The image above is from a series of shots taken by satellite over the course of 11 years. It will be used by scientists to get a better idea of how economies in developing countries are growing. In many places, the data reported locally just isn’t reliable or robust enough to truly capture the rate…
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Hot Links: Prechter, Keynes & MJ's Glove
Stuff I’m Reading this Morning… Elliot wave fanatic Bob Prechter looking for $10 a barrel crude oil over the next few years, completing the supercycle that started in the 90’s. (Clusterstock) Karl Denninger explains karma to Bank of America. (MarketTicker) Abercrombie can’t catch a break. (YahooFinance) Michael Jackson‘s glittery glove is going up for auction….
July Retail Sales…Yep, Still Ugly
Europe and Asia were leading the way higher for S&P futures early this morning…until this ugly bucket of cold water was thrown at the optimists. What you’re looking at here is July Retail Sales broken down by sector. Don’t get too fired up over the Cash 4 Clunkers-induced gain for the autos. We’re not going to…
You and Us. (*unless things get ugly, then you're on your own)
One of the more curious features of the wealth management business over the last few years was the unfair competitive advantage that some firms had over others because of their innate ability to offer tax-evasion-as-a-service to high net worth investors as a selling point. It’s nice to hear that someone out there in Governmentland actually cares……
Setting the Record Straight Re: Bill Singer
I owe someone a major apology for something I wrote last week which was completely disingenuous to their standing and reputation in our industry. It all started when I read an article in Forbes that I felt was insulting to professionals in the brokerage and advisory industry. Since I’ve started my career, I’ve seen a…
Fed Leaves Rates Unch, Kass Sees Possibility of Much Higher Rates in the Statement
OK, so my excitement for today’s FOMC meeting notwithstanding, today’s statement, on it’s surface, didn’t appear to contain anything new. That said, TheStreet.com’s Doug Kass, my fave market commentator, has come away with a different perspective on what may have been said between the lines. 8/12/2009 2:48 PM EDT From my perch, the Fed report suggests…
FOMC Day! Get Your Programs!
I love FOMC Day! From the moment I wake up, my stomach is filled with butterflies, really pretty purple and pink ones, as I look forward to the 2 o’clock hour. At this appointed hour, the chairman of the world’s most secretive monetary institution descends from on high with his stone tablets, which are emblazoned…
Frank Langella Joins the Wall Street Sequel
This is cool, from Variety: Frank Langella set for ‘Wall Street 2’ Actor joins LaBeouf, Douglas in Stone sequel Frank Langella will join the cast of “Wall Street 2: Money Never Sleeps,” the Oliver Stone-directed sequel for 20th Century Fox. Shia LaBeouf stars with Michael Douglas, who’ll reprise his Gordon Gekko role. Josh Brolin is…
On the Plus Side…
A good way to look at all that “less bad” data we keep hearing about… Sources: Cagle.com
Droppin' Knowledge: Matt Horween Unleashed
You guys know how much I love righteous indignation as a writing style. Matt Horween of TheStreet.com is ladling it out thick for anyone with a bowl in his six part op-ed that will run every day this week, enitled Fix America Now. Yesterday’s opener was crackling with skepticism over our military expenses in the…
