Tuesday, September 25, 2012

The devil in Case-Shiller housing details - Yahoo! Finance

The devil in Case-Shiller housing details - Yahoo! Finance
Some analysts say that the NAR report may present a too-rosy view of that market. Case-Shiller house prices are historically slightly more conservative than price data from the NAR, mostly because the report adjusts for the size of homes being sold, while the NAR’s price index does not. The result is that NAR’s numbers jump when homes at the high end of the market sell strongly, and larger and more expensive homes have lately been selling particularly well, says Jed Kolko, chief economist at real-estate listing site Trulia. “This is why the NAR median sales price has risen so much more than other indexes.”

Young U.S. Adults Flock to Parents’ Homes Amid Economy - Bloomberg

Young U.S. Adults Flock to Parents’ Homes Amid Economy - Bloomberg

Dow will repeat 2007-2008 peak-crash cycle - Paul B. Farrell - MarketWatch

Dow will repeat 2007-2008 peak-crash cycle - Paul B. Farrell - MarketWatch : 
You can never trust Wall Street bulls, they’re lying to you 93% of the time.

March 1999: Harry S. Dent, author of “The Roaring 2000s.” “There has been a paradigm shift.” The New Economy arrived, this time really is different.
October 1999: James Glassman, author, “Dow 36,000.” “What is dangerous is for Americans not to be in the market. We’re going to reach a point where stocks are correctly priced … it’s not a bubble ... The stock market is undervalued.”
August 1999: Charles Kadlec, author, “Dow 100,000.” “The DJIA will reach 100,000 in 2020 after “two decades of above-average economic growth with price stability.”
December 1999: Joseph Battipaglia, market analyst. “Some fear a burst Internet bubble, but our analysis shows that Internet companies ... carry expected long-term growth rates twice other rapidly growing segments within tech.”
December 1999: Larry Wachtel, Prudential. “Most of these stocks are reasonably priced. There’s no reason for them to correct violently in the year 2000.” Nasdaq lost over 50%.
December 1999: Ralph Acampora, Prudential Securities. “I’m not saying this is a straight line up. ... I’m saying any kind of declines, buy them!”
February 2000: Larry Kudlow, CNBC host. “This correction will run its course until the middle of the year. Then things will pick up again, because not even Greenspan can stop the Internet economy.” He’s still hosting his own cable show.
April 2000: Myron Kandel, CNN. “The bottom line is in, before the end of the year, the Nasdaq and Dow will be at new record highs.”
September 2000: Jim Cramer, host of “Mad Money.” Sun Microsystems “has the best near-term outlook of any company I know.” It fell from $60 to below $3 in two years.
November 2000: Louis Rukeyser on CNN. “Over the next year or two the market will be higher, and I know over the next five to 10 years it will be higher.”
December 2000: Jeffrey Applegate, Lehman strategist. “The bulk of the correction is behind us, so now is the time to be offensive, not defensive.” Another sucker’s rally.
December 2000: Alan Greenspan. “The three- to five-year earnings projections of more than a thousand analysts ... have generally held firm. Such expectations, should they persist, bode well for continued capital deepening and sustained growth.”
January 2001: Suze Orman, financial guru. “The QQQ, they’re a buy. They may go down, but if you dollar-cost average, where you put money every single month into them, I think, in the long run, it’s the way to play the Nasdaq.” The QQQ fell 60% further.
March 2001: Maria Bartiromo, CNBC anchor. “The individual out there is actually not throwing money at things that they do not understand, and is actually using the news and using the information out there to make smart decisions.”
April 2001: Abby Joseph Cohen, Goldman Sachs. “The time to be nervous was a year ago. The S&P was overvalued, it’s now undervalued.” Markets fell 18 more months.
August 2001: Lou Dobbs, CNN. “Let me make it very clear. I’m a bull, on the market, on the economy. And let me repeat, I am a bull.”
June 2002: Larry Kudlow, CNBC host. “The shock therapy of a decisive war will elevate the stock market by a couple thousand points.” He also predicted the Dow would hit 35,000 by 2010.
The Dow didn’t bottom until October 2002 at 7,286, down from 11,722. The Iraq War started in April 2003. Soon after, Enron, Spitzer and Sarbanes-Oxley were distracting us from all the insanity of the 2000 crash, the bear market and the 2000-2002 recession. 

Home prices climb for fourth month in row - Economic Report - MarketWatch

Home prices climb for fourth month in row - Economic Report - MarketWatch

Thursday, May 10, 2012

How Hewlett-Packard lost its way - Fortune - A glimpse at the Boardroom/Executive suite shenanigans. Do these guys ever think about the lives of the thousands of the employees they play with?

Thursday, May 03, 2012

Why US house prices won't recover : Taking inflation into account , home prices are down to 1895 levels - http://www.marketwatch.com/story/why-us-house-prices-wont-recover-2012-05-01-1225310

Monday, April 30, 2012

Home ownership rate drops to 15-year low :
http://www.reuters.com/article/2012/04/30/us-usa-economy-housing-idUSBRE83G0T120120430
"Credit might get easy for creditworthy borrowers, but you are not going to see the same drive to bring in the broader demographic into home ownership you had in the early 1990s and 2000s. Renters are going to be renters, they will not become buyers,"
 

Saturday, April 28, 2012

"My job was to corrupt high officials in countries and get them to accept huge loans to sign off on them to make a lot of money." - John Perkins - CNBC - Corporate America and Bribery - http://video.cnbc.com/gallery/?video=3000085781
 

Sunday, April 22, 2012

Wells Fargo Insiders Detail Foreclosure Fraud Practices: ‘It’s Exactly Like An Assembly Line’ - http://ow.ly/arsCM
Half of new graduates are jobless or underemployed - http://ow.ly/arsmK

Wednesday, April 04, 2012

The problem with Home Prices - Big Picture - http://www.ritholtz.com/blog/2012/04/the-problem-with-home-prices-part-3-or-5/

The Case for Remaining a Renter - SmartMoney -

http://blogs.smartmoney.com/advice/2012/04/04/the-case-for-remaining-a-renter/

Tuesday, March 27, 2012

Shiller: Housing Has “Chance” to Bottom But Suburban Prices May Not Recover “In Our Lifetime” ow.ly/9UOjO

Thursday, February 23, 2012

Million-dollar foreclosures rise as rich walk away
Over 36,000 homes valued at $1 million or more were foreclosed on -- or at least served with a notice of default -- in 2011, according to data compiled by RealtyTrac, which tracks foreclosures. While that's less than 2% of all foreclosures nationwide, it represents a much bigger share of foreclosure activity than in previous years.

Tuesday, September 13, 2011

Poverty hits 50-year high, U.S says - latimes.com: Census Bureau's grim statistics show recession's lingering effects, as young adults move back home and 1 million more Americans go without health insurance.

Wednesday, August 31, 2011

Thursday, August 25, 2011

Many seniors keep working-wsj
More than three in five U.S. workers in their 50s and 60s plan on working past 65 — and 47% of that group say they'll do so because they'll need the money or health benefits, according to a 2011 study from the nonprofit Transamerica Center for Retirement Studies.

Wednesday, August 24, 2011

Druckversion - Out of Control: The Destructive Power of the Financial Markets - SPIEGEL ONLINE - News - International
Speculators are betting against the euro, banks are taking incalculable risks and the markets are in turmoil. Three years after the Lehman Brothers bankruptcy, the financial industry has become a threat to the global economy again. Governments missed the chance to regulate the industry, and another crash is just a matter of time.
Home Prices Decline 5.9% in Second Quarter - Bloomberg

Thursday, August 18, 2011

Is the SEC Covering Up Wall Street Crimes? | Rolling Stone Politics: A whistle-blower claims that over the past two decades, the agency has destroyed records of thousands of investigations, whitewashing the files of some of the nation's worst financial criminals.

Monday, August 15, 2011

Stefan Stern: Marx was right about change - Commentators, Opinion - The Independent

Stefan Stern: Marx was right about change - Commentators, Opinion - The Independent
...

Even now, most global financial institutions and political leaders are advocating wholly orthodox approaches to managing budget deficits and currency volatility, even as their efforts are revealed as being more or less futile, or worse. The truth is perhaps too scary for some to contemplate. Either that, or the temporary winners of the current system are simply filling their boots with as much as they can before the next, potentially even bigger crash.

Those who regard the recent actions of rioters in English cities as "criminality pure and simple" will not see any connection between Roubini's declaration that "Marx was right" and the decision to steal a 42-inch TV from a burning electricals store. But, for some, looting may have seemed a sensible (if illegal) response to the apparently continuous turmoil of the economy. If everything about your financial future seems at best uncertain and at worst desperate, why not carpe diem, or carpe television at any rate? Rational economic man (and woman) has finally been sighted, legging it down Tottenham High Street in a new pair of trainers.

...


Tuesday, June 21, 2011

Why IT Workers Should Unionize - Llewellyn Hinkes-Jones - Technology - The Atlantic

Why IT Workers Should Unionize - The Atlantic
There is power in a union for the information technology industry, one of The Atlantic's own developers argues, even though programmers often resist collective organizing.

Friday, June 17, 2011

Saudi Women Driving Cars with Relative Impunity - Global - The Atlantic Wire

Saudi Women Driving Cars with Relative Impunity - The Atlantic Wire

Guest Post: Corporate America Really Really Cares About Its Employees (Really) - A Distributed Rant | zero hedge

Corporate America Really Really Cares About Its Employees (Really) - A Distributed Rant | zero hedge: "In a recent blog post on the Harvard Business Review web site – and praise be to them for publishing it – Haque let rip on some of the absurdities of contemporary business and economic life. “Just ask yourself,” he wrote, “if you were to walk into any corporation, would you find faces brimming over with deep fulfillment and authentic delight – or stonily asking themselves, ‘If it wasn’t for the accursed paycheck, would I really imprison myself in this dungeon of the human soul?’”"

Thursday, June 09, 2011

UPDATE 1-US economy at tipping point,double-dip risk-Shiller | Reuters

US economy at tipping point,double-dip risk-Shiller | Reuters:
"'My gut feeling is we might see a continuation of the decline' in home prices, Shiller said earlier on Thursday at a Standard & Poor's housing summit. He added that a 10 percent to 25 percent slump in real home prices 'wouldn't surprise me at all,' though he cautioned that was not a forecast."

Tuesday, June 07, 2011

More Homeowners With Second Mortgages Are Underwater - WSJ.com

More Homeowners With Second Mortgages Are Underwater - WSJ.com: "Almost 40% of homeowners who took out second mortgages—extracting cash from their residences to cover everything from vacations to medical bills—are underwater on their loans"

Friday, May 20, 2011

A Defiant 'Spanish Revolution' - Alan Taylor - In Focus - The Atlantic

A Defiant 'Spanish Revolution' - The Atlantic
Ever since Sunday, May 15th, residents from many cities around Spain have been demonstrating against the country's ongoing financial crisis, its politicians, and its bankers. The spontaneous protests are the largest since the country plunged into recession in 2008, and they're made up mainly of young people who have set up camps in main squares across the country. Called "los indignados" (the indignant), the May 15 Movement, or simply 15-M, they are fueled by frustration with austerity measures, apparent indifference from politicians, and serious joblessness...

Fund My Mutual Fund: NYT: Nearly 50% of 2009 College Graduates are Either Jobless, or Working in Jobs That Don't Require a College Degree

Nearly 50% of 2009 College Graduates are Either Jobless, or Working in Jobs That Don't Require a College Degree

Thursday, March 17, 2011

"Jeffrey Sachs: "The American People Are Going to Reach a Breaking Point""

http://finance.yahoo.com/tech-ticker/article/536035/Jeffrey-Sachs%3A-%22The-American-People-Are-Going-to-Reach-a-Breaking-Point%22

 http://snipurl.com/27lgmv

Friday, November 26, 2010

Wednesday, October 20, 2010

Guest Post: iDepression 2.0 | zero hedge

Guest Post: iDepression 2.0 | zero hedge: "The key disturbing facts are as follows:

* Goods producing jobs as a percentage of all jobs have declined from 31.2% in 1970 to 13.8% today.
* Lawyers, accountants, financial advisors and other paper pushing professions made up 12.4% of jobs in 1970 versus 18.7% of all jobs today.
* Obese Americans love to go out to restaurants and be served. Hospitality employees now make up 10.1% of the workforce versus 6.7% in 1970.
* Obese, vain, stupid Americans have also benefitted the Health Services and Education industries as the number of nurses, proctologists, teachers, school administrators and Beverly Hills TV surgeons has surged from 6.4% of the workforce to 15.1%. You’d think we would be healthier and smarter with these figures. We’re not."

Occidental Petroleum CEO Ray Irani is the poster child for extravagant executive pay - latimes.com

Occidental Petroleum CEO Ray Irani is the poster child for extravagant executive pay - latimes.com: "The executives have been given seven years to hit a target they're on track to reach in 2 1/2 years."

Tuesday, August 10, 2010

Poor Mark Hurd: HP severance includes $12.2 million cash, $16 million in stock - BusinessWeek

Poor Mark Hurd: HP severance includes $12.2 million cash, $16 million in stock.
But looks like HP employees are not "saddened" by Hurd's departure from this WSJ deal journal blog. Apparently some "had an office party this Monday at HP HQ’’.

Thursday, December 10, 2009

Tuesday, December 01, 2009

Worse than Enron? - Big banks' accounting shenanigans.

I always wondered how it looks if someone posted the performace of "best stocks for 10 years" after 10 years. Now I know the answer.

Thursday, November 19, 2009

Friday, November 13, 2009

Thursday, May 07, 2009

I should re-read this article about management myth/science every time I think that I should have taken up management route. To sum up: just as most people are able to lead fulfilling lives without consulting Deepak Chopra, most managers can probably spare themselves an education in management theory.

Saturday, March 14, 2009

Thursday, November 06, 2008

Here is a beautiful quote I heard yesterday:
"Rosa sat so Martin could walk, Martin walked so Obama could run, Obama ran so our children could fly!".
Apparently, it is from rapper Jay-Z. Here is a link (http://morrisvideos.com/watch_video.php?v=40469f25fad6b4e) where it was said on Oct 5h concert in New York city (at around 1min 53sec)

Friday, April 18, 2008

Iceland, a Tiny Dynamo, Loses Steam - Hedge funds at fault ? Makes you wonder who is running the world.
Wish this were true for Bay Area .. maybe the wish might come true in due course of time -
California home prices fall 26 percent amid foreclosures

Friday, April 13, 2007

Saturday, October 28, 2006

M.B.A.s are the Biggest Cheaters - Graduate business students take their cue from corporate scandals

Friday, July 21, 2006

Finally, The chief economist of the California Assn. of Realtors has stopped using the term "soft landing" to describe the state's real estate market, saying she no longer feels comfortable with that mild label!

Housing Expert: 'Soft Landing' Off Mark !

Saturday, June 25, 2005

The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops - Economist

Monday, June 06, 2005

Questions remain over Itaniums potential. Michael Dell said - "If I talked for three hours about what's important to our business I don't think I'd ever mention Itanium".

Friday, May 27, 2005

Of all the magazines, Forbes talks about The Golden Parachutes of CEOs !

Tuesday, April 12, 2005

Tuesday, February 08, 2005

While on the topic of salary hikes, Indians took home heftiest hikes in 2004
The average salary of technology workers in the United States last year slipped to $67,800 from $69,600, a 2.6% decline according to this IT Salary Survey by dice.com

Monday, December 13, 2004

Thursday, November 25, 2004

Tuesday, November 02, 2004

Despite all the noise about 2000 election issues, 2004 is still An Election Spoiled Rotten

Thursday, October 21, 2004

American consumers and Chinese producers have led a global boom. China is creating genuine wealth, but America's binge is based partly on an illusion, according to this Economist article

Wednesday, October 20, 2004

CEO pay packages swelled across a wide array of U.S. industries in 2003 despite shrinking salaries for many workers, a report showed. Pay disparity up for CEOs and workers

Sunday, October 03, 2004

Just when the news looks hopeless and gets bleaker and bleaker, The Optimism of Uncertainty by Howard Zinn gives a glimmer of hope.

Tuesday, April 13, 2004

Why Housing Is About to Go "Pop!" from BW online and couple of links to CEPR on housing bubble debate.

Wednesday, March 24, 2004

New details about the tactics Microsoft used to secure a dominant position in software markets for nearly two decades.
Newly Released Documents Shed Light on Microsoft Tactics

Tuesday, March 09, 2004

U.S. housing boom poised for a bust : Whether later this year or next, the real worry is will it just pop or slowly deflate?

Monday, March 08, 2004

This article from the Wall Street Journal questions whether Microsoft really innovates enough to justify the enormous amount of money (nearly 10% of the cost of every PC!) it takes from consumers each year. Hard drive and chip makers innovate constantly, but what about Microsoft?

Tuesday, December 30, 2003

Monday, September 22, 2003

Long pause in whatever little blogging I do, because of NSJ4.

Robert Shiller's research shows still there is irrational exuberance in US real estate market.

Thursday, May 15, 2003

Monday, April 14, 2003

Friday, April 04, 2003

In a survey of global economic dangers, the International Monetary Fund warned on Thursday that the U.S. housing market, after two years of record sales over and strong increases in home prices, could be headed for a fall.
According to this USAToday story, bubble hasn't burst yet on CEO salaries despite the times

Tuesday, March 18, 2003

Who supports war ? Not many people around the world, according to the surveys.

Thursday, March 13, 2003

According to this Economist article, housing markets in several countries are looking decidedly bubbly .

Tuesday, March 04, 2003

Jim Rogers talks about the downward spiral of US Dollar and why it could lose its status as world reserve currency.

Friday, February 28, 2003


While thousands of HP employees were laid off and its earnings plunged into red for the year 2002, its ex-president Michael Capellas walked away with cool $26 million.

Thursday, February 27, 2003

Despite the recent round of corporate scandals, US companies are continuing to promise their chief executives hefty severance payments and benefits.

Monday, February 17, 2003