Futures Are Exploding Higher After Weekend Talk Of Mega-Bailouts And Stability Pacts


Aaaaaand we're off...

Futures are exploding higher in early going.

Here's a look at S&P futures via CME:

chart

In addition to lots of doom and gloom talk, this weekend saw two different new ideas put forth regarding the crisis in Europe.

First, there's a report about mega 600 billion EUR IMF bailout for Italy. It's not clear where the IMF would get that kind of money, or if it would even be enough, but it's out there.

And then yesterday there was talk about Germany and France rushing into a new stability pact, with the idea being that if this were agreed to fast, then perhaps the ECB would step up its role in backstopping the whole seen.

Of course, the action begins tomorrow when European credit markets open, and we've got sovereign bond auctions out the wazoo coming up, put on your chin straps.

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Q&A: Why did Paul Ryan vote YES on Medicare Part D, the Iraq War, Bush Tax Cuts, and TARP?

Question by The Equalist – OBAMA 2012: Why did Paul Ryan vote YES on Medicare Part D, the Iraq War, Bush Tax Cuts, and TARP? Isn’t Paul Ryan supposedly a stalwart of fiscal responsibility, according to Cons? All of the above programs I listed have so far added around 3.2 trillion dollars to the national [...]

Source: http://www.legaldebthelponline.com/2011/11/27/qa-why-did-paul-ryan-vote-yes-on-medicare-part-d-the-iraq-war-bush-tax-cuts-and-tarp/

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Securitization in Brazil: Opportunities and Limitations

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Continuous expansion of Brazil's financial sector, including consumer credit markets, means structured finance growth is inevitable. Monetary policy tightening will eventually reverse its course and interest rates will come down. If and when interest rates drop to new lows, investor appetite for securitized products may drive growth in Brazil's securitization market.

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Source: http://ezinearticles.com/6704883

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Interest Only Loans ? What you ought to Know?

If you are purchasing a house or replacing, you’ve probably seen adverts for interest-only loans. While this type of loan is effective for some homebuyers, other homebuyers might regret the decision to obtain an interest-only loan. First Time Home Buyer Grants Massachusetts Interest-only (IO) loans are structured so that the borrower pays the interest on [...]

Source: http://www.legaldebthelponline.com/2011/11/26/interest-only-loans-what-you-ought-to-know/

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THE COUNTRY'S PROBLEM IN A NUTSHELL: Apple's Huge New Data Center In North Carolina Created Only 50 Jobs


Apple data center

Optimists argue that the solution to the US's sky-high unemployment and income inequality is more companies like Apple--the resurgent tech company that has revolutionized the digital industry and become one of the most valuable companies in the world.

Apple has not not only created amazing, beloved products. It has created enormous profits, vast shareholder wealth, and more than 60,000 jobs.

If only America produced more companies like Apple (and Amazon, and Google, and Facebook, et al), the story goes, the country's problems will be fixed. America can retrain its vast, idle construction-and-manufacturing workforce, and our unemployment and inequality problems will be solved.

And it is true that having more companies like Apple would certainly help the US.

But we would need a lot more companies like Apple to make a dent in our unemployment and inequality problems.

Why?

Because Apple also actually exemplifies some of the reasons why we have such huge unemployment and inequality problems:

  • "Digital" businesses like Apple employ far fewer people (per profit) than traditional manufacturing businesses.
  • Apple's 60,000+ jobs are not just in the US--they're spread around the world.
  • Apple's extraordinary ~25% profit margin means that the benefits of its success accrue primarily to a relatively small group of shareholders rather than a broad base of employees.

To put this in context, the Economist recently noted that Apple, Amazon, and Google together employ 113,000 people--which is less than 1/3rd as many as a single American success-story from the prior generation, GM, employed in 1980.

A striking example of this phenomenon is Apple's new data center in North Carolina.

Like other North Carolina foothills towns, Maiden was once a thriving home of textile mills and furniture makers. Now it's struggling, with an unemployment rate near 13%.

unemployment line great depressionIn the prior generation of American companies, the decision by Apple to locate a huge new facility in Maiden would have been transformative for the town. This is one reason Maiden lured Apple with major tax breaks and crowed about the company's decision to put a data center there.

But as Michael Rosenwald of the Washington Post reports, Apple's new data center in Maiden will create only 50 full-time jobs.

And most of them won't go to Maiden residents, who lack the necessary skills.

The same can be said for the data centers that Google and Facebook and other companies have recently built in the North Carolina foothills. They're helpful, certainly, and the towns and residents are better off with them than they would be without them, but they don't make as much of a difference to the local economies as major manufacturing factories would have.

Most of the "manufacturing" jobs of these companies, meanwhile, are either super-high-tech software programming jobs or contract assembly work outsourced to China and other countries. And even in those countries, companies like Foxconn are working hard to replace labor with more efficient machinery.

long-term unemploymentUnlike many companies in the hardware and software manufacturing business, Apple's profit margins are high enough for it to be able to afford to make some of its products in the U.S., if it chose to do so. (Apple's margins could be cut in half, and it would still be more profitable than other hardware manufacturers like Dell).

But, for now, Apple has chosen to manufacture its products where it can manufacture them most efficiently--outside the U.S.  And Apple's shareholders are benefitting accordingly.

(Importantly, Apple has every right to do that. Like it or not, we live in a global economy now, and Apple sells its products around the world. Chinese citizens need jobs as much as American citizens do, if not more so. Beating up a company for "shipping jobs overseas" smacks of an antique worldview, one that simply doesn't apply to today's economy.)

But the point is that the hope that a few more companies like Apple, Google, and Amazon will restore the U.S. economy to its former glory is misplaced.

The companies create amazing products and vast shareholder wealth, but they don't spread this wealth around as much as earlier industrial giants did. We can talk all we want about how we need to "retrain" our workforce to do high-tech jobs, but even under the best of circumstances, the process will take a long, long time. And until global manufacturing pay-scales get closer to equilibrium--which will likely be accomplished by China's rising and ours falling--companies will still have an overwhelming incentive to build their products where labor costs are cheaper.

So, yes, we should celebrate the success of Apple, Google, Facebook, and Amazon. But we shouldn't delude ourselves into thinking they're going to solve our unemployment or inequality problems.

SEE ALSO: Here Are Four Charts That Show What's Wrong With The US Economy

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Debtor Involvement In Bankruptcy

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Bankruptcy is not a passive process. In fact, it requires much participation on the part of the filer. While there isn't much variation in the amount of participation required for a Chapter 7 and Chapter 13 bankruptcy, there are some differences. There are, however, differences in the benefits produced by a Chapter 7 versus Chapter 13 bankruptcy.

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Source: http://ezinearticles.com/6713195

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Practical Suggestions for Credit Cardholders

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If you are looking for information that can help you manage your credit card in the best way possible, then you have stumbled upon the right piece. In the remainder of this article, we have listed down and tackled four excellent tips that can help you in your quest to responsibly handle your line of credit.

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Source: http://ezinearticles.com/6709302

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Valspar Shares Popped: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of paint and coatings specialist Valspar (NYSE: VAL  ) climbed 10% on Tuesday after its quarterly results and full-year guidance topped Wall Street expectations.

So what: Valspar's fourth-quarter beat was so wide -- adjusted EPS of $0.84 thumped the consensus of $0.70 -- that analysts have no choice but to raise their short-term price targets. 2011 also marked the 33rd consecutive year in which the company raised its dividend, suggesting that it remains a stable long-term income opportunity, as well. 

Now what: Management now sees 2012 adjusted earnings of $2.87-$3.07, which is also well above the average analyst estimate of $2.81. "While the outlook for the global economy is unclear, our sales will benefit from our diverse mix of businesses and growth in fast-growing coatings markets in Asia and Latin America," CEO Gary Hendrickson said. More importantly, with Valspar trading at a slight forward P/E discount (using the midpoint of its 2012 guidance) to rivals RPM International (NYSE: RPM  ) and Sherwin-Williams (NYSE: SHW  ) , there's still time to buy into that optimism.

Interested in more info on Valspar? Add it to your watchlist.

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Source: http://www.fool.com/investing/general/2011/11/22/valspar-shares-popped-what-you-need-to-know.aspx

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Debt Consolidation Help

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Financial concerns are a top issue that plague many individuals, however, many do not know about certain resources that can help one get out of debt and stop the worrying altogether. Whether you have lost your job recently or simply are not making enough money for your personal needs and bills to be paid, debt is something that most people have to some degree.

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Source: http://ezinearticles.com/6709643

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