Red Sox Clinch Losing Record – blared the headline on WNST.com after the O’s beat them on Friday. Under two weeks left in the regular season. I forgot how fun it is when your baseball team is in the hunt.
When will these professionals learn. If Vince Young is broke, he has spent $7,000 A DAY (after taxes) from the day he signed with the Titans in 2006 thru today. Young was the 3rd overall pick in the 2006 NFL draft. Stay tuned & stay hedged! {TJM}
The Dow has now gone 61 trading days without a 1%+ decline, the longest streak since the 94-day streak in 2006. ~Bespoke
All of September market gains have come from 2 central bank days. ~Hedgeye
Is housing back? Go ask Trulia, a real estate data app that is now worth half a billion dollars from an IPO last week. ~NYSE
FedEx Corp., an economic bellwether as operator of the world’s largest cargo airline, reduced its profit outlook for the second time this year, citing a slower economy. The shipper said its “2012 U.S. GDP growth forecast is 2.2% and 1.9% for calendar year 2013, which is 0.5 points lower than our fourth-quarter earnings forecast.” “Exports around the world have contracted and the policy choices in Europe, the U.S. and China are having an effect on global trade,” Fred Smith, chief executive officer of the company, said. The company’s ground-delivery business in the U.S., which offers a less expensive alternative to air delivery, posted a sales increase of 7.9% to $2.46 billion. ~Pragmatic Capitalist
The Railroad stocks are another example of how disconnected the market is to the economic reality of global demand. Case in point, Norfolk Southern (NSC) -9% one day last week.
Richmond Federal Reserve President Jeffrey Lacker said the shock from the credit crisis may impede efforts by the central bank to quickly bring down unemployment even with the use of record stimulus. “Monetary policy is simply unable to offset all of the ways in which various frictions impede the economy’s adjustment to various shocks,” Lacker said in a speech yesterday to the Money Marketeers of New York University. ~Bloomberg
Rates on U.S. high-yield corporate bonds fell below 7% for the first time last week, according to Bank of America Merrill Lynch index data.
Financial Terrorism | ZeroHedge
China is actively considering “using its power as Japan’s biggest creditor with $230 billion (£141bn) of bonds to “impose sanctions on Japan in the most effective manner” and bring Tokyo’s festering fiscal crisis to a head.” I.e., dump Japan’s bonds en masse.
Why are we spending so much money on college? And why are we so unhappy about it? We all seem to agree that a college education is wonderful, and yet strangely we worry when we see families investing so much in this supposedly essential good. Maybe it’s time to ask a question that seems almost sacrilegious: is all this investment in college education really worth it?
The answer, I fear, is that it’s not. For an increasing number of kids, the extra time and money spent pursuing a college diploma will leave them worse off than they were before they set foot on campus. ~The Daily Beast
European Debt Situations Is Not Fixed: European banks pledged last year to cut more than $1.2 trillion of assets to help them weather the sovereign-debt crisis. Since then they’ve grown only fatter. Lenders in the euro area increased assets by 7% to 34.4 trillion euros ($45 trillion) in the year ended July 31, according to data compiled by the European Central Bank. BNP Paribas SA, Banco Santander SA, and UniCredit SpA, the biggest banks in France, Spain and Italy, all expanded their balance sheets in the 12 months through the end of June. ~Bloomberg
We decided to take a look at just how far that is – analyzing the S&P 500’s return since March 2009, or 43 months ago, versus all the previous 43 month periods back to the 1950s. You can see in the chart that this rally is quickly becoming one of the most impressive of our time. But, you can also see that the last times we were up in this area were in Aug/Sep of 1987 (yeah, that 1987, the one where stocks lost 21% in a day), and in the summer of 1999, right before the internet bubble burst and the Nasdaq fell over -70%. ~Attain Capital
Chart Work: Your Taxes At Work
Since 2002, health insurance premiums have increased 97% — nearly 3 times as quickly as wages or inflation. ~Public Integrity
A study conducted by RTI’s Public Health Policy Research Program which
shows that low-income smokers in New York spend 25% of their
income on cigarettes. ~ZeroHedge
By itself, NYPD’s School Safety division would be country’s 5th largest police force with nearly 5,400 officers. ~Public Integrity
Steve Sabol: NFL Films Visionary – Who Knew: Football & Orchestra
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