Friday, November 18, 2011

Morning Journal One futures/options firm exits because the game is rigged


Economics
This Week’s Data


The November Philadelphia Fed index of general business conditions came in at 3.6 versus expectations of 8.8 and the October reading of 8.7.
http://advisorperspectives.com/dshort/updates/Philly-Fed-Business-Outlook.php

Other

US debt approaches 98% of GDP (medium):
http://advisorperspectives.com/dshort/guest/Lance-Roberts-111117-Debt-to-GDP.php

Update of M2 (short):
http://scottgrannis.blogspot.com/2011/11/m2-update.html


Politics

Domestic


Despite record profits, big farms received $10 billion in subsidies this year. What is wrong with this picture (short):
http://mjperry.blogspot.com/2011/11/big-farm-rakes-in-record-profits-this.html

The head of the congressional budget office testifying on the net impact of Obama’s $800 billion stimulus package:
http://www.powerlineblog.com/archives/2011/11/cbo-democrats-stimulus-plan-hurts-long-term-gdp-growth.php

Today’s must read: the farewell of a principal in the options/futures market:
http://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-mf-global-collapse-presenting-first-mf-global-casualty

International

China reboots money supply (short):
http://www.macrobusiness.com.au/2011/11/china-reboots-money-supply/