investmentresearchdynamics.com / Dave Kranzler / May 3, 2017
Goldman Sachs’ net income declined 42% from 2009 to 2016. How many of you reading this were aware of that fact? Yet GS’ stock price closed today 36% above its 2009 year-end closing price. See below for details.
Auto sales in April declined again, with the Big Three domestic OEMs (GM, F and Chrysler) missing Wall St estimates by a country mile. The manipulated SAAR (seasonally adjusted annualize rate) metric put a thin layer of lipstick on the pig by showing a small gain in sales from March to April. But this is statistical sleight of hand. The year over year actuals for April don’t lie: GM -5.7%, F -7% and Chrysler -7.1%. What is unknown is to what extent the numbers reported as “sales” were nothing more than cars being shipped from OEM factory floors to dealer inventory, where it will sit waiting for an end-user to take down a big subprime loan in order to use the car until it gets repossessed.
The growth in loan origination to the key areas of the economy – real estate, general commercial business and the consumer – is plunging. This is due to lack of demand
Read more ... source: The Bitcoin Channel
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