Google-mania!
July 31, 2007
What is it that Google isn’t doing, hasn’t thought about, or isn’t working on? One has to give that some thought now doesn’t one? Well, how about the cell phone industry? I mean, look how much money the iPhone is raking in! Opening weekend sales of iPhones may have reached 500,000, according to an analyst’s estimate, as Apple’s much anticipated product saw sales that lived up to and even exceeded its hype. Piper Jaffray’s, Gene Munster released a report Sunday night estimating that the iPhone sales would reach that mark easily. Continue Reading »
Proving Fiscally Responsible
July 30, 2007
For the third time in six weeks, New York City’s bond rating has been upgraded by an independent rating agency. We have managed the City’s finances prudently with a focus on making long-term investments to ensure the City’s bright future. As a result, New York is stronger than ever, and Wall Street has once again recognized our success. Sounds like he’d make a good president too! Continue Reading »
Send In The Excuse Makers
July 30, 2007
With the stock market taking one heck of a hit last week, you can count on hearing lots of rhetoric on how well things really are. In fact it has already begun; however, you can’t have a lot of that over the weekend because news gets lost. As an example, U.S. Treasury Secretary Henry Paulson said the meltdown in the subprime mortgage market reflects a reassessment of risk that doesn’t pose a threat to the economy. “I don’t think it poses any threat to the overall economy,” Paulson, a former chief executive officer of Goldman Sachs Group Inc., said in an interview today in Washington. “Risk is being repriced. As we get a broad reassessment of risk, we are getting volatility.” <--more-->
Richard Russell believes that the subprime lending fiasco will bleeed over into everything else as he said, “And the song they’re all singing is that “the subprime mess won’t rub off on the rest of the economy.” Great, hope they’re all correct — but I’m much more interested in the market’s appraisal than that of the “chief executives.”
Rob Sellar, head of North American equities in the Philadelphia office of Aberdeen Asset Management, called this week’s rout in U.S. stocks a “necessary sell-off.”
There are no major economic releases expected Monday, but Tuesday will be busy with new data on personal income, employment costs, the National Association of Purchasing Management-Chicago index, construction spending and consumer spending all on tap.
Wednesday has a report from the Institute for Supply Management on the manufacturing side of the economy, as well as data on pending home sales and reports by manufacturers on car and truck sales in July.
The ISM has a report on the services sector on Friday
So, in spite of what the movers and shakers may think, the “facts” will drive the market a lot next week.
Go The Extra Mile
July 29, 2007
How far do we Americans walk with a brother? The general answer is not very far. The specific answer is until we are inconvenienced. One of the things that prosperity has brought us and unexpectedly so is an intolerance for many things. Proof of the pudding can be seen in the divorce rate and the reasons for a divorce. You can get divorced today just because you want to! It’s not the fault of anyone! We are quick to jump into many things and just as quick to jump out of them. The hi-tech world has created some of that. Continue Reading »
A Nasty Week Indeed- For Wall Street
July 27, 2007
Tuesday was bad with the Dow off 226 points. Triple digit losses knock a lot of people out of the market or send then running to leverage a way to stay in. But, Thursday was even worse, falling 312 points. Look at it this way though. At one point the Dow was down 400+ points. Is that enough silver lining? I didn’t think so. Anytime the market drops over 500 points in 2-3 days, it’s hurtsville for everyone. Whoa, wait a minute. The brokers always make money. They get theirs going IN and they smile as you go OUT. This is even better than being a lawyer. At least they have to spend some time and show you “billable hours” for the money they take: winning the case or losing it- they get paid! Continue Reading »
Scandal de Jour!
July 26, 2007
Eighteen year old kids making ten million a year isn’t a good way to raise up an adult. It’s bed enough when the person is twenty eight years old and making twenty eight million a year. I’m talking SPORTS! Our egos are poured into the egos of other people and we can then watch them crash and burn without any harm to us, unless we attend one of the man y sport offerings and have to pay the price of the tickets to support their HUGE EGOS! Where have you gone, Joe DiMaggio? Your place has been taken by thugs and crooks and cheats. Continue Reading »
America- Not New York City?
July 26, 2007
The handwriting is on the proverbial wall. It seems as though Mike is saying something about “America” and yet he is the mayor of New York City. Do you think I’m reading the tea leaves wrongly here? As you look back over my previous post, a main theme is that I believe Bloomberg will run for for President in 2008 on an Independent Party ticket. I wonder what that party will call itself? Continue Reading »
America- Not New York City?
July 26, 2007
The handwriting is on the proverbial wall. It seems as though Mike is saying something about “America” and yet he is the mayor of New York City. Do you think I’m reading the tea leaves wrongly here? As you look back over my previous post, a main theme is that I believe Bloomberg will run for for President in 2008 on an Independent Party ticket. I wonder what that party will call itself? Continue Reading »
Third Party Tremors?
July 25, 2007
Will he or won’t he? In the latest twist to Mayor Michael Bloomberg’s “I’m-not-running-for-president” campaign, team Bloomberg has fired up a new Web site titled “mike2008.com.” Is this just another tease or is the mayor finally telling voters that maybe, just maybe, he will be running for president after all? Continue Reading »
Who Is A Liberal?
July 24, 2007
The Democrats have had their latest debate- of sorts. And an interesting question that was asked of Hillary Clinton, the ever so careful candidate to answer any question that might offend a voter was asked is she was a LIBERAL! Of course yes or no answers are taboo. Here’s her answer.
“You know, it is a word that originally meant that you were for freedom, that you were for the freedom to achieve, that you were willing to stand against big power and on behalf of the individual. Unfortunately, in the last 30, 40 years, it has been turned up on its head and it’s been made to seem as though it is a word that describes big government, totally contrary to what its meaning was in the 19th and early 20th century.” And that was just the start of a long-winded answer that went on to say…….. Continue Reading »
Pat Buchanan
July 22, 2007
When one thinks of third party candidates in America, in the one-hand number of candidates that come to mind, Pat Buchanan is surely there. Patrick Joseph Buchanan (born Nov. 2, 1938) is an American politician, author, syndicated columnist, and broadcaster. He ran in the 2000 presidential election on the Reform Party ticket. He also sought the Republican presidential nomination in 1992 and 1996. He likes politics! Continue Reading »
Dog Days Of Summer?
July 22, 2007
I sure hope so!
Enough of the mid-80’s for the high of the day. Enough of the RAIN! Speaking of which, we already have more than eight inches of rain for July when the average rainfall for the entire month is a little more than two! That would be FOUR TIMES the average amount. And for the year, we are almost to what the annual average is for twelve months; at 12 inches over normal for July. So, yes, bring on the last of July and August with HOT, upper nineties please. –
What Market Manipulation?
July 20, 2007
The Dow has been trying to CLOSE above the 14,000 mark for weeks now. For two days it had crossed over it; however, it couldn’t close above it. Thursday afternoon the Dow closed UP 82.20 and guess what that meant! The Dow closed at 14,000.40. I assume you know that the BIG PLAYERS in the stock market can manipulate the Dow so that it will close however they want it to on most given days. There are days when the market is a train wreck and last minute deals can’t shove it one way or the other. Now that the psychological mark has been hit in spite of BAD economic NEWS what do you really think the market is going to do? Continue Reading »
Free Publicity
July 19, 2007
The mayor, who may want to be President, got some free press yesterday, but not the kind you really like. One person was killed and as many as 30 others were injured — four seriously — after a steam pipe exploded on the East Side of Manhattan during the evening rush hour. The blast caused brief panic about another terror attack, with a scene eerily reminiscent of Sept. 11: people frantically rushing away from a Manhattan explosion amid falling debris and blaring sirens. But officials quickly ruled out terrorism and said the blast was caused by a ruptured 83-year-old steam pipe. Continue Reading »
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