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calendar   Thursday - March 08, 2012

the financial markets and something to laff about

This is I think, the first time I’ve ever posted anything with regard to the financial world. That’s cos when I add two plus two I always get 5 and so never took on the responsibility of balancing a checkbook.  In the words of the immortal Bob Newhart, I always thought if I came within a dollar of it ....

But there is some I understand, slightly.  For the really complicated stuff, seriously here, I ask the wife who while not a stock market maven is still quite knowledgeable when it comes to things like most of what you’ll see below.  And she really does read the financial section cover to cover while I simply skim.
I read the easy bits and skip the complicated stuff entirely.  Oh yeah. I like the pictures too.

So as I was saying when interrupted by the tea tray with the best roasted almond cookies ever made anywhere (why do the Brits call em biscuits?), I’d like to draw your attention to the following.  With all the gloom and doom and talk of a falling sky, the Tech Index NASDAQ and more specifically the Qs (QQQ) which is where most of the tech company shares are, continue to do well. But it’s the Qs that interest me above all else.  Damn things went from 54 to near 65 in a matter of months while I was asleep. Now they’re beyond our reach and options are out of the question. Every year like clockwork and you can check it for yourselves, after the earning season is over and done in Jan., the Qs would drop and drop along with many of the stocks that make it up. The idea was usually buy in May at the low and then sell in Jan. Always seemed to work that way. Except this year. So far, all this gloom stuff doesn’t seem to have bothered that index at all.
Oh for a really good repeat of the glorious tech bubble where I learned words like, Dell, Intel INTL, Microsoft, MSFT, Doubleclick DCLK, Earthlink ELNK,Yahoo YHOO, Amazon AMZN, The list was endless.  So here. I cut out some quotes of some interest for those (like me) who care.

Hey before I forget ..... what this Medicare Tax thingy I see here?  What’s with that? I’m way outta touch on this side of the Atlantic.

Fed chair Ben Bernanke warned last week that the US faces a “massive fiscal cliff” at the end of 2012 as tax cuts expire and the axe falls on $110bn of spending due to “sequestration”. Medicare taxes also kick in. “All those things are hitting on the same day, basically.

“Every time the US economy falls below the stall speed at 1.75pc it falls into recession: we have now been below that for the last three quarters,” said Albert Edwards from Societe Generale.

Profits are sliding instead of rising robustly,” he said. The 12-month “forward earnings” data have peaked, replicating the pattern seen at the onset of the bear market in 2007.

The historical relationship between bonds and equities has completely broken down over the past six months. “You can’t have a sustained period where equities are going up, while bond yields are flat or trending down,” said Mr Secker.
One or the other must give, and bears have no doubt which it will be.

Meanwhile, banks parked a record €827bn back at the ECB this week. They are hoarding funds in case the credit markets seize up again, or to meet debt repayments as their bonds fall due.

In other words guys, that’s 827 billion that is NOT in the market. In our dollars that’s > $1,095,816,115,477.37
And places like Switzerland and the Caymans don’t have to report anything.

In China, premier Wen Jiabao has downgraded growth forecasts.

Credit Suisse said China’s great industrialization boom is over, with nasty implications for the commodity supercycle.

“We believe the golden age of infrastructure investment is behind us now. The golden age of the housing boom is behind us now. The golden age of export is behind us now. The golden age of policy stimulus is behind us now. Doing a head massage simply does not use as much steel as building an airport,” it said.
The Shanghai stock market has been signalling trouble for a long time, falling more than 60pc from its peak in late 2007.

At the end of the day, there is still a lack of demand in the global economy.

UNEDITED AND COMPLETE VERSION HERE

image

Now back to our regularly scheduled program. After all of the above, we need something like this from the funniest comic ever.
Charlie Callas, who passed away last year and no joke about it, I’m still in mourning.

And just in case you think all this guy could do was make us laugh .....


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Posted by peiper   United States  on 03/08/2012 at 01:54 PM   
Filed Under: • Finance and InvestingHumor •  
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