Archive for August, 2011
Posted by Larry Doyle on August 4th, 2011 5:08 PM |
“Everybody out of the pool” and “Adult Swim Only” are phrases that ring in my ear from my trading days at Bear Stearns. A long lost friend (God bless you, buddy!!) would bellow those statements when markets plunged like today.
What has recently drained the liquidity and lowered the water level in our equity market ‘pool’?
A number of critically important factors have been building and continue to haunt us.These include:
1. Meltdown in European sovereign debt. This is not and should not be a surprise. The meltdown was merely a matter of time. The outstanding question remains the depth and breadth of the meltdown. Stay tuned as risks remain very high.
2. The dysfunction in Washington truly displayed how screwed up our political dynamic is while shedding light on the enormity of our national debt and deficit. This reality is not changing anytime soon. Stay tuned as risks remain very high.
(more…)
Tags: Adult Swim only, another round of quantitative easing, as good as it gets, BEA Revisions Revisited, budget talks in 2011, Bureau of Economic Analysis, consumer activity, consumer spending, Daily Growth Index, economy at stall speed, everybody out of the pool, explaining GDP, GDP forecast, GDP revisions, God Bless Mike Zulawski, higher rates in emerging economies, is the economy going back into recession, lower GDP projections, market meltdown august 4 2011, market vs economy, QE3, quantitative easing, Rick Davis of Consumer Metrics Institute, Sense on Cents, stall speed for economy, stall speed on economy, U.S. debt and deficit, what caused the market meltdown august 4 2011, what drove the stock market lower august 4 2011, what is stall speed economy, why did the market dive august 4 2011, why did the market selloff august 4 2011, why did the stock market go lower august 4 2011, will we have a QE3
Posted in General | 3 Comments »
Posted by Larry Doyle on August 4th, 2011 7:11 AM |
I have a soft spot for those within our society whom I believe are preyed upon and ultimately victimized by the perils and pitfalls of modern day finance.
I fully appreciate that people need to be held responsible for their personal behaviors and decisions, but we need to acknowledge that the tangled financial web that our nation has woven has placed many members of our society in untenable positions.
The story I address today is perhaps one of the saddest I have encountered since launching Sense on Cents in early 2009. (more…)
Tags: are student loans a bubble, are student loans a scam, college students using sugar daddies to pay off student loan debt, college tuition sugar daddy, cost of higher education, friends with benefits, higher education, how students are paying off loans, Huffington Post article on Seeking Arrangement, is higher education a racket, johns, paying off student loans, prostitution in student loans l, scumbags preying upon students, Seeking Arrangements, Seeking Arrangements website, student lending industry, student loan bubble, student loan industry, student loans, students prostituting to pay student loans, sugar daddies, sugar daddies and students, Taylor from Hunter College
Posted in Education, General | 5 Comments »
Posted by Larry Doyle on August 3rd, 2011 8:19 AM |
A wide array of supposedly smart people are now informing us that the economy is slowing and may slip back into recession. The new phrase being used to describe our economic condition is ‘stall speed’.
Well how about that? Stall speed, they say. Is the economy truly slowing? Is it really?
Or perhaps did the real economy, that is the one in which we live and operate—not the one fabricated by Wall Street pundits and Washington politicians—never truly rebound?
I ask because I firmly believe that our domestic economy never truly rebounded in a meaningful fashion over the last few years.
I cautioned people to avoid the regular smoke and mirrors emanating from our financial and political hotbeds in spring 2010, and have continued to caution since, when I first equated our economic malady as akin to “walking pneumonia“.>>>>>>>> (more…)
Tags: BEA GDP revisions, Bureau of Economic Analysis, ddi we ever get out of recession, economy august 2010, economy never rebounded, green shoots, our recession never truly ended, revisions to GDP, Sense on Cents, stall speed economy, sugar high economic activity, sugar highs, the recession never ended, Uncle Sam economy, V-shaped recovery, walking pneumonia economy, we never got out of recession, what is stall speed
Posted in General | 6 Comments »
Posted by Larry Doyle on August 2nd, 2011 8:17 AM |
Information is everything. The appropriate use of information can be particularly powerful if not explosive.
Whether in the canyons of Wall Street, the halls of Capitol Hill, or in the most distant regions of our great nation, the value and use of timely information is critical in determining the truth as to 1. what did people know 2. when did they know it, and 3. what did they do with it?
The legal process known as discovery is critical to elevating our Sense on Cents virtues of truth, transparency, and integrity. What is discovery? (more…)
Tags: anti-fraud violations, ARPS, ARS, Auction Rate Securities scandal, auction-rate securities update august 2011, Brokerage May Buy Back Dormant Securities, Chinese wall at Merrill Lynch, did Merrill prop up the ARS market, FINRA and SEC ARS, FINRA arbitration Merrill Lynch ARS Maui, Frances Constable Merrill Lynch e-mail, Goodson Anderson Quinn & Stifel, legal process known as discovery, Maui County auction-rate case, Maui County Council Policy Committee, Maui News, Maui vs Merrill Lynch, Merrill Lynch sales of auction-rate securities, NASAA, no more 2k dinners at Cru, pre-trial litigation process, pursuing the truth, pursuit of the truth, SLARS Hawaii, what is discovery, when did ARS market begin to collapse, who is Joachim Cox, who is Riki Hokama
Posted in ARPS, ARS, Auction Rate Securities scandal, General | 1 Comment »
Posted by Larry Doyle on August 1st, 2011 7:40 AM |
What now? What lies ahead on the challenging and winding road filled with clouds and great unknowns that defines our American economic landscape?
The political circus in Washington has clearly taken center stage over the last few weeks. Watching this show has been anything but entertaining and don’t think the theatrics do not harm our economy. They do.
Uncertainty breeds risk aversion and our economy needs people and businesses willing to take risks.
Can we assume that the passage of a bipartisan debt package means we can get back to business as usual and that the economy will rebound? Not so fast. (more…)
Tags: America needs term limits, Barclays revisions to GDP forecasts, cooking the books, details of debt deal, fixing politics, future of economy August 2011, GDP revisions, give us term limits, impact of credit rating downgrade, impact of quantitative easing, increase in debt ceiling, meaningful deficit reduction, means testing for entitlement programs, monetization of our debt, monetize the debt, need for campaign finance reform, political circus in Washington August 2011, public service was not meant to be a career, reforming our tax code, Terry Belton of JP Morgan, walking pneumonia economy, what does debt deal mean for our economy, what is ahead on our economic landscape, what lies ahead for our economy August 2011, will credit rating sagencies downgrade our debt, will debt deal help economy, will debt deal help nation, will we have a QE3 August 2011
Posted in General | 8 Comments »
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