Money McBags
-
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…
-
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…
-
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…
-
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…
-
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 …
-
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…
-
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…
-
12/03/09 Midday Report: BAC does not need your stinking funds (well at least not until next time)
The market is abuzz today with BAC’s repayment of $45B to Uncle Sam who apparently got drunk and touched BAC in their loan loss reserves just one too many times. So to break the cycle, BAC is going to pay back their bail out funds through the profits they made by being able to borrow…
-
12/2/09 Midday Report: What goes up, Must go up
The market keeps rallying as it seeks to prove the little known old adage that what goes up, must go up (if it is inflated with sealed in non-decaying helium). Spurring the rally is the dollar’s continued demise. It has now not just fallen lower than Eliot Spitzer’s dignity, but is rapidly approaching Tiger Woods’…
-
12/1/09 Midday Report: Dubai? Do fucking buy.
Oh no, the ground is rising (or whatever the fuck the opposite of the sky is falling is). To no one’s surprise, Dubai’s finance arm related to real estate is going to renegotiate their debt and according to Dubai’s ruler, Sheik Mohammed bin Rashid al-Maktoum, there is nothing to fucking see here (except for a…