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  • The Daily View: Black Friday/Cyber Monday, Stock Surging, Bush Tax Cuts, and Treasuries  [Edit or Delete]1 comment
    Nov 28, 2011 1:33 PM
    I still support congress and I'm still voting republican in 2012 election. We need more TSA screening to keep America safe, a free-er market, and less regulation- NOT wealth spreading, NOT deficit reduction. It's still our patriotic duty, as the American Consumer, to max out the credit card and quit complaining about the economy. Housing is still great where I live. No recession in my neighborhood. My personal economy still doing better than ever. Keep buying stocks, ppl. This is not the time to sell. 
    Another  v shaped economic sign: Facebook, Twitter, Google, and  Groupon traffic at record highs on Cyber Monday.

    And another: Oil tops $100 on stock surge, euro optimism

    CNBC alert: economy doing great
    Fox Business News: recession fears overblown
    In the days proceeding Black Friday weekend the usual libs on the blogs like Zerohedge, Business Insider, and Zerohedge were predicting abhorent sales numbers on the fictitious belief that the consumer is supposedly 'maxed out' or 'discouraged' due to unemployment or non-existent de-leveraging, but being that the liberals are always wrong and want to see the wealth spread and the economy fail, the exact opposite happened- Black Friday smashed records. To the leftist leaning gloomers everything is either a crisis or a bubble, and they wasted no time deconstructing these numbers and reassembling them to fit their world-is going-to-end, let's-soak-the-rich Marxist viewpoint. It's just a 'fluke' or due to 'heavy discounting' or consumers are behaving 'irrationally'. The same boo hoo hoo who is me excuses we read in 2010, 2009, etc.

    Record Breaking Black Friday Weekend

    A record 226 million shoppers visited stores and websites over Black Friday weekend, up from 212 million last year, according to the National RetailFederation. The average holiday shopper spent $398.62 this weekend, up from $365.34 last year.  Totalspending reached an estimated $52.4 billion. Shoppers also checked out retailers’ deals online, spending an average of $150.53 on the web – 37.8 percent of their total weekend spending.

    Unemployment, debt? Still not a big deal. Oh,  and let me add an LOL to that. This weekend Fox News was right about the economy being fundamentally sound as consumers keep maxing out the credit cards and the personal savings rate continues its trajectory into negative territory.
    NO recession on the internet (but don't tell the libs):
    Big Cyber Monday expected to follow strong Black Friday, Wal-Mart are big Black Friday winners among online retailers, says comScore
    Bailouts and intervention save the day, yet again. The DJIA is up 300 points on the prospect of a massive Italy bailout, in addition to strong Black Friday numbers. It's not job creation programs and social safety nets that this markets wants, rather the market is signaling to policy makers that we need more programs that benefit high income earners and the creative class such as increased defense spending, tax cuts for the rich, a free market, and occasional bailouts when things occasionally go wrong. 
    Krugman Calls for Higher Taxes Than Under Clinton
    By Noel Sheppard | November 28, 2011 | 00:42
    Change font size:  A |  A
    Nobel laureate Paul Krugman - might he finally be realizing that our budget deficits can't possibly be solved by just eliminating the Bush tax cuts? - is now calling for marginal rates even higher than when Bill Clinton was in office:
    Liberals like Krugman want to spread and destroy the wealth by curtailing spending and soaking the highest income earners. The deficit is NOT an important issue whatsoever. The bond market  is imploring policy makers to spend with impunity, but thankfully losers like Krugman, Rounini, and Shiller have no political clout and the 'do-nothing' congress will continue to perpetuate the market-friendly policies of low taxes, increased defense spending, free trade, and low regulation that prior administrations put in place. In addition to TARP, The Bush tax cuts is arguably the most successful piece of legislation passed in the past decade. Every attempt by the liberals to undo it has been fraught with unmitigated failure.

    This is why Bush was such an underrated president. He laid the framework for the economic boom we're currently in. We have quarter after quarter of blowout profits & earnings for S&P 500 companies, blowout  Black Friday sales, blowout Cyber Monday sales, oh and historically low treasury yields. It's a Goldilocks economy of strong growth and tame inflation. 

    Here is irrefutable proof that inflation is a non-threat. TLT is only down half a percent despite the major indices being up 3%.

    There is such insatiable demand for near zero yielding US paper due to robust economic fundamentals, that treasuries are either flat or only down a little as 'risk on' asset classes like stocks and commodities rally. I predict this trend will continue for years to come with all asset classes rising together, instead of the divergence of 'risk off' and 'risk on' assets that economists are accustomed to.

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  • By the way when are going to get bearish so that i can cover my shorts in amzn,aapl,bidu,pcln and nflx
    Made %25 on them since you doubled up on them .You are the best contrary indicator ever created.
    29 Nov 2011, 01:58 PM Reply Like
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