Friday, February 22, 2013

End of week news

Got up late, was busy at work all day, and due to the germ-infested nature of the lowlives I work with I now have a nasty cold coming on.

What's worse, I was almost out of vodka and have used up all my Jagermeister, so I had to restock.

Not that you lot are deserving of any apology. Fuck you, I got my own life to live. Offer to pay me to write this blog for fuck's sake.

Anyway, here's the news:

JC Parets - consensus is a shallow pullback. And that concerns him, because he thinks the market will dod something contrary to everyone's expectation.

Bonddad - is a bigger selloff in the cards? Dude, sounds to me like the consensus among the blogger crowd is a bunch of piss-stained worrying.

Calculated Risk - mortgage delinquencies still going down. Oh and also, conventional home sales up sharply. It's a long deleveraging, but progress is constant. Don't believe the doomers.

Calculated Risk - a brief comment on lumber prices. Apparently some clown with a blog at ibankcoin is scared of the lumber chart. Bill McBride shows the longer-term chart looks fine, and also notes you might expect little bursts of new supply to come back online as long-shuttered sawmills restart.

Bloomberg - China's leading index rises at a faster pace. As far as I'm concerned, the only thing I'm worried about in China is a banking collapse; the only think I'm looking forward to is a return to China hopes generating commodity inflation.

WSJ China Realtime - on productivity overcoming demographics. Some decent points made on how we needn't so much worry about China's demographic rollover - there are other places China can improve productivity to keep their GDP growth up. And I'm sure the Chinese ruling officials know all of this - after all, they want to stay in power.

Beyond Brics - China house prices up, stocks down. Bill Bishop notes that there will definitely be some real estate crashes in China, but mostly in C- and D-list cities. China's fragmented, not at all a uniform economy - exactly like how IKN paints Peru, but larger. Still, if the Chinese government does put muscle against recent real estate appreciation, where will the corrupt cadres decide to put their savings? Maybe some sort of easily-portable metal with no paper trail? Hm?

Bonddad - Europe's growth problems continue. If the only good news is the projections, then what if we see the projections fail? Maybe we're just supposed to wait for Merkel, to see if she'd rather commit political suicide than stimulate the European economy. - the great mining CEO purge. "Purge", you say? Ah, if only we could be like the Soviets, and march them out to a nice camp in the Chukchi Okrug for ten years of hard labour in minus-70 temperatures.

Jojo - the time to buy is now!!!!1! Well, if you're going to believe the charts, then the charts are good; $HUI at long-term trendline support, gold and silver at 2-year support, lowest public opinion on gold in 10 years, and Rydex PM fund suffering a 50% drawdown. Either the market is right and gold is done for, or the market is near a bottom. - Some guy from Commerzbank says gold should go back up to $2000. At least he's not some dumbass on ZeroHedge. And, as the ditz interviewer says, "why should people put money into gold when there are so many better places" - ah-ha! Is that a clue as to what made gold go down?

Talking Biznews - CNBC buys Nightly Business Report. They're getting rid of that new kid, Tom something; but I really wish they could bring back Paul Kangas:

He always made the show enjoyable.

1 comment:

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