Breakfast Links

Today is Tax Freedom Day in America.  From here on out, you are working for yourself.

Coppola winery hires wine expert from Chateaux Margaux.  If you don’t know Coppola Winery, it’s a tremendous historical property in Napa.  Originally it was the Inglenook estate and produced some legendary wines back in the day.  Chateaux Margaux is a first growth estate from France.  In great years, Margaux is wonderful.  Coppola has produced some good wines in the past, it will be interesting to see what high powered consulting will do to the estate.

Consumer loans at commercial banks drop for the tenth straight month according to the St. Louis Federal Reserve.

Alcoa beats earnings, but revenue misses.

Alcoa Stock Chart by YCharts

The Eurozone is in deep trouble.  Bend over Portugal, Ireland, Italy, Greece and Spain.  But Germany is not.  Their economy is scheduled to have no budget deficit by 2015 and powers ahead.  How do the PIIGS not default by the end of the year?

Mitt Romney declares for the Presidency, Yawn.   If I could short Mitt I would.  Obama still beats the generic Republican challenger at this point. Obama’s approval rating is chasing submarines lower.  For technical analysts out there, -23 is probably support.

If you fear hyperinflation in the US read this.  However, we are going to get a healthy dose of true inflation.

Donald Trump bloviating. Amidst all of this, there is one question I would like to know the answer to.  When Obama applied to college, did he apply as a US Citizen or foreign student.  It’s possible to have dual citizenship in the US until the age of 18 when you have to declare.  Who cares about the birth certificate, let’s see a college application. (not that this is a core issue anyway-Obama wants the right to worry about this, then they ignore his tax and spend policies)

The Civil War began today, 150 years ago.  Here is a story about tracing the steps from Vicksburg, MS, to Gettysburg, PA.  Because the price of gas is so high it’s cheaper to undertake the trip with a horse.  Because of really bad economic policy in the northern states, the south is rising again.

Peter Thiel and the higher education bubble. Got to confess, I agree with him. Why are kids going to college and spending 50k per year for film studies, sociology, or any of the “discover yourself” majors? Here is a piece of advice. Study the classics, the history of western civilization. Then pick up a major that will teach you to critically think or pick up a skill. A useful foreign language, business or better yet engineering, math or a difficult science like chemistry. Heard about a kid majoring in environmental studies, sorry, that’s not a science. It’s a waste of your time.

The US needs to rethink this whole TSA thing.  Groping a 6 year old?  Statistical profiling should be utilized.

Sidney Lumet is dead.  Recently, I watched his movie “Network”.  It was great.  ”I am mad as hell and I’m not going to take it anymore.”

A US Pork Delegation is down in South America talking free trade.  ($HE_F)

Global food prices are down.

PIMCO is short US Treasuries. What happens to US Treasuries if Europe blows up?

TRSY Stock Chart by YCharts

Showing my age with this tune. Have a good Tuesday.

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