Friday, April 26, 2013

The Economic Argument Is Over — And Paul Krugman Won

Hardly. The entirety of the last decade proves that money printing and government spending (which are tied at the hip, an argument defensible by looking at debt to GDP, which exploded after Nixon took us off the gold standard) are the problem and not the solution. Money does create wealth, money is a consequence of wealth derived from producing goods and services. The depression is the recovery. In any event, here is the video.

And don't get me wrong, I would probably be more wealth off (at least in nominal terms) if Krugman and the rest of the Keynesian cronies do 'win' the argument.

The Art of Short Selling- Jim Chanos

This is from an interview (or series of ) Chanos did on CNBC recently. This is some good stuff and well worth watching.

If Only

This is too good not to share. As tweeted by ZeroHedge

If only the Fed was monetizing $850 billion a month instead of $85 billion, none of this would have happened.

GDP Comes in Below Expectations

GDP was just reported and the advanced estimate (read fantasy number subject to change) came in at an annualized rate of 2.5% vs. expectations for 3% growth. Annual growth was 1.8%, better than the 1.7% change in the fourth quarter last year but not by much. As I stated in my twitter account (here), I was taking the under in the over/under bet on where GDP would come out. There is just too much evidence (low ISM, decelerating employment figures, low GDP growth itself, etc.) to suggest that growth in the economy accelerated.

I think Kyle Bass put it well in the following tweet......

Growth slowing. Those that are long based on accelerating growth are simply wrong - it was all policy/liquidity induced.

Regardless, the market's seem unfazed by the report, with futures little changed before and after 8:30 a.m.

4/25 Edition of Volume Off the High

Not as many high volume sell offs, relative to the high volume high list, but still a lot more than usual.

High Volume High 4/25 or Wow There Is a Lot Edition

Just a lot of new stocks or funds making new highs on volume....

Thursday, April 25, 2013

4/24 Edition of Volume Off the High

A lot more volume off the high names than I really would have thought. What is really interesting to me, a lot of big, blue chip names are coming off the highs with heavy volume. This includes many solid and defense names (the names- defensive that is- that have been leading to higher market gains in recent months) including AT&T and Proctor & Gamble.