Thursday, July 12, 2012

Dogs and Foxes

Greetings good citizen,

Today’s Business headlines remind me of the old joke, ‘What’s the difference between a Dog and a Fox?’

The answer is another famous quip…Budweiser doesn’t brew enough to drink her pretty…by the time I get that drunk I pass out.

Which is to refer us to another tired cliché…the one about putting lipstick on a pig.

Let’s get parsing, shall we?
HSBC to Apologize at Senate Hearing
By MARK SCOTT and NEIL GOUGH 49 minutes ago

HSBC, Europe’s largest bank, will apologize to American authorities next week for failing to prevent potential money laundering activities from taking place at the bank, according to an internal memo.

Remorse somehow never quite goes far enough…and we can all appreciate that what they’re ‘sorry’ about is not what they did, but getting caught doing it.

So how much you want to bet the ‘usual outcome’ will be the end result?

If ANYTHING happens at all it will be a small fine and a slap on the wrist (with a wet noodle.)

Sidebar, I was bringing in the mail yesterday and I noticed the postage stamps now read ‘freedom’ or ‘justice’ with the added subtext ‘forever’ underneath and I couldn’t help but wonder if the stamps were foreign…

Euro Watch
Glimmers of Hope Fail to Lift European Markets

European industrial production rebounded unexpectedly and Italy's short-term borrowing costs dropped, but the mood remained fragile.

Spain’s Leader Plans New Austerity Steps as Miners Clash With Police
Italy’s Leader Calls Economic Efforts a ‘Very Tough War’
Weak U.S. and European Economies Weigh on Asia

Industrial production ‘rebounded unexpectedly’…once again we are faced with the question of ‘degrees’ or as they say ‘define rebound’?

Usually this ‘variation’ in the data turns out to be a math error but if the error is favorable they will run with it to see if they can’t improve ‘market psychology’.

I will once again remind you that facts don’t matter, it’s all about ‘perception’.

It’s the old ‘spoonful of sugar’ routine minus the Mary Poppins song and dance bit. As you will note, they’re ‘selling’ austerity over there.
Wall Street Opens Lower
By THE ASSOCIATED PRESS 36 minutes ago

Shares fell despite better-than-expected data on unemployment claims.

U.S. Jobless Claims Plunge to Lowest in 4 Years 9:30 AM ET

If you keep making right turns you will eventually return to your original course…and yes good citizen, it was the fourth consecutive ‘down day’ for the NYSE that made the question of the difference between a dog and a fox pop into my head.

And the rest sort of followed that initial mental hiccup.

We all know that falling claims have nothing to do with the actual unemployment climate.

There are no jobs nor will there be any for as long as the global race to the bottom, driven by ‘more with less’, ends.
Fear of Year-End Fiscal Stalemate May Be Having Effect Now

Economists say uncertainty over tax increases and spending cuts set to take effect at the end of 2012 could be cutting into economic growth already.

Graphic: Measuring Uncertainty Over U.S. Policy

We all KNOW what’s going to happen after November and we’re ‘bracing for impact’.

After the elections oil/energy prices are going to climb through the roof and stay there. It’s happened every time right after the run up to the elections end.

How unfortunate is it that we elect our leaders just before Winter sets in?
The Fed’s chairman, Ben S. Bernanke, has said that additional action should not be taken lightly.
Fed Is Torn on Tipping Point for Action

An account of the June policy meeting shows concern over slow growth was weighed against uncertainty about the consequences of new intervention.

How many ways can you say, ‘We don’t have any ammo left?’

The question is how long can they keep up the charade and the answer is…not much longer.

U.S. Trade Deficit Declines in May
Funny how if you don’t sell the last load of imported bullshit you don’t need to import as much next time…and the ‘Trade deficit’ magically declines as a result! (fucktards)

Scott Zaremba, owner of Phillips 66 in Lawrence, Kan., which has begun offering regular cars fuel that is 15 percent ethanol.

In Kansas, Stronger Mix of Ethanol

Ethanol makers want to offer a blend of fuel that is 15 percent ethanol rather than 10 percent. At a Phillips 66 station in Lawrence, Kan., E15 is catching on.

Perhaps more pointedly is how none of the farmers in Kansas own a fucking lawnmower (that ethanol is destroying!)

Great for corn farmers receiving huge subsidies…sucks for everyone else…besides the disturbing implications of stepping up the production of food into fuel, definitely not ‘sustainable’…not that the fucking capitalist cares.

So will tomorrow answer the question of ‘what’s the difference between a dog and a fox? When the stock market inexplicably rises…for no apparent reason except ripping the rest of us off?

When stocks appreciate for no apparent reason YOU lose. What you’re seeing is the ‘depreciation’ of your purchasing power. While the already wealthy unjustly enrich themselves further.

If we don’t put a stop to this blatant robbery we will all find ourselves well and truly.

Thanks for letting me inside your head,


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