Market Update: DOW down 243, on EMU concerns, spike in weekly jobless claims…

Someone wake Geithner up and let him know, will ya? Gold down, Oil down, everything is down but Treasury prices…

CNBC:

…Initial claims for state unemployment benefits increased 25,000 to a seasonally adjusted 471,000 in the week ended May 15, the highest level since the week ended April 10, the Labor Department said Thursday.

The surprise jump took a toll on U.S. financial markets, already reeling on concerns Europe’s debt crisis could put a damper on the U.S. economic recovery….

The legislators across the world are scaring the crxp out of the markets:

...“I’m convinced the markets are really out of control. That is why we need really effective regulation, in the sense of creating a properly functioning market mechanism.”

Mr Schaeuble’s sense of urgency is compounded by his own state of health. Just 10 days ago, the 67-year-old survivor of a mentally disturbed would-be assassin was rushed to hospital with an allergic reaction to a new antibiotic as he arrived in Brussels for the emergency meeting of EU finance ministers called to agree on the 750 billion euro rescue package….

May 20, 2010. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Unemployment Statistics, Wall St. Comments off.

Gold: We’re an all time high…

GOLD hit an all time high..again….1237.90 now…let’s switch Bond theme songs…

GOLD traded overnight over 1240! yowsa! probably get a pullback soon but as insurance against devaluing dollars it is still IMO a must for 20% of your holdings, hard gold not ETFs, and a safety deposit box at the bank!

May 12, 2010. Tags: , , , , , , , , . Economy, Finance, Music, Politics, Wall St. Comments off.

CNBC Warren Buffett on cap and trade: “It’s a huge tax and it’s a regressive tax”…

Click button on the right to turn off annotations….Warren knows inflation is coming and cap n trade is a Regressive tax that will hurt GDP….

Go to 4.12 in for the cap and trade discussion:

When the Budget was first released, Warren said then IT IS A REGRESSIVE TAX in a RECESSION= bad for economy…but Team TOTUS is rolling along anyway…

That clip as well as Part 1 of the interview with Becky Quick, including noting there ‘has been NO bump in the economy’ after the break:

(more…)

June 28, 2009. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Taxes, Wall St. Comments off.

Market Mover Wednesday: CPI Rises Less Than Expected, Up 0.1% in May – CNBC.com

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more about “Market Mover Wednesday: CPI Rises Les…“, posted with vodpod

June 17, 2009. Tags: , , , , , , , , , . Economy, Finance, Wall St. Comments off.

Market Mover Monday: GM Bankrupt… CISCO replaces GM in DOW..DOW futures up sharply on Personal Income Up .5% – CNBC.com

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Great discussion here by Rickster on the weak dollar, the upcoming turn in inflation which IMO will be sharp brutish and nasty when it comes…

Personal Spending down 0.1%, but the loons trading this summer have the DOW  futures up over 100 in the face of continued massive government intervention in the markets this time with GM…D-E-N-I-A-L- now a river running down Wall St….consumers are not spending futures should not be rallying….when we break that 200 day moving average tears will flow..and if they believe the construction data coming out of China I have a nice shiny bridge to sell them….

and the very first info out of the new Government Motors, is that they have agreed to build a new small car at a previously closed plant, this as they announce 11 permanent plant closures and 3 others being idled, wow we are gonna get a tiny little car for our 50 billion, great, gee who’d a thunk it? BWAAAHAAAAAA, sigh. sucks dont it?

Hell yeah commodities are rallying, as a safety play not a global recovery play, we are afraid of the dollar now with TOTUS spending, where can we go? Commodities baby…

Cisco replaces GM in the DOW 30

Travelers replaces CITI…

more about “Market Mover Monday: GM Bankrupt CISC…“, posted with vodpod

June 1, 2009. Tags: , , , , , , , , , . Big 3, Economy, Finance, Obama Administration, Politics, Uncategorized, Wall St. Comments off.

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