The Mess That Greenspan Made - Part 9

Hopeful at Barron’s

There’s a clear sense of “let’s just get this correction over with” at Barron’s over the weekend in Big Money Poll: The Bull Will Be Right Back ($) where the graphic below appeared.

We’ll see if Mr. Market cooperates. So far this morning, Mr. Market seems grumpy.

Friday Morning Links

Wall St. Might Know Something We Don’t – NY Times
Greek drama: Bond yields near 9% threshold – CNBC
Bullard Challenges Fed to Respond to Weakening Inflation – Businessweek
ECB to start asset purchases within days: Coeure – MarketWatch
BOE chief economist says rates to stay low until after mid-2015 – Fox Business
BOJ bill-buy offer fails to attract sellers, shows limits of easing strategy – Reuters
Four Reasons the Bernanke-Yellen Asset-Price Inflation May Be Nearing Its End – Mises
3 Central Texas schools cancel classes over Ebola concerns – KHOU
How the World’s Top Health Body Allowed Ebola to Spiral Out of Contro – Bloomberg
CDC: You Can Give—But Can’t Get—Ebola on a Bus – CNS News
Islamic State training pilots to fly in three jets: Syria monitor – Reuters
26 arrested for protesting outside Walmart billionaire’s New York home – CNN
Baby Boomers are overexposed to stocks in this rocky market – CNN/Money
Either you’re the butcher or you’re the cattle – Burning Platform

Stock markets rebound after global gyrations – AP
The stock market, inevitably, is going to crash – MarketWatch
Some Thoughts about the Dollar’s Technical Outlook Now – Marc to Market
Why The Russell 2000 Has Shaken Off The Market Rout and is Rising – Zero Hedge
Momentum Driven Market Works Really Painfully on the Way Down – Wolf Street
Treasuries Pare Weekly Gain as Housing Starts Exceed Forecast – Bloomberg
Gold set to post weekly gain on uncertain US rate outlook – Reuters
Gold price upside limited in 2015 – Scotiabank – Mineweb
Silver Miner Suspends Sales: 35% Of Production Due To Low Prices – SRSrocco Report
Another Reminder Gold Is Not Often As It Seems – Alhambra Partners
“Save Our Swiss Gold ” – Game Changer For Gold? – GoldCore

Over 48 million Americans live in poverty – CNN/Money
Obama’s Top Economist Questions Thomas Piketty’s Inequality Claims – WSJ
Safety Net Cut Poverty Nearly in Half Last Year, New Census Data Show – CBPP
The world’s richest economies: China no more – Economist
Specter of Renewed Crisis Polarizes Europe – NY Times
In Qiqihar, a glimpse at China’s slowdown – Reuters
Russia’s $13 Billion Support for Ruble Impaired by Oil Under $90 – Bloomberg
China’s housing market rescue still risky business – Want China Times
Older Homeowners Won’t Get a HELOC, a Second, or Refi based on your Equity – Mandelman
Now Comes The “Specter Of Deflation”: The Money Printers’ Latest Scam – Contra Corner
Yellen says she’s ‘greatly’ concerned by rising inequality – MarketWatch


Food Stamps and Unemployment

More evidence that the current economic “recovery” is unlike any other comes via Robert Doar in this item at Real Clear Markets where food stamp SNAP (Supplemental Nutritional Assistance Program) usage has failed to take its usual course following the end of a recession by moving lower along with the unemployment rate.

Of course, new claims for unemployment insurance reached a 14-year low earlier today, so, the recent trend shown above shows no sign of reversing.

Why is this happening? The answers you might hear are likely dependent upon the political party affiliation of the person responding to the question, but this also involves changing demographics, ongoing cultural changes related to government assistance, and a host of other issues related to our financial/economic system and the decline of an aging empire.

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Thursday Morning Links

Share prices continue to slide – BBC
Fear Goes Viral on Wall Street – Fiscal Times
Risk of Deflation Feeds Global Fears – WSJ
What the heck should the Fed do now? – CNN/Money
Falling oil prices shake up global economies – AP
World economy so damaged it may need permanent QE – Telegraph
Treasuries Gain as Oil Drops Below $80 While Stocks Slide – Bloomberg
The Depressing Signals Markets Are Sending About the Global Economy – NY Times
This is who’s getting really walloped by the stock slide – MarketWatch
Central bankers may have no quick fix as markets swoon – Reuters
Dallas County May Declare State of Disaster From Ebola Virus – Bloomberg
White House shifts into crisis mode on Ebola response – Reuters
ISIS Delivers ‘Shock and Awe’ with Arms from U.S., China, and Russia – Fiscal Times

World stock market sell-off deepens – AP
Investors Are Scared, With Good Reason – Bloomberg
Part of the Problem: Stocks Are Expensive – NY Times
October’s Wild Ride Isn’t Over Yet – Bloomberg
Market Swoon Adds to Woes for Hedge Fund Industry – Barron’s
Bond Yields Worldwide Plunge on Global Growth Concern – Bloomberg
Gold steadies, supported by global slowdown concerns – Reuters
Switzerland’s central bank calls to thwart gold vote –
Gold Posts Longest Rally in Two Months on Haven Buying – Bloomberg
Gold Rises As Stocks, European Bonds Again See Sharp Falls – Gold Core
Gold imports soar 450% in India – Mineweb

US jobless aid applications fall to 14-year low – AP
The U.S. Economic Recovery Is Still On Food Stamps – RCM
Greece Still Needs Intensive Care – Bloomberg
China Inc’s spending cuts deepest in six years as economy slows – Reuters
Venezuela Goes From Bad to Worse as Oil Prices Plummets – Bloomberg
When It Comes to Beheadings, ISIS Has Nothing Over Saudi Arabia – Newsweek
Don’t Mess With Saudis in Oil Bear Market Global Shakeout – Bloomberg
No matter what stats show, Canada’s housing boom is about to end – FP
U.S. foreclosure activity falls to eight-year low – Reuters
How Dodd-Frank Spurs Big Banks To Add Systemic Risks – IBD
Yellen Gets Swedish Lessons From Most-Important Data – Bloomberg
What Options Are Left for Central Banks? – of two minds

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