By John Galt August 24, 2011 – 22:30 ET Sorry to sound cruel to those who have endured or those about to be engulfed by this monster storm, but the question has to be asked. The storms of 2004-2005 were thought to be a major contributing factor to the ultimate decline and fall of the U.S. economy in 2007 as Federal government spending and waste went into overdrive after the 2004 Florida hurricane blitz with government stimulus to help our state recover then in 2005…
By John Galt August 24, 2011 – 21:30 ET Is It Time For ‘Dining Time Limit’ In NYC Restaurants? Dog eats $10K worth of diamonds Skeletons force their way out of graves in Saudi Online Islamist: East Coast earthquake ‘Allah’s punishment on Americans’
By John Galt August 24, 2011 – 18:40 ET Uh, all I have is a headline but I thought the “Apple” nuke test photo was appropriate. Can we say “short the QQQQ’s tomorrow” boys and girls? Wow. From the WSJ: Full release from Apple now available: PRESS RELEASE: Letter from Steve Jobs August 24, 2011–To the Apple Board of Directors and the Apple Community: I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s…
By John Galt August 24, 2011 – 18:30 ET I’m going to need more popcorn and beer for this fight, it’s getting good now. God I’m going to hate this if Twitter EVER goes to the Pay-Per-View concept…. And the bear with the Lion’s Heart replies: Follow me on Twitter as I follow both of them and enjoy the back and forth. Though I am biased and tend to support the guy who doesn’t act like a dirty old man at South Beach disco’s.
By John Galt August 25, 2011 – 16:30 ET Remember, gold is the adjustment for inflation; the chart for the DJIA in 1999 is not adjusted for inflation or “priced in 2005 dollars” as the BLS and BEA likes to game it. No other commentary is necessary other than my previous entry. (Click on the chart to enlarge/reduce) On August 25, 1999 the DJIA closed at 11,326.04. Today it closed at 11,320.71. I’m just sayin’. 3 weeks ago, gold was rallying above today’s levels. I’m…
By John Galt August 24, 2011 – 13:55 ET A little late posting this from the report this morning but I wanted to check some data and see if my hunch was correct. As usual, it was. Thankfully machinery and capital goods orders do look better but generally the headlines flashed across the screens this morning tell a tale of using month over month and year over year statistics to extract the most desirable headline. The trailing 6 month non-seasonally adjusted figure though shows a…
By John Galt August 24, 2011 – 13:30 ET The hottie doesn’t seem to concerned about her gold (yes, sex sells). Seriously, if you are freaking out, click on the banner above this article and sell Bobby all your precious metals so you don’t have to worry about the CNBS Fast Money team knocking on your front door and saying: Gold is selling off today and if anyone has been listening to my program, I’ve warned about $100 plus days swinging to the upside AND…
By John Galt August 24, 2011 – 08:55 ET Starting this month I shall be updating the series, sometimes with a special news entry when justified, but definitely in the Economic stats and data pages in the upper right hand corner of these pages. The latest sales figures reflect the depression in real estate continues with an average duration on the market for new homes still in excess of 6 months, this month at 9.4. Until the housing market recovers the American economy will flounder…
By John Galt August 24, 2011 – 07:35 ET Uh, recovery? Bueller? Anyone? From Reuters (click on headline to read full story): Mortgage purchase applications at 15-year low: MBA 7:13am EDT NEW YORK (Reuters) – Home mortgage applications for purchases fell to a nearly 15-year low last week as resurgent worries about the strength of the economy kept buyers at bay, an industry group said on Wednesday. Sadly the worries are not unfounded. But convincing the beanheads who actually believe the bovine scatology their bureaucratic…
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