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Thursday June 18, 2015

// June 18th, 2015 // Comments Off on Thursday June 18, 2015 // Daily News

Gartman: Greece would be better off defaulting

Dennis Gartman said Thursday that Greece would be better off defaulting and exiting the euro zone.
“If I were the Greek prime minister I would have defaulted long ago and left because at least I then know I can get my currency back, I can devalue it, my textile industry becomes competitive, my tourism industry becomes competitive again, my shipping industry becomes competitive,” the publisher of the Gartman Letter said on CNBC’s “Squawk Box.”
Negotiations between Greece and its European creditors have broken down, and the Mediterranean country faces billions of euros in debt payments at the end of the month.
“If I were [Prime Minister Alexis] Tsipras I would have told them to take it and shove it and walked off long ago,” Gartman said. (Tweet This)
Read More Why it’s so hard to predict the impact of a Greek default
Given Greece’s small population and the size of its economy, a Grexit would be “relatively inconsequential,” Gartman said. He acknowledged the event would cause “great concern” over the fate of the euro, but said investors would soon come around to the idea that a euro without Greece is more valuable than a euro with it.
Not everyone is so sanguine. The Organization for Economic Cooperation and Development earlier this month said a Greek exit could derail the entire euro zone recovery.
Others worry that Greece’s departure could set a precedent for other European countries struggling under the burden of heavy debt loads and austerity measures.
The only reason Greece has remained a part of the currency union this long is because Germany won’t let it out, Gartman said.
“Germany needs to keep Greece in the euro to keep the euro otherwise cheaper than it would be because Germany is an exporting country,” he said. A Grexit would also be detrimental to France and Poland, he added.
A weak currency makes a country’s goods more affordable to foreign customers.
Confusion is swirling over German sentiment on a Grexit because the public wants it, but the country’s leadership and “cognoscenti” need Greece to remain in the union to support Germany’s economic expansion, Gartman said.
“Bayer needs Greece in. Thyssenkrupp needs Greece in. Daimler needs Greece in,” he said. “And that’s the problem. That’s the confusion that people are talking about.”

Today’s Inspiration

Think About What You Are Thinking About

by Joyce Meyer – posted June 18, 2015

Whatever is true, whatever is worthy of reverence and is honorable and seemly, whatever is just, whatever is pure, whatever is lovely and lovable, whatever is kind and winsome and gracious, if there is any virtue and excellence, if there is anything worthy of praise, think on and weigh and take account of these things, fix your minds on them].
Philippians 4:8

Some people are very unhappy, and they have been that way so long that they no longer realize there is another option. I can well remember being like that. I blamed my unhappiness on the way others behaved. I thought my husband and children caused me the most unhappiness. If they would change and just be a little more sensitive to my needs, I knew I’d feel better. If they would help around the house more, volunteer to run errands, or just ask how I was doing, I knew I’d be happy. Of course, I never said anything to them. If they were sensitive and caring, I thought, they would be able to see how they could help me and make my life easier. I did pray about it, and I often told God how much happier I would be if they cooperated more, but they didn’t change.

Wednesday June 17th 2015

// June 15th, 2015 // Comments Off on Wednesday June 17th 2015 // Daily News

Huge, historical bond move is upon us: Technician
Alex Rosenberg | @CNBCAlex
CNBC.com

Treasury yields have risen sharply over the past two months. And according to technician Craig Johnson of Piper Jaffray, the real move in rates is just getting started.
“This will be the big, new secular rising rate environment in the U.S., and it is something a lot of investors haven’t seen, and it is something we need to pay very close attention to,” Johnson said.
To him, the path forward for rates makes itself obvious on a long-term chart. Examining a ten-year chart of the 10-year US Treasury yield, Johnson espies a “big, inverted head and shoulders bottoming pattern.”
“The last time I’ve seen a pattern this big was back in 2009,” he said Friday in a “Trading Nation” interview.
By this technican’s work, the consequent move higher in rates could be quite significant.
“If this bottoming pattern breaks above 2.70 [percent], you’ve got a neckline break on this, you can measure it out to over 4 percent,” Johnson said. “10-year bond yields will probably take about five to six years to get there, but this is the start of a new secular uptrend.”
Zachary Karabell, head of global strategy for Envestnet, points out, however, that even a 4 percent 10-year yield is pretty low in a long-run historical context.
“Going from 2.40 to 2.50 to close to 4 in five to seven years—I’m not really sure it really qualifies as a change in a 30-year secular downtrend,’ he said. “I think we are more likely to be in a world where sub-4-percent, maybe even sub-3-percent long-term rates are kind of the new normal.”
Even if rates rise to 4 percent, then, the spell of low rates shouldn’t necessarily be considered broken.

Today’s Inspiration

We Want the Real Thing

by Joyce Meyer – posted June 15, 2015

I am speaking the truth in Christ. I am not lying; my conscience [enlightened and prompted] by the Holy Spirit bearing witness with me . . . Romans 9:1

Nobody likes being tricked. We don’t like false advertising, phony small-talk, or fake relationships. In our world, people often put on a plastic smile and tell everyone they’re doing fine while inside they’re falling apart. It’s all an illusion.

As Christians we often believe we should feel better than we do or that it is wrong to feel the way we do, so we hide our feelings from everyone. Sometimes we try to hide the way we really feel from ourselves. We pretend to have faith while we’re full of doubt. We pretend to be happy while we are miserable; and we pretend to be in control and have it all together, but at home behind closed doors, we are totally different people. We don’t want to admit that we are living phony lives, so we stay busy enough that we never have to deal with things as they really are. We may even bury ourselves in church work or spiritual activity as a way of hiding from God. He is trying to show us truth, but we would rather work for Him than listen to Him.

God just wants us to be honest and real. Don’t fall into the trap of thinking all your feelings are wrong. Being a person of faith does not mean you will never have negative or ungodly feelings. We will experience feelings that need to be dealt with, but we can always exercise our faith in God and ask Him to help us to not allow our feelings to control us. The Bible says we live by faith and not by sight (see 2 Corinthians 5:7). That means we don’t make decisions based on what we see or feel, but according to our faith in God and His promises to us.

Trust in Him You need to trust that the real you, even on your worst day, is better than being fake or phony. Make the choice today to be honest, genuine, and authentic with God and with all the people in your life.