vineri, 1 octombrie 2010

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


Socialization of Credit: Video with James Grant; Federal Guarantees for Small Auto Dealer Floorplan Loans; Government Partnerships

Posted: 01 Oct 2010 11:33 AM PDT

James Grant, editor of Grant's Interest Rate Observer, talks about the overhaul of U.S. financial regulation and says we are on the road to Socialization of Credit.

Grant also discusses Federal Reserve monetary policy.



Federal Guarantees for Small Auto Dealer Floorplan Loans

Inquiring minds are reading Bill aimed at giving auto dealers more credit is signed into law
The federal government is keeping up its effort to stimulate the economy, while the economy is keeping up its resistance to those efforts. The latest effort to prod spending comes in a bill that, among other things, increases the federal guarantee for small dealer floorplan loans from the Small Business Administration from $2 million to $5 million. Part of the bill would also reinstate fee waivers that ran out in May, meaning loan applicants could save more than $50,000 in fess alone on a $2 million loan.

The bill passed the House and Senate along party lines and President Obama signed it into law yesterday afternoon. This is expected to be the last jobs bill to leave Congress before the midterm elections in November.

Public-Private Partnerships

We have already seen Paulson force government money down the throats of banks at bazooka point. More recently, Congress passed a bill to have government "partner" with banks to make billions of dollars available to community banks for loans to small businesses.

Fortunately both banks and corporations have resisted this effort. For details, please see ...



Socialization of Credit Well Underway

Given the vast majority of housing loans are Fannie Mae, Freddie Mac, and the FHA, and given ongoing efforts by the Fed and Congress to "stimulate lending", it is safe to say that socialization of credit is already here.

This is not a good thing.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List


Manufacturing ISM Expands , Rate Slows, Internals Weak

Posted: 01 Oct 2010 08:26 AM PDT

Inquiring minds are digging into details of the September 2010 Manufacturing ISM Report On Business®
Economic activity in the manufacturing sector expanded in September for the 14th consecutive month, and the overall economy grew for the 17th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.

"While the headline number shows relative strength this month as the PMI reading of 54.4 percent is still quite positive, the overall picture is less encouraging. The growth of new orders continued to slow, as the index is down significantly from its cyclical high of 65.9 percent (January 2010). Production is currently growing at a faster rate than new orders, but it typically lags and would be expected to weaken further in the fourth quarter. Manufacturing has enjoyed a stronger recovery than other sectors of the economy, but it appears that weaker growth is the expectation for the fourth quarter. Both the Inventories and Backlog of Orders Indexes are sending strong negative signals of weakening performance in the sector."
September ISM Manufacturing at a Glance



New Orders June Thu September



Falloff in the rate of growth of new orders is persistent and dramatic.

Inventories June Thu September



The backlog of orders is now contracting, and judging from the persistent trend in orders, it is highly likely orders will contract next month. Meanwhile inventories continue to rise.

This situation cannot last. Production is headed for a plunge if orders and backlog start contracting in a meaningful way, as appears likely.

Manufacturing ISM has likely peaked.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List


Damn Cool Pics

Damn Cool Pics


Japanese Concept Cars of the Last 50 Years

Posted: 01 Oct 2010 08:15 AM PDT

Here is a selection of concept cars designed by Japanese automakers from 1957-2009.

Toyota Proto, 1957


Toyota Proto, 1957


Toyota Publica Sports, 1962


Nissan Prince Sprint 1900 Prototype, 1963


Toyota Concept, 1966


Mazda RX 87 (Bertone), 1967


Isuzu Bellett MX1600 (Ghia), 1969


Toyota EX-1, 1969


Toyota EX-II, 1969


Toyota EX-III, 1969


Mazda RX-500, 1970


Mazda RX-500, 1970


Isuzu MX1600-II


Nissan 126X, 1970


Nissan 270X, 1970


Nissan 216X, 1971


Nissan Skyline Concept, 1972


Toyota EX-7, 1972


Toyota RV-2, 1972






Toyota F101, 1973


Nissan AD-1 Concept, 1975


Nissan NX-21, 1983


Nissan CUE-X, 1985


Daihatsu TA-X80, 1987


Mitsubishi HSR II, 1989


Nissan Boga, 1989


Nissan Figaro Concept, 1989


Nissan FEV, 1991


Mazda London Taxi, 1993


Mitsubishi ESR, 1993


Suzuki EE-10, 1993


Nissan AP-X, 1994


Toyota Moguls, 1995 // Nissan Hypermini, 1997


Nissan TrailRunner, 1997


Nissan KYXX, 1998


Honda Fuya-Jo, 1999


Mazda Miata Mono-Posto, 1999


Isuzu Zen, 2001


Toyota POD, 2001


Isuzu FL-4, 2002


Honda IMAS, 2003


Honda KIWAMI, 2003


Honda Pro Drag Civic Si, 2003


Nissan Jikoo, 2003


Toyota FINE-S, 2003


Toyota MTRC, 2004


Infiniti Kuraza, 2005


Mazda Senku, 2005


Mitsuoka Orochi, 2005


Nissan Zaroot, 2005


Acura Advanced Sedan, 2006


Mazda Nagare, 2006


Nissan Terranaut, 2006


Acura Advanced Sports Car, 2007


Mazda Taiki, 2007


Nissan Mixim, 2007


Nissan Bevel, 2007


Nissan Pivo-2, 2007


Honda FC Sport Concept, 2008


Mazda Kiyora, 2008


Honda P-NUT, 2009


Infiniti Essence, 2009


Nissan Land Glider, 2009

Sources: NetCarShow, CarStyling, ConceptNissan, Isuzu


Larissa Riquelme's Plastic Surgery: Before and After

Posted: 01 Oct 2010 08:03 AM PDT

Do you recognize this girl? She was one of the hottest girls of summer 2010. Still no clue? FIFA World Cup 2010... That's right. It's Larissa Riquelme, the hottest fan of Paraguay National Team. The surgeon Amin Mussi published photos of Larissa Riquelme taken a few years ago before she passed through 4 plastic surgeries. Now we can see which parts of her face were changed.


















What Can Be Made Out of Old Macs

Posted: 01 Oct 2010 07:43 AM PDT

Real Apple fans cannot just throw away their favorite old Macs. Thus they get creative and inspired with their beloved possessions they make stylish, unusual and unique Mac Mods. Maybe this post will give you an idea on how you can use your old Mac as well.

G4 Motorbike


G3 Beer Server


NecroMac mod


G4 iClock Mods




Mac Toilet Paper Dispensers




OS Xbox Pro


G4 Mac Fish Tank


Millennium Falcon mod


Steampunk Mac Mini Mod


G4 Mailbox


Mac Classic Mini


G4 Mac Mini Cube Mod


MSI Macbook Mini


Classic Mac Art



Bagger 288 - The World's Largest Vehicle

Posted: 01 Oct 2010 07:20 AM PDT

This machine is the largest digging machine in the world. The bucket-wheeler excavator named Bagger 288 (Excavator 288) is built by the German company Krupp. More specifically, it is a mobile strip mining machine. It is the largest tracked vehicle in the world at 13,500 tons. It even superseded NASA's Crawler-Transporter that helped to carry the Space Shuttle and Apollo Saturn V launch vehicle. The excavator is up to 220 m (721 ft) long and approximately 96 m (315 ft) high. It can excavate 240,000 tons of coal a day.








































How Popular Is the iPhone?

Posted: 01 Oct 2010 07:04 AM PDT

When it comes to tech news coverage, sometimes it seems like Apple is the biggest phone manufacturer in the world. While it is true that the iPhone is a very popular smartphone, Apple's overall share in the mobile phone market is still very low compared to giants such as Nokia and Samsung.

Click to Enlarge.



Source: billshrink