Daily Archives: February 19, 2013

Financials masking weak internals of the Canadian economy

Top line gains for the broad Canadian stock market over the past year have been driven by the financial sector as low rates have continued to drive yield-desperate capital into over-valued bank shares. Unfortunately as reflected in the chart update … Continue reading

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Low volume churning and HFT desperately trying to attract fresh victims at cycle highs

Art Cashin, of UBS, discusses the “positive feedback loop,” where stocks go up for no apparent reason. Cashin says his frustration is that even though the markets have punched through key levels, people haven’t come in from the sidelines. Here … Continue reading

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Jeremy Grantham on the dynamics of a lower growth world

GMO’s Jeremy Grantham has spent decades thinking about some of the big issues that influence our existence and the global economy. He thinks that the assumptions which have powered the industrial revolution for two centuries are looking pretty threadbare. Grantham … Continue reading

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Simpson and Bowles on deficit reduction proposals

Alan Simpson and Erskine Bowles about why they are reworking their deficit reduction goal. Their plan would reduce the deficit by $2.4 trillion over the next decade. Here is a direct link.

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Canadian dollar breaks support on weakening global demand

On Friday we confirmed that Canadian manufacturing sales declined 3.1% in December to $48.0 billion, the largest decline since May 2009. Sales decreased in 16 of 21 industries, representing 82% of the manufacturing sector. Durable goods sales were down 4.2% … Continue reading

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