Thursday, January 10, 2013

Business as usual

Greetings good citizen,

While it is still WAY ‘too soon to tell’ it seems you’re ALL voting for ‘gutter-gums’, so there is no need to leave the security of the opt-in firewall.

If you’re here it is because this is where you want to be!

All righty then, let’s have a look at where we are!

U.S. Consumer Watchdog to Issue Mortgage Rules

In an attempt to prevent future housing crises, the Consumer Financial Protection Bureau is issuing new laws for lenders.
Um, I know this isn’t the ‘popular’ viewpoint at the moment, most are touting housing’s ‘recovery’ (relative to what we are still unsure.) But it is my ‘opinion’ that the housing markets are toast, houses are ‘all done’ as far as being an ‘investment’.

In order for banks to ‘make money’ originating mortgages, the borrowers need to be paid enough to ‘live on’…and with energy prices poised to hit ‘boing’ at any moment (today’s price is $94 a barrel) the question of ‘how much is enough’ will remain a ‘wildcard’ for quite some time.

The prediction of the ultimate demise of housing hinges, as few of you suspect, on how many will survive the energy crunch.

Without energy there won’t be a ‘housing market/mortgage industry’ left to save.

Although it is conceivable that our (foolish) capitalists will keep the housing industry ‘alive’ in the narrow zone where heating and cooking indoors aren’t ‘musts’.

Okay, not a particularly ‘promising’ start but maybe it will get better:
Morgan Stanley is shrinking its once-powerful trading business, leaving more of the sector to its bigger banking rivals.

Deep Cuts Raise Questions About Morgan Stanley

Whether Morgan Stanley can avoid shrinking further and revive its fixed-income trading business will have significant ripple effects in the financial world.

Um, considering Morgan Stanley ‘OWNS’ GE, I wouldn’t be too quick to write their epitaph just yet. Unlike the other ‘financial fraudsters’ J.P. Morgan has a real stake in the bricks and mortar economy…although that stake is run by idiots, it is still successful despite itself.

Moving on:
European Central Bank Leaves Key Rate Unchanged

The central bank, which left its benchmark rate at 0.75 percent, appears to have concluded that a rate cut would be powerless to solve a credit crunch in countries like Italy and Spain.

Bank of England Leaves Interest Rate at Record Low 7:14 AM ET
In case any of you are wondering, raising interest rates now would obliterate the global banking network and stock markets around the world in a single day.

But our next story begs the question of just how vital the banking network really is?
Obama’s Pick for Treasury Is Said to Be His Chief of Staff

President Obama will announce on Thursday that he intends to elevate Jacob J. Lew to be the next secretary of Treasury, officials familiar with the decision said.
Um, there has always been a patina of ‘patronage’ surrounding cabinet posts but one always assumed the Secretary of the Treasury had to be at least a little ‘knowledgeable’ when it came to the world of finance.

Although Timmy has done the job for the past four years and he doesn’t know anything, so how bad can it be?

How did we get here again?

Did I make my point?

No? Then I doubt you’ll see this one:
Bits Blog
The 2012 Patent Rankings: I.B.M. on Top (Again)

I.B.M. was granted more patents than any other company in 2012, its 20th consecutive year in the top spot. But the big movement in the rankings comes from Google and Apple.
In THEORY ‘patents’ protect the ‘discoverer’s’ right to exploit certain information. How bizarre is it good citizen that absent capitalism there would be no need for such ‘protection’?

(Which is not to say that patents have protected anything from the suitably deep-pocketed, if you catch my meaning.)

One need only take a hard look at what patents have done to the field of medical research to be convinced it is time to end this counter-productive practice.

But who listens to me?

Wall Street Moves Forward

Stocks rose as stronger-than-expected exports in China raised hopes for a more robust recovery in the global economy this year.

Unexpected Sharp Rise in Exports From China

So, share prices ‘jump’ on ‘unexpected’ rise in Chinese exports…does this sound like ‘sandbagging’ to you too, good citizen?

Which export do you suppose it is (because you know it isn’t ‘across the board’ although that is what the article would like you to believe…)

Think it might be a pick-up in ‘rare earths’ that China had threatened to ‘squeeze off?’

And, as of 10 AM the Dow was only plus ten points and headed straight, you guessed it, down!

So today’s lede may not be its conclusion…

Well, I’m have a ‘good day’ despite the absymal ‘status quo’ the thieves have created for us to wallow in.

Thanks for letting me inside your head,


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