Monthly Archives: September 2012

Economy, Employment and the Permanent Fiscal Cliff – Free Russ Winter Podcast

Four and a half minute podcast available on this topic. A Reuters article covered various trends now taking place on the so called fiscal cliff (correct term should be permanent cliff- David Stockman’s term). A survey, by Deloitte, found that chief financial officers’ view of business prospects had darkened in the current quarter. Some 80 percent of U.S. CFOs […]

The Fat Lady is Ready to Sing: the Earnings Cliff is Here – Free Russ Winter Podcast

Three minute podcast on the earnings cliff. Seeing more of this: the earnings cliff may be here. Reaction is very perverse, these individual stocks get hit, but the indexes look rigged with little response so far. – Norfolk Southern (NSC) lowers its…

The market is in a bubble, but at what stage and how long can it last

Lee Adler discusses why the Fed’s action is consistent with an ongoing bubble, and Russ Winter agrees but says the market is ripe for massive dislocations, due to lack of depth. Lee spells out the technical outlook, and key benchmarks…

Free Russ Winter Podcast: Charades

Five minute podcast: Charades “Faith in the Federal Reserve is in a bubble.” – Jeff Gundlach Five minute podcast: Charades This is what moral hazard looks like in a Ponzi , central planning crony capitalist system.  Remember the Spanish finance issues? Covered apparently, as  yields on Spanish and Italian debt go to multi-month lows, European fund managers are overweight the sector.  Not wanting to miss the window of lower rates, Spanish corporate borrowers are rushing paper to market (Santander Friday). Post-ECB Madrid quickly issues $6B in a private placement to finance its bank bailout scheme. Thinking victory is in hand,  PM Rajoy in his first TV interview since the ECB OMT announcement, says Spain will not accept a bailout which comes with strings specifying which areas of government will be cut.  If there’s one thing he will not do, he says, it’s to cut pensions.  Apparently it is not necessary for the insolvents to even ask for the bailouts, all they have to do is bluff and engage in charades, and the Ponzi lovers show up with bids. On Spanish charade watch comes news that housing prices for August were down 11.8% YoY. Overall, Spanish house prices are down a cumulative 32.4% from the December 2007 highs (back to 2003 levels). Hundreds […]