Wednesday, July 24, 2013

SAR #13205

We've traded wisdom for information.

Tidal Flows: BofA says that its big institutional clients have been net sellers of stocks all year, and over the last month they have abandoned stocks at record rates. Retail investors, on the other hand, keep throwing their money away.

Off The High Board: The Richmond Fed's data dump was less than stellar, way less. The retail sales index was down, a - 11 against an expected +7. The manufacturing index also was down, also a -11 against an expected +9. The months ahead will be better, they said. The best is yet to come... Well, maybe not, new orders also crashed.

Margin Of Error: The government claims drones permit surgical precision in targeting our enemies. Apparently a 20% oops rate is acceptable, including over 10% of the surgically dead being children. That's why the Air Force puts a souvenir US flag in every drone missile. Kids collect them.

Asked And Answered: Should Goldman, JPMorgan and the rest be permitted to control power plants, oil refineries and warehouses full of commodities from aluminum to zinc? Permitted?

Nostalgia: Remember when the US housing industry hinged on first-time buyers, young marrieds? That was before marriage was a merger of student debtors, when wages actually rose for the middle class. That's okay, someone has to rent all those REO houses speculators have scooped up.

Being Prepared: The SEC is warning the $2.6 trillion money market industry to be aware of the immense risks they face if the tri-party repo market were to collapse. Nah, nothing happening here, it was just a slow day at the office.

Thought Experiment: "To land the best... jobs, workers need sophisticated vocabularies, advanced problem-solving abilities and other high-value skills that the U.S. economy does a good job of bestowing on young people from wealthy families — but can’t seem to deliver to poor and middle-class kids." Why could that be? 
Something's Happening There: According to Tokyo Electric, proud parents of the Fukushima reactors, “something like steam” is billowing out of the number three reactor. “Something like steam,” take a guess how radioactive 'something' might be.

Porn O'Graph: It's not a recovery, it's a camel.

The Parting Shot:
 Passion flower, Passiflora incarnata

1 comment:

TulsaTime said...

Your thought experiment left out a couple of things, but mostly was rooted in the 60's, when actual high value jobs existed. Since the 80's, those jobs are sent out of country, leaving everyone to either enter sales or service, lands of no morals or no money.