by L. Randall Wray Dean Baker, everyone’s favorite progressive economist (mine, too), has an interesting take on our unemployment problem. Give more paid vacations. The idea is that if all the employed work less, employers will need to hire the unemployed to produce what the already employed won’t be producing while sunning themselves on Florida’s beaches….
Big Pharma has followed the only avenue left to reap billion-dollar profits: jack up the price of generics. What happens when rapacious cartels run out of billion-dollar-profit products? They jack up the price of what was previously low-cost. And why are they able to raise prices by 388% to 8,000% at will? Because they can. That’s the whole…
Reasons or Excuses? The reasons for the Fed not raising rates keep getting more bizarre and outside the scope of what used to constitute the Fed`s purview. First it was the financial crisis, then it was GDP growth not being up to par, then it was inflation not being robust enough, then it was…
Photo Credit: Tech In Asia – Alexander Rusli (center left), CEO of Indosat Indonesian telco company Indosat, in collaboration with Qatar National Bank (QNB), launched a mobile money ATM card this week, CNN Indonesia reports. The card is integrated with Indosat’s ewallet feature Dompetku, which now claims to be the first mobile money provider in Indonesia with a parallel ATM…
Cheniere Energy, Inc. (LNG – Snapshot Report) plans to raise $11.5 billion in debt for its Corpus Christi export facility and has engaged 18 financial institutions for the same. Following the announcement, shares of Cheniere gained around 1.5% on the NYSE. The company plans to use the funds for development of its Corpus Christi Liquefaction Project in Texas….
China faces epic unintended consequences in its efforts to ‘manage’ everything. As Bloomberg rhetorically asks, what if a central bank cut interest rates and borrowing costs rose? Well that didn’t work out as expected, eh? The reason is simple – the leveraged-speculative surge into Chinese stocks triggered by the “easy” rate-cuts sparked a major rotation from bonds into…
DOW -99.99 = 17,180 SPX – 12 = 1989 NAS – 48 = 4605 10 YR YLD + .01 = 2.11% OIL – 2.53 = 55.28 GOLD – 28.30 = 1194.50 SILV – .85 = 16.29 The S&P 500 index traded below its 50 day moving average for the first time since the end of…
T2108 Status: 29.7%T2107 Status: 39.6%VIX Status: 20.4 (actually DROPPED 3.1%)General (Short-term) Trading Call: Fresh buys only on close above 50DMA or oversold conditionsActive T2108 periods: Day #40 over 20%, Day #38 over 30%, Day #2 under 40% (underperiod), Day #4 under 50%, Day #8 under 60%, Day #110 under 70% Reference Charts (click for view of…
The Chart of the Day belongs to Spansion (NYSE:CODE). I found the semiconductor company when I sorted the All Time High list for the stocks with the most frequent new highs then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 10/31 the stock shot up 55.49%. Spansion Inc., headquartered in Sunnyvale, California, is…
Shares of Opko Health (OPK) gained 8% today after the company announced that it had formulated a partnership agreement with Pfizer (PFE) for developing and testing a drug to be used against Growth Hormone Deficiency — GHD. Opko will receive an upfront payment of $295 million and potential milestone payments of $275 million as the…
