Month: December 2009
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12/16/09 Midday Report: Inflation aint what it used to be
The market anxiously awaits Ben Bernanke’s language on interest rates today after the FOMC meeting (and at the meeting, I am told they are serving GDP growth with a side of bank lending, while the kitchen has been told explicitly to hold the Rates, make sure there is absolutely no inflation, and to not put…
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12/15/09 Midday Report: Porter trims forces to 4 as commodities laugh at competitive advantages
The big news today is that wholesale inflation is up 1.8% and manufacturing in the US is churning out more goods people can’t afford to buy, especially if prices have to be raised now that input costs/commodities are moving up faster than expectations (weird that expectations were wrong, though much less weird than the new…
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12/14/09 Midday Report: Abu Dhabi on a Dubai-ing spree for Christmas (or whatever the fuck they celebrate)
Before we get to the midday report, we all need to pour out a little Courvoisier (or whatever your revealed preference for drinks may be) for noted Economist Paul Samuelson who passed away at age 94 Samuelson did his best to try to bring legitimacy to the completely made up and theoretical field of study…
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12/11/09 Mid-Morning Report: In the year of the ox, China is showing it’s hung like one too
There are three big pieces of news out this morning: US retail sales beat expectations, China is producing the fuck out of some shit, and Nell McAndrew is hot (this may not be news to some, but Money McBags is just brushing up on his British history and he would have fought the fuck out…
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12/10/09 Midday Report: Take our cheap shit, please
The market is off to the races again as a rise in US exports turned on the cold water and created some shrinkage to the US trade deficit. The trade deficit dropped by 7% which was better than expectations of a rising deficit (and I know, it is hard to believe expectations were wrong much…
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12/9/09 Midday Report: Nothing to see here
No really, there’s not much to see today except for this and maybe this. The dollar started to decline again thus boosting commodities and reversing some of the downturn the stock market has taken over the last week. No new data, but traders have to make money somehow so banging the soft dollar is a…
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12/08/09 Midday Report: Formidable headwinds, not as good as formidable head
The news driving the market down today comes from Ben Bernanke’s speech yesterday (apparently the joke about the rabbi, the priest, and the horse did not go over well) where he warned that there are still “formidable headwinds” to an economic recovery. And in an additional exercise of overstating the obvious, he also concluded that…
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Short Idea: Winnebago (Ticker: WGO), That’s not a Winnebago in my pants, but I am happy to see you
What they do: They sell really expensive unneeded RVs. Apparently people use them to go camping and drive cross country and shit. Money McBags is not sure why people do either of those things since we have hotels and planes and thus camping and driving are so 1920s, but Money McBags also does not understand …
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12/07/09 Midday Report:: Follow the yellow brick road, until it leads into a deflationary spiral and you wind up homeless
The big news in the market today is that gold is starting to fall as investors anticipate an increase in rates due to a faster than expected economic recovery (All 15MM+ unemployed people just groaned a sigh of relief, because sighing is still free, I think). So the dollar is up on this new sentiment…
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12/04/09 Midday Report: Brother can I get a job? Well actually, maybe.
The market is soaring today as the payroll report was better than expected, unemployment actually dropped from 10.2% to 10% (depending on which numerator and denominator you choose to use, but those are just details), and the government significantly revised previous job loss declines. In other news, the government also significantly revised the ending to…