Futures Pressured Lower; Shanghai Down 5.2%

Futures and commodities are sliding on the latest fears: There is widespread speculation that to quell its rising inflation, China will raise interest rates.

Asian markets were down: The benchmark Shanghai Composite Index fell 5.2% Friday, erasing nearly a quarter of the country’s three-month market upswing in a day. European Bourses slipped 1%. SPX Futures (see table below) are off nearly 3/4 of a percent.

Trading in the US the past few months has been very resilient. Despite numerous opportunities to go into a deep slide, equities have traded back to from the depths. We have not had a very negative day in some time — intraday lows are appreciably worse than closing prices.

The market is trading poorly, yet refuses to go down. There seems to be a firm bid beneath.


Category: Markets

Janet Tavakoli on Foreclosure Fraud

Janet Tavakoli, Tavakoli Structured Finance, discusses bank and foreclosure fraud via Goldman Sachs, JP Morgan, Countrywide, Bank of America, Citigroup etc. with David Fry

Janet Tavakoli on Bank Foreclosure Fraud from David Fry on Vimeo.

Category: Foreclosures, Video

Home Seizures Fall 9% in Nationwide Fraudclosure Probe

That pesky Due Process and rule of law thingie is soooo annoying: “Home seizures in the U.S. fell 9 percent in October from the previous month, the biggest decline in a year, as attorneys general began a nationwide probe into lender foreclosure practices, according to RealtyTrac Inc. The number of properties taken back by banks…Read More

Category: Foreclosures

Sarah Palin: Fed Historian, Part II

Invictus here. I’m simply unable to resist the temptation to weigh in on the Sarah Palin v. Ben Bernanke QE2 inflation controversy. I’m drawn to the intersection of economics and politics like a moth to a flame. So apologies to those who read BR’s post on this and are now subjected to my take. It…Read More

Category: Current Affairs, Data Analysis, Economy, Financial Press, Inflation, Politics

Will Sharp and Immediate Spending Cuts Weigh On or Boost Growth?

Dan Greenhaus is Miller Tabak’s Chief Economic Strategist. In this capacity, Dan is charged with aiding clients in the formulation and implementation of investment ideas through global market and economic analysis. He has contributed several chapters to Investing From the Top Down: A Macro Approach to Capital Markets by Anthony Crescenzi. > Will Sharp and…Read More

Category: Economy, Think Tank

Jeremy Grantham: Have Cash, Wait for Stocks to Fall


Category: Video

How to Offend the Entire Planet with One Image

Very amusing: > Source: Some E Cards > Previously: The World According to Americans

Category: Humor, Weekend

The Brutal Decline of Yahoo

Jess Bachman, who did the terrific illustrations for Bailout Nation, turns his attention to Yahoo’s epic collapse. This is only the upper 10% of the graphic or so: > click for ginormous graphic Via Scores >

Category: Valuation, Web/Tech

Six-Year Old Skateboard Wizard

Asher Bradshaw is a six-year old skateboard wizard: watch him thrash like a fiend at the Venice Beach skate-park and marvel. hat tip boingboing

Category: Weekend

Inflation? Not According to a Billion Prices

> Those of you who regularly complain/mock/kvetch about the BLS methodology for measuring CPI prices — and I am as guilty as anyone else — should check out the “Billion Prices Project @ MIT.” The idea behind the Billion Prices Project is that we can track inflation by collecting prices from hundreds of online retailers…Read More

Category: Data Analysis, Inflation, Retail