Monday, April 22, 2013

That's the news

I believe STLY...
You'll have to follow the link to see the rest.  You know it's brilliant, though, because I wrote it.

Data Shift to Lift US Economy by 3%
The U.S. economy will officially become 3 percent bigger in July as part of a shake-up that will for the first time see government statistics take into account 21st century components such as film royalties and spending on research and development.
Yay!  They figured out a new way to juggle numbers to make our economy look bigger.  Those accountants are brilliant!

Existing Home Sales Fall as Prices Rise Most Since 2005
Nationwide, the median price for a home resale rose to $184,300 in March, up 11.8 percent from a year earlier, the biggest increase since November 2005.
Actually, I find the decline in sales a bit of a relief in light of the rise in prices.  It might be showing that buyers aren't just being stupid, afraid they're going to miss out.  Then again, I don't really want to give the American public too much credit for intelligence.

Bracing for Disaster: How Bad Will Apple’s Earnings Be? 

In other words, Tuesday's earnings report is expected to be a disaster. That's one reason the stock has tanked over the last several weeks: No one wants to be the sucker left holding the bag.
I've never been a big fan of Apple, so this is kind of a "feel good" story for me.  Unfortunately, there is already a lot of negativity priced into the stock, so even if the earnings report is bad, it might be good for the stock.  Often, uncertainty about how bad something will be is worse than finding out how bad it really is.

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