Solarbird (solarbird) wrote,
Solarbird
solarbird

  • Mood:

brace for impact

Overnight credit rate collateral rate last night. It's not a dislocation - it's back up to 2010 levels - but it's a substantial spike. CBS Marketwatch put out a BREAKING saying that the Federal Reserve had called in primary dealers for an emergency meeting at 9am; they came out of that a few minutes ago.

US dollar index fell about 1% this morning. It's bounced back a tiny bit.

Insiders are selling stock at extremely high level. NYSE and AMEX-listed stock sell:buy ratios combined are 13.10:1.

Revisions to previous GDP reports are massive. All from Marketwatch:
U.S. ECONOMY GREW 1.3% IN SECOND QUARTER VS 0.4% IN PRIOR QTR
*U.S. 2007-2009 RECESSION WORSE THAN ESTIMATED, REVISIONS SHOW
*U.S. 2Q CONSUMER SPENDING RISES 0.1%, WEAKEST SINCE RECESSION
U.S. SECOND-QUARTER EMPLOYMENT COST INDEX INCREASES 0.7%
*U.S. ECONOMY SHRANK 8.9% IN 4Q 2008 AFTER LEHMAN COLLAPSED
The best part is, corporate profits 2008-2010 were $343 billion higher than thought, but personal incomes were $265 billion lower:
Corporate profits now account for the largest share of gross domestic product since 1950 — 12.6%. Wages and salaries account for the smallest share of GDP since 1955 — 54.9%.
Fun times.
Tags: economics
Subscribe
  • Post a new comment

    Error

    Comments allowed for friends only

    Anonymous comments are disabled in this journal

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

  • 3 comments