Positives

1) Q4 Real final sales solid
2) Consumer confidence jumps, answers to job market questions improve
3) Pending home sales and new home sales bounce (but we don’t need new ones right now)
4) Germany consumer confidence at best since Oct ’07
5) EFSF sale of 5b euros hugely successful
6) DJIA close above 11,872 would be 9th week in a row of gains, 1st time since ’95

Negatives

1) Real and Nominal GDP below forecasts, low deflator makes Real look better
2) Durable goods orders below expectations (but Nov revised up and core cap ex good)
3) Inflation expectations in UoM hit highest since Oct ’08
4) S&P/CS home price index falls to 8 month low
5) Japan called out by S&P as nation chokes on debt with no plan
6) UK consumer confidence near 2 yr low, Q4 GDP unexpectedly contracts
7) German import prices rise at fastest pace since ’81
8) Egypt erupts
9) Fisher and Plosser roll over for King Dove Bernanke

Category: Investing, Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

17 Responses to “Succinct Summation of Week’s Events”

  1. VennData says:

    While the Wall Street Journal reports that the Obama administration wants democracy in Egypt…

    1) “Obama administration officials cautioned against drawing parallels across the region but pushed broadly for governments to respond.”

    http://online.wsj.com/article/SB10001424052748704268104576107733896717262.html

    2) Secretary of State Hillary Clinton said the U.S. “wants to partner with the Egyptian people.”

    http://online.wsj.com/article/SB10001424052748703956604576109323492986438.html

    …the Wall Street Journal Opinion page says they don’t. Someone has got to be lying, Rupert, Who is it, your reporters, or your opinion drafters?

    U.S. diplomats opposed any alternative to Hosni Mubarak.

    http://online.wsj.com/article/SB10001424052748704268104576108380209253402.htm

    So…

    …do you recall how the Bush administration took credit for “democracy in Lebanon” and uprisings in Syria (Which didn’t lead to democracy. Yet days after Hillary Clinton’s Speech on Middle Eastern Democracy Tunsia had a revolution …and now Egypt does two years after Obama’s Cairo speech. …and the GOP media machine is running at the mouth how Obama doesn’t support it.

    These GOP are the same ones who told you not to buy stocks after the Obama election. Are you finally getting it?

  2. rktbrkr says:

    While everyone was watching Chinese bubbles and Euro PIIGS we had an Egyptian Black Swan sneak up behind us. Actually Egypt is just a black duck unless they shut the canal or the excitement spreads to the arab petro states

  3. Got time for a Qwiki? – The Globe and Mail

    Great new toy. I’ll let the globe explain it because they do it well:

    Wolfgang Amadeus Mozart was born 250 years ago. He died at the age of 35. Many believe acute rheumatic fever was the cause of his death. If not for Qwiki, I’d never have discovered this little piece of history.

    The site, which went public this week, offers up an “information experience.” While it might sound a little flaky, within a minute of landing on the homepage I was hooked. Whether you enter a famous person, place or thing (or even a humble technology journalist), Qwiki will display a unique narrated slideshow on the topic complete with facts pulled from Wikipedia, among other media sources.

    Globe story:

    http://www.theglobeandmail.com/news/technology/digital-culture/trending-tech/got-time-for-a-qwiki/article1886056/

    Qwiki site:

    http://www.qwiki.com/

  4. IS_LM says:

    Negatives 3) and 9) should be in the positive column. I fail to see how rising inflation expectations is bad, especially in light of Negative 1). What do you think the point of QE2 was, exactly?

  5. Invictus says:

    Today was the Worst day since 8/11/2010 on S&P…

  6. rip says:

    Does this week’s activities mean there are WMD in Egypt and the Suez Canal must be protected at all cost?

  7. Does this week’s activities mean there are WMD in Egypt and the Suez Canal must be protected at all cost?

    That’s just a coincidence. What it really means is that Uncle Ben’s printing press ran out of ink and they have sent for another cartridge.

    Please stand by

  8. rootless says:

    @VennData:

    These GOP are the same ones who told you not to buy stocks after the Obama election. Are you finally getting it?

    What are “we” supposed to finally get? That Obama and his administration are closely affiliated with the interests of the owning and investing class (“the capitalists” in Marx’s term) in United States? That this administration will do a lot to protect the monetary interests of this class, e.g. by supporting asset price bubbles like the one in the stock market, even though these will just lead to the next crash, or protecting bond holders of financial institutions against taking losses from their failed, risky investments? In contrast to what the GOP has claimed about the Obama administration? And that Obama’s words about “hope” and “change” are mostly platitudes for the masses? Of course, the GOP propagandists are lying. The Obama administration is much more similar to the previous one than they like. Oh, I don’t need you to lecture me to get this. I had known this before. It’s capitalism after all. It will never be different with any government.

  9. louis says:

    They turned off the internet. How will they get to youtube?

    http://www.youtube.com/watch?v=wgTPH5y1-ZI

  10. jeff in indy says:

    neg #5: wonder if s&p’s “lack of coherent strategy..” language is a trial balloon for a much larger target.

  11. bulfinch says:

    8) Negative?…

    I dunno…It sorta gladdens my heart to know that there’s still a whiff of backbone left in the human genome.

  12. Greg0658 says:

    rootless to VennData last evening .. folks think or wish the POTUS is/was king puppet master .. POTUS job is primarily public relations .. I think I just read the focus was all wrong with HCare (maybe) (thats a big problem – now thrusted in your face)

    so its the economy stupid .. and we’ve got a bouyant working class floating on a sea of money (salt money – unfit to drink) .. what to do what to do what to do .. how about a tax structure that is a long tail slow increase from:
    earn $10K = 1 dollar tax
    earn a gagillion dollars = 99.99% tax
    .. in between a long tail gradual but increasing burden for your success .. a tax for the benefits the system provides your enterprise for sure …. the business decides when enough is enough .. the vacume never becomes a vacume and air is left for someone else to play ball on the field with