World of Warcraft: Mr. T commercial – Mohawk Grenade

Courtesy of  koblec

November 16, 2009. Tags: , , . Celebrities, Entertainment, Fantasy, gaming, graphic art. 2 comments.

Meredith Whitney: “I am the most bearish I have been in a year”

Meredith Whitney agrees with MiM and thinks we will have a double dip. She echoed the sentiments of this morning’s post. “I don’t know what’s going on in the market right now because it makes no sense to me,” she said.

Vodpod videos no longer available.

Airtime  Mon. Nov. 16 2009   1:11 PM ET

CNBC: Stocks are overvalued and the US economy is likely to fall back into a recession next year, well-known analyst Meredith Whitney told CNBC…The banking index has advanced some 136 percent but the sector may have been at least fairly valued, says Meredith Whitney, Meredith Whitney Advisory Group CEO. In a wide-ranging interview, Whitney, CEO of the Meredith Whitney Advisory Group, also said:

“I haven’t been this bearish in a year,” she said in a live interview. “I look at the board and every single stock from Tiffany to Bank of America to Caterpillar is up. But there is no fundamental rooting as to why these names are up—particularly in the consumer space.”

  • She was disappointed that Fed Chairman Ben Bernanke didn’t spell out how the Federal Reserve planned to exit “the biggest Fed program to date, which is the mortgage-backed purchase program.” In a speech earlier Thursday, Bernanke said the central bank was watching the dollar’s decline but is likely to keep interest rates low.
  • The US consumer was going through the biggest credit contraction ever—even bigger than that during the Great Depression. “That credit contraction is accelerating,” she said. “There’s nowhere to hide at this point.”
  • The banking sector is not adequately capitalized and will need to raise more capital in the coming year.
  • The residential real estate market is likely to worsen and remains a much bigger threat than the commercial property market. The government’s mortgage modification program won’t result in any major improvement in homeowners’ ability to stay above water, she added.

“I don’t know what’s going on in the market right now because it makes no sense to me,” she said.

“The scariest thing about the Fed’s program is that the money on the sidelines isn’t going to support that asset class,” she added. “So the trillion dollars of Fannie (Mae), Freddie (Mac) and mortgage-backed securities that the Fed is holding—there’s no substitute buyer there.”

more about “Meredith Whitney: “I am the most bear…“, posted with vodpod

November 16, 2009. Tags: , , , , , , . Economy, Finance, Foreclosures, Housing, Unemployment Statistics, Wall St. Comments off.

The Vampire Diaries 1.9 The Turning Point & Smallville Pandora Sneak Peeks

Smallville ‘Pandora’ webclip after the break:


November 16, 2009. Tags: , , , , , . Entertainment, Fantasy, Fiction, Horror, Mystery, Popular Culture, Supernatural, Suspense, Urban Fantasy, Warner Bros.. 1 comment.

Ben Bernanke addresses Economic Club of NY – Live Feed


November 16, 2009. Tags: , , , , , , , . Economy, Finance, Politics, Unemployment Statistics, Wall St. Comments off.

Market Mover Monday: October Retail Sales – ex-autos up 0.2% (forecast was up 0.4%)

wall_st_bear_smallOctober retail sales up 1.4% , ex-autos up 0.2% (Steve Liesman noting worst consumer recession since 1970 welcome to reality there Steve!)

Also September revised DOWN to Down 2.3% vs original report of down 1.5%

Empire State Manufacturing Index also collapsing so anyone who looked at October’s 34.57 needs to rethink, November comes in at 23.51.

Dollar dropping, now tell me how the averages can continue to rise off the weak dollar when it is CLEAR the US consumer is still flat on their back and that is BEFORE the inevitable tax increases….the only decoupled thing here is the markets decoupled from reality…

November 16, 2009. Tags: , , , , , , , , . Economy, Finance, Wall St. Comments off.

Light Holiday Blogging Schedule


Happy to report P/T work for MiM  starting Monday the 16th 🙂 (finally!)

MiM will have a light blogging schedule through the Holidays

November 16, 2009. Tags: , . Entertainment. Comments off.

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