MarketWatch.com – U.S. GDP on the road to zero growth by 2050 Near zero economic growth by 2050? Yes, America’s economy is collapsing. Fast. Yes, the “most depressing forecast ever,” says InvestmentNews, trusted source for 90,000 professional financial advisers across America. Actually it’s worse than depressing if you read the details in “On Road to… Continue reading Most Depressing Market Forecast Ever
Bloomberg.com – Euro Crisis Feeds Corruption as Greece Slides in Rankings The European debt crisis has given way to a new wave of corruption as some of the most hard-hit countries in the turmoil have tumbled in an annual graft ranking, watchdog group Transparency International said. Greece, in its fifth year of recession and crippled… Continue reading Corruption In Europe
Bloomberg.com – John Paulson Got Crushed By Europe John Paulson — the famous hedge fund manager who made a fortune during the downturn, but who’s been getting crushed in recent years — blamed Europe for his fund’s bad performance in 2012. In the last two years, Paulson has taken big, directional bets that have been… Continue reading John Paulson’s Fund Down 17%
The Financial Times – Fed eyes more long-term debt for banks US bank regulators are examining proposals to force the largest and most complex financial institutions to fund themselves with more long-term debt, joining fellow bank supervisors that hope to make it easier to wind down failing institutions. Increased issuance of long-term debt could gradually… Continue reading More Long-Term Debt For Banks
Comment On Friday, December 7, 2012 at 9 AM CT (10:00 AM ET, 7:00 AM PT, and 15:00 GMT), Bianco Research, in conjunction with Arbor Research & Trading, will be hosting a webcast/teleconference moderated by Jim Bianco. Join us Friday as we discuss the fiscal cliff, the markets, and what to expect going into 2013.… Continue reading The Fiscal Cliff And What To Expect In 2013
MarketBeat (WSJ Blog) – Stocks Can’t Manufacture a Rally Today Santa Claus may be coming to town, but he ain’t coming today. Investors and traders were given a broad look at manufacturing across the globe this morning, and the final tally is, it doesn’t look so hot. This reality hit the market after the ISM… Continue reading ISM Manufacturing Index At Its Lowest Level Since 2009
CNBC – Volcker Says Rule Is Already Changing Wall Street Volcker told “Squawk Box” co-host Andrew Ross Sorkin that the rule has already been effective. “Banks have stopped their straightforward proprietary trading operation, and they’ve largely cut back on their hedge funds and equity funds,” Volcker said in the interview broadcast Thursday. “And as the… Continue reading Dealers Are Not Shorting Treasuries
<Click on chart for larger image> Comment The level of outstanding debt is now just $63 billion from the debt limit. What happens after that? As we detailed last week: [The debt] limit is expected to be reached [next week]. After that the Treasury will run down its cash balances and “borrow” from government trust… Continue reading Debt Limit Update
Pimco – William H. Gross: Strawberry Fields – Forever? I’m fond of reminding PIMCO’s Investment Committee that you can’t buy GDP futures – at least not yet. Hypotheses about real growth rates, no matter how accurate, must be translated into investment decisions in order to justify the discussion. Before doing so, let me acknowledge that… Continue reading Bill Gross Speaks
The Wall Street Journal – Top U.S. Firms Are Cash-Rich Abroad, Cash-Poor at Home At a time when American companies hold near record amounts of cash, many are surprisingly cash poor at home. That doesn’t mean they could suddenly run out of money to pay their bills. But it does mean there could be unseen… Continue reading Corporate Cash
Bloomberg.com – Edward Conrad: Warren Buffett Is Wrong About Taxes The debate over whether to tax, redistribute and consume income that would otherwise be invested is critical to the future of America. The nation can’t afford to base its decision on superficial arguments. The country deserves better from a leader such as Warren Buffett. The… Continue reading Buffett