The Ruse of the BIS
What Is the Most Dangerous Global Institution? And Banks to Avoid (Revisited)
Written by Elliott Morss, Morss Global Finance
Introduction
In my
last article, I argued that the Middle East, India, and
the Eurozone were the most dangerous regions in the world. In this
piece, I argue that the Bank for International Settlements is the most
dangerous institution in the world. I also provide a listing of US banks
that gambled with depositors' money before the banking collapse that
are still not '
out of the woods'.
Is Fiscal Austerity Good for the Economy?
by Renee Haltom and Thomas A. Lubik - Economic Brief, Federal Reserve Bank of Richmond
Concerns about fiscal imbalances in
Europe and the United States have led to intense debates about whether
governments should dramatically cut spending or increase taxes to reduce
government debt - a course of action often called fiscal 'austerity.'
But is austerity likely to hurt economic growth? That question has not
been definitively answered - but even if austerity is costly in the
short run, it can provide long-run benefits.
Markets Close Higher But Slide Sideways Under Resistance
Closing Market Commentary For 09-04-2013
Markets slide sideways for most of the
late session on lower than normal volume. Although the markets closed up
in a respectable manner, the averages look weak, unattractive and could
very well collapse under their own weight.
By 4 pm we saw trading confined in a
narrow range bound zone where the highs of the day filled several
significant gaps. It appears the averages have reached a resistance, but
low volume will not be enough to push the numbers through and above.
What We Read Today 04 September 2013
Econintersect: Click Read more >> below graphic to see today's list.
The top of today's reading list
reports on Larry Summer's a prospective Fed chairman nominee and the
political factors involved........ and the last article says that
actions by investment giant PIMCO prove the bond bull market is over.
We have a bonus today with an article from c/net discussing new Samsung products, including the new Galaxy Gear Smartwatch.
August 2013 Beige Book: Rate of Economic Expansion Continues Unchanged
Econintersect: The consolidated economic report from the 12 Federal Reserve Districts (Beige Book) characterizes economic activity that
"continued to expand at a modest to moderate pace during the reporting period of early July through late August". The previous report said "
economic activity continued to increase at a modest to moderate pace since the previous survey".
Please see the end of this post for words the Federal Reserve uses when the economy is entering a recession.
Averages Slide Sideways Having Reached Highs
Midday Market Commentary For 09-04-2013
By noon the averages has leveled off with
several indices filling gaps left behind in downward openings on
8-26-2013. There is one more gap above made on 8-14-2013 that may be
filled before Mr. Market moves on.
For today it appears we are at a
resistance that may be penetrated today or tomorrow. Volume is low to
moderate; this is a wait and see game, er, stock market.
Chemical Clues: German Intel Has 'Evidence' To Back US War Push In Syria
Berlin
is convinced that it was Syria's President who ordered a chemical
weapons attack outside Damascus last month. German media suggest its
spies have intercepted calls and communications which point directly at
the Syrian leadership.
Investing.com: Technical Analysis 03 September 2013
Investing.com Technical Analysis (as of Tue, 03 September 2013 05:00pm EDT)
by Investing.com Staff, Investing.com
Below, technical overviews and analysis for key stock indices, commodities and
currency
pairs, based on market activity at the end of the 03 September 2013
U.S. session. This information is a comprehensive summary derived from
simple and exponential moving averages along with key technical
indicators shown for specific time intervals.
Markets Open Down Then Melt Up On bad News
Opening Market Commentary For 09-04-2013
Premarket was light and directionless
indicating a down opening for the cash crowd. Oil and copper are down as
is gold. The dollar is also down but rising off its lows.
Markets opened down as expected, but
almost immediately started to rise on 'moderate' volume. US Trade
Balance reported in down and the markets evidently thought that was O.K.
By 10 am the bulls were in charge as the averages were melting upwards, but had not reached yesterday's sessions highs.
Consumer Confidence Is Window Into Employment
by Jason Bram, Robert Rich, and Joshua Abel - Liberty Street Economics, Federal Reserve Bank of New York
Consumer confidence is closely monitored
by policymakers and commentators because of the presumed insight it can
offer into the outlook for consumer spending and thus the economy in
general. Yet there's another useful dimension to consumer confidence
that's often overlooked: its ability to signal incipient developments in
the job market.
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July 2013 Trade Data Again Is Mixed
Written by Steven Hansen
A quick recap to the July 2013 trade data released today shows a mixed
picture of USA and global economy. Overall, nothing in this data is
recessionary.
Read more >>
Europe Manufacturing Gathers Steam
Econintersect:
The Purchasing Managers' Index (PMI) continued improvement across the
Eurozone in August 2013 except for France. The average across all 17
euro countries was up to 51.4 from 50.3 in July. This was the fourth
consecutive month of increases and the second after two years below the
50 level which is the demarcation between expansion and contraction.
Click on graph to view interactive version at Bloomberg.
Rebalancing and Long Term Growth
by Michael Pettis, China Financial Markets
As analysts and official entities like the World Bank continue to
downgrade their forecasts for medium-term growth in China, I have been
asked increasingly often for the reasons I believe that 3-4% average
annual growth rates is likely to be the upper limit for China during the
adjustment period. In this article I want to explain how I arrived at
my numbers.
Read more >>
First Finance, Then Debt - What Crisis Next?
Special Article from The BullionVault
Written by Adrian Ash, Bullion Vault
If Syria is to blame for this run, then the world's in very big trouble...
So just like that, there were no sellers
in the gold or silver markets. It's been buyers only amongst
BullionVault users this week.
New account openings were strong this
week too, the greatest number since the April price crash in fact. Cash
deposits were also sharply higher, the heaviest since end-June - the
week gold and silver hit their second big slump, and bargain hunters on
BullionVault got just the crash they wanted.
Gareth Bale Becomes World's Most Expensive Footballer
by Felix Richter, Statista.com
Gareth Bale has finally completed his
euro 100 million transfer from Tottenham Hotspur to Real Madrid. The
Welshman has signed a six year contract worth Pound Sterling170,000 per
week after tax. Bale's move has made him the most expensive player in
football history, ahead of Cristiano Ronaldo who cost euro 94 million in
2009.
Charts of Interest Following Tuesday Move
by Jeff Pierce, Zentrader
I think how the markets respond tomorrow
is important. After a low volume decline over the last few weeks of
August a majority of traders and fund managers come back to work this
week. If we can get over what I deemed as key resistance (see below) and
stay over it, then the markets have a good footing to build on. We're
just a stone's throw from 2013 highs on the Nasdaq.
A Forgotten Farewell to Arms
Defiling the Memory of President Eisehower
by Peter Coyne, Daily Reckoning
On a Tuesday night, 52 years ago.
President Dwight D. Eisenhower appeared on TV sets across America. Three
days later, he would leave the Oval Office to John F. Kennedy.
It all happened very fast. No one was prepared for the grim prophecy Eisenhower would tell that night in his farewell address.
Evolving Role of Disabled Children Benefits
by Richard V. Burkhauser and Mary C. Daly - FRBSF Economic Letter, Federal Reserve Bank of San Francisco
The U.S. federal government's program
that provides cash benefits to low-income families with a disabled child
has grown rapidly over the past 25 years. This growth reflects changes
in the implementation of the program rather than declines in children's
health or family income. Unfortunately, most disabled children from
families that receive such benefits do not become employed when they
grow up, so these policy changes may relegate these children to lifetime
government support-probably near the poverty threshold-at the expense
of taxpayers.
Crash Insurance
Worried the Market Will Crash, but Don't Want to Sell Your Stocks? Buy This Insurance Policy
Written by George Leong, Profit Confidential
I
recently had dinner with a friend who has a small business. This person
is also an investor and has made some very good profits in the
Fed-inducedstock market. He is also aware that stocks have reached
record heights due to the injection of easy money into the system.
The money made over the past four years
in the stock market has not been that difficult, and therein lies the
problem I continue to see every day: it has been a free ride in the
stock market.
Week Ending 03 September 2013: 5.5 Cent Gasoline Price Rise
Econintersect:
Gasoline prices rose an average of 5.5 cent nationwide this past week
from last weeks fall of 0.01 cent from the week before. Since August
5th, gas prices have declined 2.3 cents.
Average prices by region and a breakdown by grade follow after the "Read more>>".
Infographic of the Day: UX vs Web Designers
A web
page has to look good and also be functional / easy to use. Today's
infographic explores some of the basic differences between a UX (user
experience) Designer and a Web Designer?
