The markets are confused by Ben Bernanke’s testimony; but they really shouldn’t be. Bill Tatro also joined the program to talk about some of the unexpected items that might wage war on this so-called “recovery.”
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Show Prep:
Big Three:
Buy things when nobody wants them. (Assuming people will want them in the future.)
Buy the Dip, We’re Going to Dow 16,000! Says Schoenberger | Breakout - Yahoo! Finance
Durable Goods are up! Surprisingly Bloomberg’s Chief Optimist, the ever positive Michael McKee, found some bad news in the report. . . Watching Mike McKee report “bad” news is kinda like watching a sad clown:
Durable Goods Orders Increase on `Boeing Effect': Video - Bloomberg
It turns out that some of the more profitable sectors (like the tech sector) aren’t making their profits by expanding. . . They’re simply cutting costs. With Obamanomics here to stay for a while, growth is just not possible, but layoffs are always an option.
Tech's Dirty Little Secret: Growing by Shrinking: Video - Bloomberg
Ezra Klein is an Idiot:
Nancy Pelosi on the IRS scandal: It’s Bush’s fault. (See, the buck always stops in Crawford Texas.)
Pelosi Blames Bush For IRS Scandal | Nancy Pelosi | Fox Nation
Other News:
Um. . . If our economy was doing better, wouldn’t we have less people dependent on the government for food?
Sessions: Food stamp spending to remain double pre-recession levels | The Daily Caller
Kinda makes you wonder: Why were conservatives overjoyed with man?
Obama's Tuesday: The Jersey Shore with Chris Christie - POLITICO.com
Viva la France:
French govt backs 75% tax rate, scraps exec pay cap - FRANCE - FRANCE 24