Monthly Archives: September 2012

Punk real earnings in the U.S.

Posted on September 19, 2012 by macromon

The BLS reports, Real average hourly earnings for all employees fell 0.7 percent from July to August, seasonally adjusted. This decline resulted from unchanged average hourly earnings combined with a 0.6-percent increase in the Consumer Price Index for All Urban … Continue reading →

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Even at $700, Apple is not a bubble — Felix TV

Posted on September 18, 2012 by macromon

Good job,  Felix!  He gets it and provides  a really cool graphic to prove it. …This is the way sensible markets work.  You start with high [PE] ratios with a low valuation and you move up to low ratios with … Continue reading →

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BoJ Ups Asset Purchase Program

Posted on September 18, 2012 by macromon

QE everywhere! Nikkei and dollar/yen rocking. (click here if table is not observable)

Posted in Monetary Policy | Tagged , , | 1 Comment

Macro Notes from the FedEx Conference Call

Posted on September 18, 2012 by macromon

The upshot – blame it on the global macroeconomic slowdown and they are  raising shipping rates.  Stagflation cometh? FedEx Corp. reported the following consolidated results for the first quarter: • Revenue of $10.79 billion, up 3% from $10.52 billion the … Continue reading →

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Quote of the Day: Train Surfing QE∞

Posted on September 17, 2012 by macromon

We are all train surfers now! David Kotok of Cumberland Advisors couldn’t express our dilemma more perfectly. Let me be very clear. I disagree with this Fed policy move. It was not my first choice. I think the Fed is … Continue reading →

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Apple Joins 700 Club in AH, Still Cheap?

Posted on September 17, 2012 by macromon

Apple closed at another all-time high just shy of $700.  It’s trading at $701 in after hours, however.   It’s been awhile since we’ve run our stock valuation sensitivity analysis and thought Apple’s  initiation into the 700 Club was as good … Continue reading →

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Job Creators in Chief

Posted on September 16, 2012 by macromon

Let us begin by saying we don’t like the title of this post and believe it is misleading. The President cannot,  in our opinion, directly create permanent jobs in the private sector.  Of course, he can hire federal workers and/or … Continue reading →

Posted in Employment, Politics | Tagged , , | 1 Comment

Week in Review

Posted on September 16, 2012 by macromon

(click here if charts are not observable)

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Global Trend Indicators

Posted on September 16, 2012 by macromon

(click here if tables are not observable)

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Stratfor: Eurozone Outlook

Posted on September 16, 2012 by macromon

(click here if video is not observable)

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