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Goldman Sachs expects commodity spike next year to mimic 2008 when oil rose to 150 dollars a barrel NEXT YEAR.
Comments that most bad news was now out and that future results would improve had heartened investors, said analysts
It means the consumer is down-for-the-count. His credit lines have been cut, his home equity eviscerated, and his checking account swimming in red ink. That spells trouble for an economy that’s 70% dependent on consumer spending for growth….which brings us to another interesting point. The uptick in GDP last quarter was almost entirely the result of the surge in government spending; ie “fiscal and monetary stimulus”. How long can that go on? How long will China keep slurping up US Treasuries rather than let their currency rise? Here’s a clip from the Wall Street Journal on Friday:
Zero Hedge: “Most interesting is the correlation between Money Market totals and the listed stock value since the March lows: a $2.7 trillion move in equities was accompanied by a less than $400 billion reduction in Money Market accounts!
Where, may we ask, did the balance of $2.3 trillion in purchasing power come from? Why the Federal Reserve of course, which directly and indirectly subsidized U.S. banks (and foreign ones through liquidity swaps) for roughly that amount. Apparently these banks promptly went on a buying spree to raise the all important equity market, so that the U.S. consumer who net equity was almost negative on March 31, could have some semblance of confidence back and would go ahead and max out his credit card. Alas, as one can see in the money multiplier and velocity of money metrics, U.S. consumers couldn’t care less about leveraging themselves any more.”
Every dollar that goes to Exxon is a dollar that won't get spent
Originally posted by fromunclexcommunicate
US HOT STOCKS: Chiquita, CBS, Crox Active In Late Trading
Chiquita's second-quarter earnings rose 46% as the food company's cost-cutting efforts offset a small drop in revenue. Shares soared 21% to $22.71 in after-hours trading as results easily topped Wall Street estimates.