$0 IN REVENUES BUT WORTH A $1 BILLION PRICE…WOW!

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Facebook Inc. (FB), the biggest social- networking service, is buying the Instagram mobile photo-sharing application for about $1 billion in cash and stock, using its biggest acquisition yet to attract users of mobile devices.

The transaction is expected to close later this quarter, Menlo Park, California-based Facebook said today in a statement on its site. Facebook Chief Executive Officer Mark Zuckerberg also announced the deal on his Facebook profile page.

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SOURCE: http://www.bloomberg.com

THEY DO NOT EVEN HIDE THEIR BIAS AND AGENDA ANY MORE

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Who are they trying to kid? If bush was still president, this title would be “higher gas prices causing much public anger!” they do not even hide their bias and agenda any more.

Gas prices have soared about 15% in the last six months, hitting $3.94 a gallon on average nationwide, and $4.29 in California.

The mood of motorists? Meh.

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SOURCE: http://articles.latimes.com

 

Higher gas prices cause less public anger this time – Los Angeles Times

THIS GUY MANAGES THE MIAMI MARLINS

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The amazing part of this story is this guy manages the MIAMI Marlins…and I am tired of empty apologies. This guy loves Chavez and Castro…he should just admit it…and then resign.  

A group of Cuban-American demonstrators plans to boycott the Miami Marlins as a result of manager Ozzie Guillen‘s comment that he respects Fidel Castro.Vigilia Mambisa, headed by Miguel Saavedra, said it plans to begin a caravan of cars at SW 36th Avenue and 8th Street Tuesday that will culminate in front of the ballpark.

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SOURCE: http://www.nbcmiami.com

YES…EVERYTHING IS RACIST

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Had to post this. There is a big fight over voter I.D. laws…many claiming harsher laws are racist. Yes…everything is racist. Let’s see how the Attorney General acts on this. Read this: 

U.S. Attorney General Eric Holder has declared that there is no proof that in-person voter fraud is a problem. He’s about to see proof that even he can’t deny.

In a new video (below) provided to Breitbart.com, James O’Keefe’s Project Veritas demonstrates why Holder should stop attacking voter ID laws–by walking into Holder’s voting precinct and showing the world that anyone can obtain Eric Holder’s primary ballot. Literally.

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SOURCE: http://www.breitbart.com

WHAT TIME IS THE CASTRO IS BEAUTIFUL CLASS?!

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New for the 2012 spring term at Portland State University is a course called “Revolutionary Marxism: Theory and Practice”, where students will learn the fundamentals of Marxism and enacting revolution. The primary textbook will be “The Meaning of Marxism”, by Paul D’Amato. Mr. D’Amato was a distinguished guest at the 2010 Oregon Socialist Conference, which also took place at PSU…

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SOURCE: http://5440fight.com

DETERIORATION

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3 weeks ago, about 80% of stocks trading above their 10 week/50 day moving average. The guess now is about 55% and that may be generous. This means more and more stocks are not working. This means the market is getting heavier up here…and with multiple distribution days, the market may be ready for some corrective work…unlike we have seen since December 20. 

On the negative front:

Foreign markets are already  under pressure. The all important German Dax has broke below the 50 day along with France and Britain. Emerging markets are breaking. Etfs like FXI and EWZ are in trouble. We mention this because these areas often lead the U.S.

As we have stated, commodities remain horrible…as they have been breaking down for a while. This includes oil,steel,coal,copper,aluminum, gold, silver, metals, mining, and mining construction. This is surprising as commodities usually go along for the ride on the upside…not this time!

Semiconductors are now trading on the iffy side as many have looked to have topped near term. Readers of this report know how much importance we attach to this group.

Speaking of importance, we are closely monitoring the financials. So far, it’s just a pullback. 

A bunch of housing names have now broke the 50 day. This group has been leading.

Because of all this, we have turned to the worrisome side for the first time in a while. The market has become narrower and narrower. When this occurs, it is getting close to correction time. The good news is that the narrowing leadership has led to growth stocks leading the way. As growth stock people, this makes us happy…but knowing that if the correction gets some legs, growth will come in also.

In case you didn’t see, the fake job’s number was blah! As we have stated, add back all the supposed people that have left the labor force…and the unemployment number would still be above 10%. If the job market was really getting better, more people would be entering the labor focre…not the other way around.

 

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.

I COULD NOT SAY THIS ANY BETTER!

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Something odd and not quite as planned happened as America grew from its “City on a Hill” origins, on its way to becoming the world’s superpower: government grew. A lot. In fact, the government, which by definition does not create any wealth but merely reallocates it based on the whims of a select few, has transformed from a virtually invisible bystander in the economy, to the largest single employer, and a spending behemoth whose annual cash needs alone are nearly $4 trillion a year, and where tax revenues no longer cover even half the outflows.

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SOURCE: http://www.zerohedge.com

I WARNED YOU ABOUT GROUPON!

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Here’s an unsettling fact for anyone thinking of ever buying shares in a newly public company: Even if its executives know their internal accounting systems are a wreck, they aren’t required to disclose this until after the company goes public.It is a lesson that Groupon Inc. (GRPN) shareholders have learned the hard way. Groupon shares fell 17 percent on Monday, after the online coupon company said late last week that it had identified a “material weakness” in its internal controls over financial reporting, as of Dec. 31. The Chicago-based company also revised its fourth-quarter results to show lower revenue and a larger loss, after finding errors in its accounting for customer refunds. At $14.54, the stock now sells for 44 percent less than it did after the first day of trading.

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SOURCE:  http://www.bloomberg.com

CHART OF THE DAY 4/8/2012

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Back to 1968 numbers…wow!

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SOURCE: http://www.nytimes.com

CHART OF THE DAY 4/7/2012

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