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Another Day, Another Green Shoot


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Mr. Widget seems to be suggesting that this is an important inflection point. 5 hr cycle indicator needs to roll over in the AM or the longer oscillators could turn back up. Weakness in the early going, on the other hand, could get things in gear to the downside.

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retail sales, not much improvement...

 

stores' figures are looking better as they are compared last September when spending plummeted amid the ballooning financial meltdown

 

Target said sales at stores open at least a year fell 1.7 percent

 

Macy's had a 2.3 percent decline

 

J.C. Penney had a 1.4 percent decline for September

 

Gap Inc., dragged down by sluggish sales at its namesake stores and Banana Republic, posted a 1 percent sales decline

 

Limited Brands reported that sales in stores open at least a year rose 1 percent in September

 

http://finance.yahoo.com/news/Retailers-se...489858.html?x=0

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retail sales, not much improvement...

It is completely insane.

 

I remember some analcyst saying several months ago that we were coming into the easy-comparisons period this fall. Fercrissakes, if September y-o-y retail figures aren't positive, and the freaking debt-saddled brain-dead moranic U.S consumer constitutes 2/3rds of spending, then how can the recession be universally declared "over"?

 

:huh: :huh: :huh:

 

And if recovery is in swing, then why is international trade still sporting a toetag in the hospital basement?

 

I'm too stupid to understand this sort of thing.

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Ben Banky's best statements, I've added another one...

 

20 October 2005

Ben Bernanke told Congress, "(house) price increases largely reflect strong economic fundamentals"

http://www.house.gov/jec/hearings/testimon...-05bernanke.pdf

 

March 28, 2007

Ben Bernanke told Congress, "At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained".

http://www.federalreserve.gov/newsevents/t...ke20070328a.htm

 

19 July 2007

Ben S. Bernanke told Congress that he only expected subprime losses in the $50 to 100 billion range.

http://money.cnn.com/2007/07/19/news/econo...nanke/index.htm

 

15 Sep 2009

Federal Reserve Chairman Ben Bernanke said that the recession was "very likely over".

http://www.bloomberg.com/apps/news?pid=206...id=aflWYD0hCPqA

 

benbankyfairytale.jpg

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US$ - shouldn't a lower US$ eventually bring higher inflation, from imported higher prices ???

 

Brazil, Consumer Price Index, September: 4.3%

Mexico, Consumer Price Index, September: 4.9%

 

If that's the case then rates are too low ?

 

SAN FRANCISCO (MarketWatch) -- Freddie Mac said Thursday that the 30-year fixed-rate mortgage average declined further to 4.87%

 

although in Asia CPI is still low...

 

CPI inflation has dropped to -2.2pc in Japan (a modern record), -1.8pc in China

 

Just wondered ?

 

yeah I listened to the inflation/deflation debate on FSN, probably worth it if you have the time

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TOKYO, Oct 8 (Reuters) - Japan's government plans to push banks to prop up struggling small firms by allowing them to forgo the repayment of loans for up to 3 years, three sources familiar with the latest draft of the plan said.

 

Opinion in the group was previously split over the length of the moratorium.

 

The scheme, which was first floated by the controversial new banking minister Shizuka Kamei last month, has helped trigger selling of bank shares on concerns it would lead to an increase in the sector's bad loans.

 

The plan will aim to limit damage to banks' balance sheets by allowing them not to classify loans to borrowers using the scheme as non-performing, said the sources, who spoke on condition of anonymity because the plan has not been finalised.

 

three more years in Zombieland

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When we get down to one page on this thread --Major sell signal.

 

Short now or forever hold your piece. Short term bears are in control until the last high is closed over and that would be daily 1069.62 Sept. 29 on the spx.

 

I don't believe I actually said "bear." Do those exist? Please don't confirm another accumulation high until I get my "piece" ready.

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Radio Free Wall Street 10/8/09

Lee Adler and Russ Winter discuss the misleading economic data, the reasons why the market is so hard for bears right now, and the outlook for when that might change.

 

Not a subscriber? Click here to hear a free excerpt.

 

To subscribe and hear this podcast right now, click here!

 

audio_mp3_button.png Radio Free Wall Street Podcast 10/8/09 [39:29m]: Play Now | Play in Popup | Download (7)

Subscribers, click player to start.

 

Listen to any podcast prior to April 22, 2009. Click here for archive. Be surprised!

 

These charts are discussed in today’s podcast.

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