German Bond Auction Failure Today

This is a discussion on German Bond Auction Failure Today within the General Trading Chat forums, part of the Reception category; Huh? Now you're being silly Martinghoul. What planet do you live on? I wonder how long you are will remain ...

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Old Mar 27, 2012, 8:15am   #29
 
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Re: German Bond Auction Failure Today

Huh? Now you're being silly Martinghoul. What planet do you live on? I wonder how long you are will remain in denial. Like JR says, if you did your own shopping instead of having your butler do it you would know what is going on.
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Old Mar 27, 2012, 9:22am   #30
 
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Re: German Bond Auction Failure Today

Quote:
Originally Posted by new_trader View Post
Only a modern economist can think there is no inflation

General Mills - Financial News Release

General Mills Reports Results for Fiscal 2012 Third Quarter
Company Reaffirms Full-year EPS Guidance

MINNEAPOLIS--(BUSINESS WIRE)--Mar. 21, 2012-- General Mills (NYSE: GIS) today reported results for the third quarter of fiscal 2012.

Fiscal 2012 Third Quarter Financial Summary

•Net sales grew 13 percent to $4.12 billion. The international Yoplait acquisition completed in July 2011 contributed 8 points of net sales growth.

•Segment operating profit rose 1 percent to $675 million, including significantly higher input costs year-over-year and increased advertising expense.

•Diluted earnings per share (EPS) totaled 58 cents.

•Adjusted diluted EPS, which excludes certain items affecting comparability of results, totaled 55 cents, one penny below the year-ago level.

Chairman and Chief Executive Officer Ken Powell said, “Our third-quarter results reflect strong worldwide sales growth for our business, but the 10-11 percent input cost inflation we’re experiencing this year pressured our margins. In the fourth quarter, we expect to generate continued good sales momentum and we anticipate that gross margin contraction will ease somewhat. This should result in renewed earnings growth as we wrap up 2012 and move into the new fiscal year.”


Outlook
General Mills reaffirmed its fiscal 2012 adjusted diluted EPS guidance of $2.53 - $2.55. This guidance excludes mark-to-market valuation effects, and integration costs for the Yoplait acquisition. “Fiscal 2012 has represented a challenging operating environment, with the highest level of commodity inflation that we’ve seen in 30 years,” Powell said. “But sales of our leading food brands remain strong in markets around the world, putting General Mills on pace to achieve record-level net sales and adjusted diluted earnings per share.”
Real inflation Vs Government inflation.

General Mills confirms the reality while some continue to live in denial.
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Old Mar 27, 2012, 12:41pm   #31
 
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Re: German Bond Auction Failure Today

I have talked about ShadowStats before... At best, there's no reason to believe that they're any more credible than the official figures. At worst, it's a scam.

Why should I believe ShadowStats, whose methodology is completely unpublished and opaque, vs, for example, the MIT BPP data below?
Click the image to open in full size.

And, for the record, I don't have a butler and I don't know who JR is. But again, kudos for the humor.
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Old Mar 27, 2012, 12:49pm   #32
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Re: German Bond Auction Failure Today

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Originally Posted by Martinghoul View Post
I have talked about ShadowStats before... At best, there's no reason to believe that they're any more credible than the official figures. At worst, it's a scam.
I am not aware of shadowstats, so I can't comment on them. But I do know that all politically-sensitive statistics are manipulated, quite shamelessly and openly in many cases. I suppose crime figures are the most obvious and notorious.

Whatever the true inflation figure is, it is certainly higher than the government is claiming.
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Old Mar 27, 2012, 12:51pm   #33
 
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Re: German Bond Auction Failure Today

Shadow stats still calculates inflation exactly the way the BLS used to calculate it before they introduced the concept of hedonics and substitution, that is why shadow stats is credible. That is why the figures line up in the early 80's. That is why their figures match those reported by General Mills.

I read that the price of a 1st class stamp is going up 30% next month. Great news, buy 1st class stamps now, that's a guaranteed return!

Stamp prices soar to record highs - UK News - MSN News UK
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Old Mar 27, 2012, 12:55pm   #34
 
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Re: German Bond Auction Failure Today

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Originally Posted by The Leopard View Post
I am not aware of shadowstats, so I can't comment on them. But I do know that all politically-sensitive statistics are manipulated, quite shamelessly and openly in many cases. I suppose crime figures are the most obvious and notorious.

Whatever the true inflation figure is, it is certainly higher than the government is claiming.
Well, I have no problem with this as a hypothesis... However, based on the evidence available to me so far, I have not seen any actual tangible proof of this for inflation calculations. And, as if on cue, here's a post on the subject:
Argentina CPI Vs. Price Stats
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Old Mar 27, 2012, 12:56pm   #35
 
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Re: German Bond Auction Failure Today

Substitution, Weighting And Hedonics? | VIEWPOINTS OF A COMMODITY TRADER
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