too abstruse to be taken literally. Now that an entire generation of B schoolers has embraced the leveraged concept, we are left with an economy encumbered by growing interest obligations. I cannot believe that was the intent of the research, but Long Term Capital proved that theories of Nobel Prize winners can take us to the brink of financial apocalypse.

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Good morning all!

 

I don't expect SPX 1000 to fall easily. But we shall see.

 

Good trading! B)

BAsed on the old tried and rtue metal slam coupled with a dollar prop, I suspect that there's some real fear behind the scenes.

 

Oddly, there's none apparent in the bond market which should be smarter about the true rise in inflation that we are experiencing.

 

Without the use of geometric weighting - i.e., the theory that consumers will switch to burgers when steak gets too expensive - the annual inflation rate during August probably would have been 4.7 percent, more than twice the reported number. "

 

Crudele Does It Again.

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I've said this in the Feed page of the Anals, and will say it here. In the unfolding liquidity crisis I've been screaming about since the MoGauge collapse began in June, the necessity to liquidate will affect EVERYTHING!

 

Subscribe NOW!

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Not only is this aless jobs recovery, it also is a less profits recovery.

 

Reuters

US Q2 final after tax profits fell 5.0 pct

Friday September 26, 8:29 am ET

 

 

WASHINGTON, Sept. 26 (Reuters) - Commerce Department

estimates of profits by U.S. corporations, with comparisons.

Profits from current production include adjustments for

inventory valuation and capital consumption. They do not reflect

tax law changes that would affect profits as reported to tax

authorities. Data are seasonally adjusted.

Percent changes from preceding period:

? ? ? ? ? ? ? ? ? ? ? ?Q2'03 ? ?Prev ?Q1'03 ? ?2002

From current production ? ? 9.9 ? ?10.8 ? ?2.6 ? ? 7.6

After Tax ? ? ? ? ? ? ? ? ?-5.0 ? ?-3.4 ? ?3.8 ? ?-4.0

Before Tax ? ? ? ? ? ? ? ? -3.8 ? ?-2.8 ? ?4.8 ? ?-0.7

Tax Liability ? ? ? ? ? ? ?-1.5 ? ?-1.6 ? ?6.9 ? ? 7.0

 

US Q2 final after tax profits fell 5.0 pct

A few more stats- I wonder what the GDP would have been if you take out gubmint spending? :rolleyes:

 

"Real federal government consumption expenditures and gross investment increased 25.5 percent in the second quarter, compared with an increase of 0.7 percent in the first. National defense increased 45.8 percent, in contrast to a decrease of 3.3 percent. Nondefense decreased 5.4 percent, in contrast to an increase of 8.4 percent. Real state and local government consumption expenditures and gross investment decreased 0.2 percent, in contrast to an increase of 0.2 percent"

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Bloomberg said Kodak's dividend cut may threaten its place in the DJIA.

 

Huh. You just know Dow-Jones has been waiting for an excuse to slot CSCO and AMAT into the DJIA.

 

The PR tagline: "not your father's Dow average" :lol:

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Bloomberg said Kodak's dividend cut may threaten its place in the DJIA.

 

Huh. You just know Dow-Jones has been waiting for an excuse to slot CSCO and AMAT into the DJIA.

 

The PR tagline: "not your father's Dow average" :lol:

Did you catch all those downgrades of Kodak by the brokers yesterday?

Every research report should come with a clothespin - for your nose.

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Bloomberg said Kodak's dividend cut may threaten its place in the DJIA.

 

Huh. You just know Dow-Jones has been waiting for an excuse to slot CSCO and AMAT into the DJIA.

 

The PR tagline: "not your father's Dow average" :lol:

Dow represents The Economy.

 

AMAT is the economy.

 

Nobody takes photographs anymore.

 

The Sheeples want routers.

 

AMAT + CSCO - EK = Dow 36,000

 

Price weighting rules.

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