ZH provides the post of the day with Last Week's Insiders Transactions: 10 Buys For $60 Million, 136 Sells For Over $1.15 Billion. Don't they say something about following the smart money? "Courtesy of Finviz, the ratio of insider buying to selling transactions is 10 to 136. Total transaction value: Buys: $60.1 million; Sells: $1,146 million. This compares with last week's buys for $13.4 million and sells for $1,042 million. Over $2.1 Billion in insider sales in two weeks." If that ain't a green shoot I don't know what one is. Things getting worse is good, right? I have been talking about the pump and dump for sometime (since early April). Even Elizabeth Warren mentioned it in the vid yesterday, yet some still reuse to believe that the light in the end of the tunnel is not a higher place but the train that is gonna smack them straight in the face. What the heck do you think your TARP funds have been doing, creating Jobs?
Speaking of job growth. How were those jobs numbers today? No need to be redundant with a link here, I think you all know the numbers. You would never know they were worse based on market reactions. If that ain't a green shoot I don't know what one is. Things getting worse is good, right?
Calc Risk has a nice report on Report: Record Foreclosure Activity in July. "“July marks the third time in the last five months where we’ve seen a new record set for foreclosure activity,” noted James J. Saccacio, chief executive officer of RealtyTrac. “Despite continued efforts by the federal government and state governments to patch together a safety net for distressed homeowners, we’re seeing significant growth in both the initial notices of default and in the bank repossessions.” If that ain't a green shoot I don't know what one is. Things getting worse is good, right?
Naked Cap rocks the house with - Guest Post: The Next Wave of the Financial Crisis is Coming (And Why). "These excerpts from the most recent TARP Congressional Oversight Panel Report make the risks in the US financial system abundantly clear." This blow by blow view of the COP is really well written. So if the waste of the TARP funds ain't another green shoot I don't know what one is. Things getting worse is good, right?
I think you get the point. Like my last post, it is in the air approaching the fan, and when it hits it will not be pretty.