The 10 most Useless Graduate Degrees (Management The MOST Worthless Followed By Marketing And Computer And Information Systems)

Business Insider has an interesting article, “The 10 most useless graduate degrees.”

Unfortunately, for business schools, three of the most useless graduate degrees are in the top ten. In fact, they ARE the top three most worthless degrees.

3. Computer and Information Systems

2. Marketing and Market Research

1. Human Resources and Personnel Development

Advice to students taking graduate degrees in business: Take finance and accounting courses. And take courses where up-to-date topics are studied.

But if you major in Management, Marketing or Computer and Information Systems, prepare to be be able to ask “Would you like steamed or fried rice with your General Tso’s Chicken?”




Chicago Business Barometer Collapses To Lowest Level Since 2009 But Germany’s Bundstag Backs Greek Bailout Extention)

The Chicago Business Barometer has collapsed below 50 to its lowest point since 2009.


And I thought that the German Bundestag backing the Greek bailout extension would be cause for celebration!

Or are we just watching the net installment of the horror series “Saw”?

sawtriciclodeformado (1)

Another tip of the hat to Jesse’s Cafe Americain!

Speaking of SAW and Jigsaw, here is a clip of Merkel talking to Greek leaders.


Q4 GDP Rose Less Than Previously Thought (Down 60 Percent From Q3), Growth Slows Where My Government Grows

Well, ain’t that a kick in the head.

Q4 GDP rose at a 2.2 percent rate, a downward adjustment from the preliminary estimate of 2.6 percent.

gdpq4sNotice how GDP growth have been declining since 1950 (16.9 percent QoQ) to Q4 2013 (2.2 percent QoQ). Now QoQ GDP growth is down 60 percent from Q3 to Q4 2014.


As the Edison Lighthouse once sang (sort of ), growth slows where my government grows.


Personal consumption expenditures grew at 4.2 percent QoQ, tying the highest rate since The Fed began their massive intervention.


Here is the breakdown of the Q4 GDP numbers.



What did Americans spend their money on? HEALTHCARE! (I am using a chart from Zero Hedge since I have to head to the hospital for my knee arthroscopy.

persona spending Q4 revised_0

Let’s see if The Federal Reserve and Janet Yellen have any tricks up their sleeves in their Little Green Bag.









New Kid In Town: BNY Mellon and Amherst Team Up to Offer Real Estate Credit Funds

There is a new kid in town in the mortgage lending arena: Amherst Capital Management LLC.
(Bloomberg) — Bank of New York Mellon Corp. is teaming up with mortgage specialist Amherst Holdings LLC to form an investment firm that specializes in running real estate credit funds.
The new firm, Amherst Capital Management LLC, will invest in commercial and residential mortgage-backed securities and make direct real estate loans. Texas Treasury Safekeeping Trust Co., a $57 billion agency that invests the state’s surplus cash, has made “significant” capital commitments to the Amherst funds, Sean Dobson, chairman and chief executive officer of Austin, Texas-based Amherst Holdings, said in an interview.
The new venture brings together Amherst’s mortgage expertise with BNY Mellon’s access to client money. The demand for real estate financing has grown since the financial crisis, as increased capital requirements for banks have reduced their lending capacity. Firms such as Amherst Capital are seeking to bridge the gap with money raised from private investors, many of whom are clamoring for the additional income that real estate loans provide.
“There is an awful lot of liquidity out there seeking yield,” said William Schwartz, head of the U.S. financial institutions group in New York at DBRS Inc., which rates asset-backed and corporate debt. “In a very low interest rate environment, real estate is one of the places you can get some alpha,” Schwartz said, using a term that refers to above-market returns.
Amherst Holdings advised clients to bet against subprime loans before that market began to collapse in 2007. BNY Mellon is the world’s biggest custody bank and ranks among the 10 largest investment managers, overseeing about $1.7 trillion in assets.
Amherst Capital will originate both residential and commercial real estate loans, said Dobson, who will also serve as CEO at Amherst Capital. Curtis Arledge, the CEO of BNY Mellon Investment Management, said in an interview that the venture was formed so that private investors could fill the lending vacuum created by new regulatory requirements for banks.
“The historical real estate capital channels have less capacity and that capacity needs to be replaced,” Arledge said. “Going forward, we think the providers of capital will be very different.”
Standish Mellon Asset Management Co., a BNY Mellon subsidiary that runs fixed-income strategies, will hold a majority stake in Amherst Capital. Standish oversees about $167 billion mostly on behalf of institutional investors, including endowments and public and corporate pension plans.
This is not to be confused with the awful Eagle’s song “New Kid In Town.”
I agree with The Dude, I hate the Eagles, Man!

FHFA Purchase Only Home Price Index RISES 1.40 Percent In Q4

The purchase-only home price index from the regulator Federal Housing Finance Agency  rose 1.40 percent in Q4 of 2014.

fhfahp4qIt’s a wonderful day in the neighborhood …


At least it’s better than Mr. Robinson’s Neighborhood. 

Their Big, Fat Greek Bank Run: Greek Bank Deposits Plunge To 2005 Levels

According to the Bank of Greece, bank deposits have declined to 2005 levels. Hey, I thought CNBC and Fox Business talking heads were saying “All Quiet on the Gyro Front”!



Apparently, the Greek default crisis is not over yet (in fact, it will be ongoing), although the 10Y Greece sovereign debt yield is considerably below its peak from the last time Greece threatened to default on its debt.


The Greek 3Y sovereign yield is 13.38 percent. The German 3Y sovereign yield is -0.184 percent. That is a spread of around 13.50 percent (meaning that German banks can borrow at near zero rate and lend to the Greeks at 13.38 percent. Now THAT is a spread.


Of course, the German banks will go up in flames if Greece actually defaults.



Even the Bank of Greece internet banner is depressing.


Opa! Greek banks are on fire!




US Real Average Weekly Earnings Grow At 3 Percent (Fastest Rate Since 2007), Even Though CPI Rate Is Deflating

According to the Bureau of Labor Statistics (BLS), US Real Average Weekly Earnings grew at a 3 percent pace in January. This is the fastest wage growth since  2007 and The Fed’s massive intervention in financial markets in 2008.


Was it QE3 that finally jumpstarted earning growth at last? If so, that is one heck of a lag between the first round of QE in late 2008 and January’s earnings growth rate.

Of course, this is somewhat odd given that inflation just printed in a deflationary plunge.


Paging Janet Yellen! Please tell us what is happening with the massive Fed intervention! (Another gem from Jesse’s Cafe Americain).