IT’S ABOUT TIME TAXPAYERS DID NOT HAVE TO SUBSIDIZE ETHANOL

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Washington —The United States has ended a 30-year tax subsidy for corn-based ethanol that cost taxpayers $6 billion annually, and ended a tariff on imported Brazilian ethanol.

Congress adjourned for the year on Friday, failing to extend the tax break that’s drawn a wide variety of critics on Capitol Hill, including Sens. Tom Coburn, R-Okla., and Dianne Feinstein, D-Calif. Critics also have included environmentalists, frozen food producers, ranchers and others.

The policies have helped shift millions of tons of corn from feedlots, dinner tables and other products into gas tanks.

Environmental group Friends of the Earth praised the move.

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SOURCE: http://www.detroitnews.com

TAXPAYER SCREWED ONCE AGAIN

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Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy.

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SOURCE: http://www.michigancapitolconfidential.com

12/20/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/122018.mp3

JUST LETTING YOU KNOW…

In the past few weeks, I’ve been telling you that the end of the year has a tremendous track record.

The last 10 out of 10 years, from Veterans Day until the end of the year – UP.

The past 22 out of the 24 years – UP.

Yet since Veterans Day, the market has been kinda sucking wind. And every day, I’ve been coming on this show  saying, “Wow, is it ugly…there is no leadership…Wow they just can’t get this market moving.”

And then what happens? At the end of November, 2 huge gaps up in the market, making the end of the month look so much better. Then the market tops out again into yesterday.

…Leaving only eight days left in the year with the S&P down for year. With the NYSE, the Russell and the other indices down a decent amount. Foreign markets, basically trashed. What do they do?

They gapped it up 260 points today…and had a very strong day…the third huge gap since November 28.

Leave no doubt I play the market as it comes. I will let the market dictate no matter. But for me, I think they have started the “mark up” period — now with seven days left.

And of course, this Friday things will quiet down. And of course, next Friday will quiet down. I am thinking  that the S&P will be above 1258 because 1258 is where the S&P started this year. They’re going to do their very best.

I’m letting you know, I’ll play it as it comes:

If we can get leadership..,

If we can get stocks breaking out on heavy volume…

If we can start to see some success in those moves…and then more and more names show up…I WILL BE DO EVERYTHING TO BE ALL OVER IT.

But as of right now, it’s one day up. I do expect higher prices at the end of the year. ..but I will need leadership.

6-7 pm EST

Best of Investor’s Edge
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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

HERE IS WHAT THEY ARE DOING WITH OUR MONEY…ENJOY!

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SOURCE: http://www.coburn.senate.gov/public/index.cfm?a=Files.Serve&File_id=b69a6ebd-7ebe-41b7-bb03-c25a5e194365

 

 

THE JAM INTO YEAR-END

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I have been sitting here and asking myself for a couple of weeks: “Where is the jam into the end of the year?” After all, we all know how life works in the market. At the end of every month, more at the end of every quarter…and especially at the end of the year, the markets somehow pop into those time frames. Of course, it is illegal to paint the tape. Yeah right!

Off of some very ugly action in past days where the financials continued to act like it is 08 all over again and where markets would open strong, only to sell off, today looks different. All the things that need to happen to juice the market…are happening early…and on another gap. Very simply, the euro is gapping up while the dollar is gapping down…unleashing another big gap to the upside in the market. Just about all the gains since the recent low on 11/25 have been on huge gaps on supposed good news. Hmmmm!

I have no idea if they sell today’s gap again. I just know the days are running out in the year to take the market up to the point where the S&P is at least not down for the year. My guess is that this one stays up but who the heck knows? My worries have not been about December because of the end of year action. My worries have been more about January…especially with the action in the financials. Regardless, I suspect this will continue to be what it has been most of the year, a very tough market to play as these gaps remain a pain in the rear.

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

12/19/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/121918.mp3

JUST LETTING YOU KNOW…

Since the two big gap-up days on the European news, nothing has happened.

In the last week, I’ve been starting to tell you things that I haven’t told you in a while. That the market was acting very bearishly…and I’m worried…even though we’re in this area we call “seasonal strength.”

We can only go by precedent – which is never 100%. The last 10 out of 10 years, the market has been up from Veterans Day until the end of the year as well as 22 out of the past 24 years. I have to believe they are going to rally this into end of year…but so far, nothing doing.

No matter what, there’s been no leadership. And then last week,  a lot of things started to roll over and there was no relief from that today.

Typically in the last 8 days left in the year, they will paint the tape. But they ain’t painting nothing yet!

And they’re playing no favorites. Especially in the one area that I told you topped out first in February and was acting like it was ’08 all over again…the financials.

THE FINANCIALS CONTINUE TO BE BLUDGEONED. ABSOLUTELY BLUDGEONED.

As the market was up early – the financials kept leaking and leaking…acting horrid.

I thought this action would come in January. As stated right now, the market is not waiting.

  • The new low list, picking up markedly.
  • The new high list, ain’t much.

In the last week, the new high list has been some big drug companies, utilities, and tobacco. That’s it.

The dollar continues in its strength as the default currency. The Euro…acting like the New York Giants. Good if you’re visiting Europe from here. Bad for the markets.

I am still quite the worried person about January. We’ll see if the end of year rally does indeed come. 

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

THE EMPLOYMENT NUMBERS ARE WORSE THAN STATED

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Notice the big drop since in the past 2-3 years. Go back to 66% civilian participation and the unemployment rate skyrockets. If the job market was indeed getting better, this chart would not be diving. Or maybe the ATMs are the culprit.

JUST LOGIC!

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Bring on the war of words. In a frank conversation with MSN writer Lawrence Ulrich, Audi of America President Johan de Nysschen has said that the Chevy Volt will fail and that anybody who buys the car is an idiot. Not only that, de Nysschen has lumped proponents of any type of electric car into a category of “intellectual elite who want to show what enlightened souls they are.”

I’m guessing that means a fair amount of the people reading this would be considered idiots and pompous intellectual elites in Mr. de Nysschen’s book. Funny that. Hearing an Audi executive mocking any other car as being for intellectual pompous elites is, err, interesting, given that Audi is known for being in exactly that category themselves. Agh.

Continued

SOURCE: http://gas2.org

12/16/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

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http://archives.warpradio.com/btr/InvestorsEdge/121618.mp3

JUST LETTING YOU KNOW…

9 trading days left in the year.

In the past few months, I made a point of telling you that we’re entering a very tough period for the market…and that’s what we got.

I said it based on how many areas of the market that had topped out–combined with policy, Europe, deficits, margins, lack of expansion. A nauseating nine months.

And nauseating doesn’t mean the market has to be down 50%. It means some financials are down 40% to 50%, commodities 25% to 30%, foreign markets anywhere from 15% to 30%…and a lot stocks beaten up, a lot of past growth leaders destroyed. No leadership whatsoever. Can’t make any money on your savings as the moronic, maniacal Fed has rates at zero.

So what do we do during this time.

Patience. Patience.

If there’s any one thing I’m happy about, it’s the patience I’ve had. And it was caused by a) the markets and b) trying to do a couple things that just didn’t work. When things don’t work, you have to patient.

While so many will discouraged and upset…and tend to walk away….

THERE IS NO BETTER TIME IN THE MARKETS THAN WHAT WE ARE SEEING RIGHT NOW.

…Here’s why:

Bears markets always end. And what they do is spawn new bull phases with names you have never heard of that go on to two-, four-, five-….ten-fold moves. So I’m still hard at work and I will continue to be work hard at it….and wait until…

…A lot of leadership shows up. And its not  there yet.

…And I’m looking for new names. Can’t find any yet.

6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

 

SAW THIS COMING SEVERAL MILES AWAY. WILL ONLY GET WORSE!

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HONG KONG—Real-estate prices are falling across much of Asia as government measures to rein in once-booming prices start to bite and the slowing global economy hits export-dependent economies.

The slowdown ends years of increases that have driven prices up by 70% or more since the start of 2009 in the hottest markets, spurred by strong economic growth and an influx of investors, many of them foreign, who view Asian real estate as an investment that is relatively immune to the global financial turmoil.

Markets such as Beijing, Hong Kong, Singapore and Sydney are all seeing outright price declines, while prices are flat in Seoul.

Continued

SOURCE: http://online.wsj.com