Newspapers Are Dead – (just not yet)

Pop went the social media bubble. Now what?

The strains are already apparent. Reports suggest that Valley startups are seeing a flood of resumes from Zynga employees. Groupon’s legions of sales people are also reportedly restless. Facebook lost several senior executives since the IPO. The younger companies could soon face similar challenges, as their best employees turn their attention to the latest fad, be it big data or mobile payments — or heavens forbid, they decide it’s time to head back to the safety and comfort of Google or Apple (AAPL).

Kids - what will they think of next…

Fortune.com

Obama “I Saved the Auto Industry…” errr

General Motors Is Headed For Bankruptcy — Again

Right now, the government’s GM stock is worth about 39% less than it was on November 17, 2010, when the company went public at $33.00/share.  However, during the intervening time, the Dow Jones Industrial Average has risen by almost 20%, so GM shares have lost 49% of their value relative to the Dow.

(Obama) should probably start giving some serious thought to how he is going to justify bailing out GM, and its unionized UAW workforce, yet again.  And, during the current campaign, Obama might want to be a little more modest about what he actually achieved by bailing out GM the first time.

Obama’s team is doing everything it can to keep GM afloat through October…

We have been vociferously pointing out the incredible levels of channel-stuffing occurring at GM in the US, then China, and most recently into Europe (must read here) and now the WSJ confirms the latter;

Forbes, Zero Hedge

Say Anything…

The Campaign of Hope and Change has become the Strategy of Hate and Anger…

 

 

A desperate President clinging to his Clower and Piven

 

 

More Seasonally Adjusted Obamanomics….

The data is out and things continue to look bad for the Pussy in Chief.

Obama’s bureaucracies continue to “adjust’ the headline data in an effort to soften the blow.  Wall Street hangs its hat on any snippet of “good news” in an effort to coax any retail investor foolish enough to get back into the market.

Last week it was July retail sales that were reported as “up” year over year.  The entire “increase” was one of the largest “seasonal adjustments” in decades.  Today it is housing permits….

The market however, is transfixed by the silver lining in today’s housing data: Housing Permits which are about as credible as a Jefferies “Highly confident letter” which “soared” from 760K to 812K, the highest since August 2008. What is funny is that just like retail sales, if one actually pulls the unadjusted data, one would see the following sequence of Permits data: 75.4K; 73.8K; 72.2K. Not seasonally adjusted permits just hit a 3 month low.

In the past 2 weeks nearly 200,000 Americans have run out of unemployment… and it won’t get any better before November 6.

Zero Hedge