March 26, 2009
March 24, 2009
March 16, 2009
Across the country, from Vermont to Alaska, state and municipal governments are doing what they can to ease the burden for Americans who are increasingly out of work and unable to pay their bills. One controversial solution being considered is a move back to price controls. The New York Legislature and the San Francisco City Council are considering expanding rent controls. Some politicians in Vermont are trying to limit the price of milk. And in Alaska, a bill to cap oil prices is pending in the state legislature.The bad news: There will be more shortages and gross inefficiencies in the allocation of resources.
The good news: Chapter 6 of my favorite textbook will not become obsolete.
March 13, 2009
March 12, 2009
Until we see data that matches (sales are declining and job loss is occuring, or sales are increasing and job loss is slowing) we haven't seen a bottom, in the market and a rebounding to the economy. Buckle up and hold on.
WSJ NEWS ALERT: Retail Sales Slip in February, but Beat Economists' Expectations
from The Wall Street Journal
U.S. retail sales edged down in February for the seventh time in past eight months, but the decline was less than economists expected. Retail sales fell 0.1% in February but climbed 0.7% excluding autos, the Commerce Department said. Increases in an array of businesses from furniture to clothing and electronics suggest consumer resilience to a recession throwing droves of people out of work.
Sales in January were revised up sharply, surging 1.8% instead of rising by 1.0% as originally reported.
Separately, the Labor Department said first-time unemployment claims increased to 654,000 from the previous week's figure of 639,000, above analysts' expectations. The number of people receiving benefits for more than a week increased by 193,000 to 5.3 million, the most on records dating back to 1967.
March 11, 2009
Air France-KLM and Lufthansa, the two leading European airlines, announced further capacity reductions for the summer season on Wednesday in the face of the deepening world recession.
Airlines around the globe are being hit by the mounting crisis in the aviation sector. More are seeking to defer delivery of new aircraft, undermining the outlook for production at jetmakers Airbus and Boeing, and smaller producers such as Brazil’s Embraer and Canada’s Bombardier.
By Kevin Done and Gerrit Wiesmann in Frankfurt, Justine Lau in Hong Kong and John Murray-Brown in Dublin
Published: March 11 2009 19:08 | Last updated: March 11 2009 19:08
look for a fall in the Aussie dollar. Australia exports a lot of raw
materials to China and will likely see a decrease in exports as well
and thus less of a need to hold Aussie denominated deposits.
Thanks Billy Bayne
March 10, 2009
In this article we see that there is no tricking markets. Politicians can say whatever they would like, but if the rubber doesn't meet the road and things don't start to pan out the market reacts accordingly. Politicians need to get a reality check and realize that by trying to save everyone they are in fact endangering everyone. "Bad actors" unfortunately need to be punished for bad choices and bad investments, the more that is held at bay the more "good" people and investments are harmed.
Pimco Predicts Inflation, Joining Buffett, Marc Faber (Update2)
This is one of those large things that is really currently being distorted. Currently the US is basically printing as much money as it can to prop up industries and banks, they are spending money like it is going out of style; under normal circumstances I would be shorting the dollar like crazy. The more dollars on the market the less valuable the dollar. However, under current circumstances we have one of the most stable governments on the planet and uncertainty in the world leads to investment in the US and US held assets. But like everything else, this won't last forever, and at a point certain in the future our currency is going to have to take a major hit and inflation will catch up to us. The question is when. Want to be on a dollar short when it happens.
March 09, 2009
My favorite line as of late is the government wanting to get banks lending again. Does that mean being responsible and making good loans (that is never said), they simply say lending. Does it ever occur to anyone that is what got us into the trouble in the first place. Banks were lending and by so doing they made many bad loans, and we are suffering the consequence of an overinflated market.
As I've said before, at this point we need to go ahead and "reset" the economy, take our lumps and put in a good foundation on which we can build.
Concerning article. The double edge of globalization. Guns and butter can be so complicated. Former Google CEO Issues Dire Warning About Ch...
Great article. There's a huge risk to the U.S. economy right now—and almost no one is paying attention Put simply, the U.S. is courting...
That seems bad. New COVID variant with unique mutations detected in Kentucky nursing home September 21, 2021 Read in Newsweek: https://appl...
Not sure why the President is getting so involved in the bankruptcy. If a problem arises he can help with between the unions and Chrysler I...