SP 500 and NDX Futures Daily Charts

Stocks were slumping most of the day from worse than expected macroeconomic news as shown in the third chart below.  Personal spending came in light as did ISM Manufacturing.

 

A late day boost led by the SP futures managed to take stocks into the green.

 

Manage those perceptions and keep the trickle down stimulus for the one percent going.  Its better than addressing the real problems with practical solutions. 

 

Have a pleasant evening.

 

 

 

France Prepared To Support Greece in Debt Negotiations

Support, whatever that means.

The negotiations and discussion surrounding the Greek debt issue are not straightforward nor transparent.

People will tend to project their own opinions on to this since it is rather complicated, especially for those not familiar with international politics.

There are a number of issues involved, and a number of players, some with their own interests and agendas that intersect enough with this to bring them into the discussions.

And like most political situations of complexity the ultimate resolution will likely involve some compromise.  So those who prefer to enhance their reputation by second guessing will almost certainly have some opportunity to say 'I told you so.'   Like so many stock forecasters, they write their hits in marble, and their misses in sand. 

In addition, I cannot stress enough that relying on only one category of mainstream media sources on this entire topic can be highly misleading.

The amount of spin and perception management being generated even by 'name' media sources these days is pronounced. Remember the stories being put out earlier this month that Russia was on the ropes, and was selling its gold to meet its reserve obligations?

And there are global macro and political issues enough so that the neo-liberal establishment will be keenly interested in becoming involved in this, fear contagion and the 'domino effect' not only in Europe, but in their own countries. 

And quietly, almost unnoticed, China and Russia keep accumulating gold bullion.

Such are the times of currency wars. And I think we might know to whom most of the Western commercial press owes their allegiance. And they are not the only ones.

But they are unusually shameless considering the image that their PR has created. I have not seen this much blatant propaganda in the major news in a very long time, probably not since the early part of the Vietnam war.  

France 24

France ‘prepared to support Greece’ in debt renegotiations

01/02/2015

France’s Socialist government offered support Sunday for Greece’s efforts to renegotiate debt for its huge bailout plan, amid renewed fears about Europe’s economic stability.

The backing was a victory for Greek Finance Minister Yanis Varoufakis, holding talks with European officials to push for new conditions on debt from creditors who rescued Greece’s economy to save the shared euro currency. Worries have mounted that Greece’s new far left government might not pay back its debts.

Varoufakis is also visiting London and Rome – and said Sunday that he would visit Berlin. The German government has been particularly angry at the new Greek government’s position and bluntly rejected suggestions that Greece should be forgiven part of its rescue loans.

Varoufakis insisted that Greece wants to pay the money back, but said he wants new terms and new negotiating partners, arguing that “it’s not worth” discussing with the so-called “troika” of creditors who set the strict terms for Greece’s rescue.

France’s Socialist leadership, whose president has campaigned against austerity, presented itself Sunday as a possible mediator between Greece and creditors.

French Finance Minister Michel Sapin insisted his country wouldn’t support canceling the debt, but offered support for a new timeframe or terms.

“France is more than prepared to support Greece,” Sapin said after meeting Varoufakis, saying Greece’s efforts to renegotiate were “legitimate.” Sapin urged a “new contract between Greece and its partners.”

Greek Prime Minister Alexis Tsipras and his new government have worried financial markets and German and other European officials by pushing to scrap painful budget cuts and rethinking the debt. Tsipras sought to calm worries over the weekend after days of increasingly heated discussions.

Varoufakis announced that he has retained financial consultants Lazard as advisers to the Finance Ministry on issues of public debt and fiscal management. The socialist PASOK party, which ran Greece during part of its debt crisis, praised the decision, noting that then-Finance Minister Evangelos Venizelos also hired Lazard advisers when he negotiated with private bondholders in 2011-2012.

BBC and British Establishment Consider Greece

The media person here is looking, not for understanding or even facts, but headlines.

Sift everything you hear in the news now, especially regarding any people or nation who are running contrary to the Western global powers.

The Worst Trade Deal That You've Never Heard Of

Obama's hypocrisy seems to  know no bounds.  He was for hope and change, openness and transparency, jobs and civil society.  

He is a brand, a marketing product of identity politics.  Unfortunately, most of the politicians of both the left and the right are the same.   They are just targeted to different segments of the public.

 

They say what is required for their marketing campaigns, and then do what they have been told to do by the moneyed interests who have bought and shaped them after they are elected.

Lead, Kindly Light

 

Two versions based on John Henry Newman's famous poem, Lead Kindly Light.

“May He support us all the day long, till the shades lengthen and the evening comes, and the busy world is hushed, and the fever of life is over, and our work is done.

Then in His mercy may He give us a safe lodging, and a holy rest, and peace at the last."

J. H. Newman

January investment Barometer: As Goes January, So Goes the Year

Here is how some investment options have fared for the month of January.

I wonder how many people would have known this based on what they have heard from pundits and the financial press.