Thursday, November 21, 2013

SAR #13325

The thing about cycles - they're cyclical. 

Fletcherizing: McDonald's is now telling their minimum-wage slaves that if they cut their food into tiny portions and eat really, really slowly, they'll feel full – even if they're not. They also advise the staff to quit complaining – for their own good – because its stressful to bitch about things that are stressful. Instead the disgruntled should go to church, or sing away stress with the company song. And if they're strapped for cash they could look for a second job or sell some of their stuff on e-Bay.

Safety First: Police officers in Tullytown, PA, "fearing for his safety" were forced to Taser a 14 year-old shoplifter in the face as he attempted to flee from them with his hands handcuffed behind his back.

Quotes: "80% of the population could stop doing what they do tomorrow and all the food would still get produced, and all of the goods would still get produced. About 60% of the population does nothing but shuffle numbers at this point. What they're doing is keeping track of who owns what, right? The actual productive labor in the economy is remarkably little." And: "We have witnessed the creation of an endless variety of new jobs and industries since the ‘20s, but very few have anything to do with the production and distribution of sushi, iPhones, or fancy sneakers".

Cream: JPMorgan now, finally admits that it "regularly" and knowingly misrepresented RMBS to investors, and that such fraudulent activities "contributed to the financial crisis." The Justice Department is happy and Jamie Dimon is still a free man.

Rotten To The Core: Latest CPI numbers fell to -0.1% m/m and rose but 1.0% y/y. Core CPI (minus food and energy) was 1.7% m/m and 1.0% y/y. from 1.2%. Looking forward, at the end of the year CPI is expected to set a four-year annual low. Existing home sales are also projected to decline. Retail sales were a bright spot with October sales up 0.4%, but almost all of this was driven by car sales to less than fully qualified borrowers.

Porn O'Graph: And the losers are...

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