Green Shoots & Leaves
Fox Business – American Express (AXP) said Wednesday it will take a $113 million charge in the fourth-quarter to pay severance for 550 employees being let go as part of its global restructuring.
Zero Hedge – Tom DeMark – An 11% drop in the market is imminent
Zero Hedge – More weak economic data today, as Housing starts were reported at 529K on expectations of 550K, another sequential decline from the prior revised 553K. The silver lining was in the housing permit number which was 635K on expectations of 554K (compared to a prior revised 544K). Yet as the note from GS below explains the only reason for the surge in permits is due to a jump in applications ahead of the implementation of new building codes in 2011. As Hatzius notes: “If building code changes are the main explanation for the rise in permits, we should see a substantial drop back in multifamily permits next month.”
Reality Times – Is the housing market poised for a double dip in house values? Corelogic reports that as of November, home values were down 5 percent from the same time the year before.
Money & Markets – New debt crisis striking right now
Yahoo Finance – Why supermarkets are getting squeezed
The Market Oracle – Dallas Fed president attacks Ron Paul (great read if only for the smackdown of the Dallas Fed president).
Calculated Risk – Record low housing completions in 2010
Acting Man – More bailout money is waiting in the wings
The American Dream – High oil price = faster economic decline for America
January 26th, 2011 at 12:32 pm
[...] 1; Unsolicited Junk Mailers; American Gothic Revisited; My friend Jotun eats meat; Green Shoots & Leaves 2; Inside Mitchieville, with Fenris Badwulf; It is impossible to think of a China-America war; Modern [...]