Articles posted on Friday, 7 November 2014
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The Final Death and Next Life of Maynard Keynes
by James K. Galbraith
It's of course a great privilege to be here in this role and especially on the occasion of the 75th anniversary of the publication of the General Theory.
 Market Commentary: Some New Highs Made, Trading Mostly Sideways
Written by Gary
Closing Market Commentary For 11-07-2014
About 2:30 pm the averages dropped fractionally, regained somewhat and just before the close leveled off where the DOW made a new closing high while the rest of the major averages closed flat and mixed.
By 4 pm the markets closed lackluster and on low volume. The last few seconds was a sharp push upwards as the BTFDers jumped in and pushed the large cap averages to new closing highs.
 What We Read Today 07 November 2014 Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
Market Commentary: New Highs Set, Small Caps Lower, Volume Falling
Written by Gary
Midday Market Commentary For 11-07-2014
By 11 am the SP500 tried again to best its opening high (it did by +0.18) but couldn't move higher and traded sideways in a tight narrow band before heading down. All of the other averages remained in the red not even coming close to the unchanged line.
By noon all that had changed as the SP500 had melting up higher along with the DOW posting new highs. The small caps had eased up to the unchanged line as the volume fell and then the markets eased back fractionally. Hang on it could get worse.
 31 October 2014: ECRI's WLI Continues Its Journey Into the Dark Side. Slight Contraction Being Forecast. ECRI's WLI Growth Index again declined further into negative territory - declining each week for the last 7 weeks. The growth index is at the lowest level seen since July 2012. Obviously the forward looking markets do not believe what this index is saying as it is forecasting a slight contraction in 1Q2015. ECRI's Inflation index was also released this week showing growing inflationary pressures/Caught on camera as Journalist is carjacked by armed gunman in Australia Australian news cameraman films an armed carjacker who takes his car and the police standoff that ensues. Coincidently the cameraman was on his way to film the same gunman who had assaulted a woman in her home on Thursday November 6. Market Commentary: Markets Open Higher, Immediately Trend Lower
Written by Gary
Opening Market Commentary For 11-07-2014
Premarket sudden rise to +0.3% this morning has been contributed to HFT algo computers misreading the morning US financials. The US dollar fell, the oils rose, gold skyrocketed, silver halted and by the opening the futures and commodities had dropped back to the unchanged line. The prospect of future high volatility and rapid reversals is upon us.
By 10 am both the SP500 and the DOW momentarily reached a new high and then proceeded to trend down in a sea-saw fashion just below the unchanged line. Just where is Mr. Market is going today?
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A Pentagon insiders new book explains why we are on the cusp of a major crisis that could wipe out the savings of millions. We bought over 1,000 books and want to send you a free hardback copy. Get it here.
BLS Jobs Situation Again Strong in October 2014 Even If It Was Under Expectations. Best Unadjusted Employment Gain Since 1939. Written by Steven Hansen
The BLS jobs report headlines were strong but under expectations. The unadjusted data - on the other hand - paints a strong picture of job growth this month.
Where are We? A Psychological View
Sungarden Investment Research Article of the Week
by Rob Isbitts, Sungarden Investment Research
When markets get temporarily unruly as they have recently, it tends to drive folks like us to go back and prove to ourselves once again that each and every part of our existing portfolios (the stocks and the hedge positions we own) is as valid to us as it was when we bought it. And, with many stocks on our watch list getting closer to being viable additions to the mix as their prices drop, we are essentially scouring our investable universe to see if we can either improve our upside potential, strengthen our defenses, or both. It is a rigorous process, always.
 Samsung Loses Ground as Smartphone Competition Heats Up
by Felix Richter, Statista.com
Fueled by strong growth in emerging markets, global smartphone shipments topped 300 million units for the second consecutive quarter.
 It's the Court, Stupid!
Written by William Kurtz
The Supreme Court sits at the very top of the governmental pyramid which controls our lives.
Of all of the massive deconstruction of the practical meaning of the Republicans' maintenance of majority control of the House of Representatives and of their gaining of majority control of the Senate, no comment that I have seen discusses the effect of that control over the everyday life of every American citizen.  Department of Defense's Needs Significantly Exceed the Funding Available under the Budget Control Act
from the Congressional Budget Office
[Editor's Note: Based on the recent election results with Republican control of the USA purse strings, this will become an entertaining discussion for the 114th Congress]
To provide information about its plans beyond the coming year, the Department of Defense (DoD) generally provides a five-year plan, called the Future Years Defense Program (FYDP), that is associated with the budget it submits to the Congress. Because decisions made in the near term can have consequences for the defense budget in the longer term, ....
Median Household Wealth Declined over Past 25 Years
from Center for Economic Policy Research
A new report from the Center for Economic and Policy Research (CEPR) shows that most households now have less wealth now than they did in 1989. The report, 'The Wealth of Households: An Analysis of the 2013 Survey of Consumer Finance,' presents data on household wealth by age cohort based on the results of the most recent Survey of Consumer Finance (SCF). The analysis shows little or no gains for the majority of Americans over the last 25 years, even in the years since the end of the recession. This is true of and particularly concerning for near retirees.
 Fraud Charges Against Allen Park, Mich. For Misleading Statements About Viability of Movie Studio Project Municipal Bond Offering
from the Securities and Exchange Commission
The Securities and Exchange Commission today announced fraud charges against the City of Allen Park, Mich., and two former city leaders in connection with a municipal bond offering to support a movie studio project within the city.
 Infographic of the Day: Alien Comets of Star Beta Pictoris Explained
At only 23 million years old, the Beta Pictoris star system is very young compared to Earth's solar system.
 Investing.com Technical Summary 06 November 2014
Investing.com Technical Analysis (as of Thu, 06 November 2014 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 close of the 06 November 2014 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.Senate Hearing Set on Secret Recordings at N.Y. Fed
Special Report from ProPublica
by Jake Bernstein, ProPublica.org
A U.S. Senate subcommittee will hold a hearing Nov. 21 on issues of regulatory capture following stories by ProPublica and This American Life about secret recordings made by an examiner at the Federal Reserve Bank of New York.
 The Deadliest Countries for Journalists in 2014
from Felix Richter, Statista.com
by Niall McCarthy
So far in 2014, civil war ravaged Syria has proven the deadliest country in the world for journalists.
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