It is quite possible that we are already in the worst recession since WWII. Bloomberg.
Does anyone believe this article? The auto CEO's claim that bankruptcy would cost the American economy more than their proposed bailout. It seems like scare tactics to me. Should Detroit sell out to Japan? Perhaps Wagoner et. al. have forgotten everything they learned about the economic theory of specialization. Japan is better at producing cars than Americans, so let's allow them to produce our cars. We can spend our time and resources on something more productive, like creating a better NFL team in Detroit. The Lions are just embarrassing. Bloomberg.
Quack quack quack. Lame ducks at work. For once, I agree with the populist Republican Dick Shelby. Congress and the White House agree, in principal, on auto company bailout. Bloomberg.
Combine Paulson's plan for lower mortgage rates with my proposal to stabilize home prices and we'll really be in business.
Showing posts with label Economic News. Show all posts
Showing posts with label Economic News. Show all posts
Saturday, December 6, 2008
Friday, December 5, 2008
Wednesday, December 3, 2008
Daily Reading: December 3, 2008
I'm sure this comes as no surprise: Private employers were cutting jobs in November. Reuters.
Although it is probably skewed a bit due to declining payrolls, productivity growth is better than expected in the 3rd Quarter. AP.
Mortgage applications rise significantly due to lower interest rates. Not a lot of surprise news today. CNBC.
The pros and cons of less expensive oil. Yes, there are cons to cheap oil. As a matter-of-fact, there are many more cons than pros in the long-term.
Although it is probably skewed a bit due to declining payrolls, productivity growth is better than expected in the 3rd Quarter. AP.
Mortgage applications rise significantly due to lower interest rates. Not a lot of surprise news today. CNBC.
The pros and cons of less expensive oil. Yes, there are cons to cheap oil. As a matter-of-fact, there are many more cons than pros in the long-term.
Tuesday, December 2, 2008
Daily Reading: December 2, 2008
Reuters reports that Ford expects to breakeven by 2011. This ties-in to the discussion of Hope. Hope and reality can be quite divergent.
Goldman can no longer delay the inevitable. Reuters.
The UAW had better become amiable in a hurry, that is if they like having jobs. AP.
We have a monetary system in which the Federal Reserve can create as many U.S. dollars as it wishes and all of the U.S. Treasury debt outstanding is issued in U.S. dollars. In that light, how is it possible for the U.S. Treasury to default on its debt? It doesn't seem possible to me, but apparently some folks think it could happen. Reuters report on the CNBC website.
Wow, the Big 3 CEO's really do want bailout money. They are reducing themselves to automobile travel in the upcoming trip to Washington. AP.
Sears Holdings post poor results. It is hard to believe that, the once revered investor, Eddie Lampert was buying SHLD at more than $100 per share. Maybe he knows something we don't know. NY Times.
Countrywide is being sued by mortgage investors. Mortgage servicers modifying contracts that they do not own sounds like a recipe for disaster. Is it not obvious that legally enforceable contracts is paramount to our economic system? NY Times.
The most shocking headline of the day: U.S. auto sales are down significantly. AP.
The latest asset price bubble: U.S. Treasury Securities. WSJ $$$ Subscription required. If you don't have, at least, an online subscription to the Journal you should get one now.
Goldman can no longer delay the inevitable. Reuters.
The UAW had better become amiable in a hurry, that is if they like having jobs. AP.
We have a monetary system in which the Federal Reserve can create as many U.S. dollars as it wishes and all of the U.S. Treasury debt outstanding is issued in U.S. dollars. In that light, how is it possible for the U.S. Treasury to default on its debt? It doesn't seem possible to me, but apparently some folks think it could happen. Reuters report on the CNBC website.
Wow, the Big 3 CEO's really do want bailout money. They are reducing themselves to automobile travel in the upcoming trip to Washington. AP.
Sears Holdings post poor results. It is hard to believe that, the once revered investor, Eddie Lampert was buying SHLD at more than $100 per share. Maybe he knows something we don't know. NY Times.
Countrywide is being sued by mortgage investors. Mortgage servicers modifying contracts that they do not own sounds like a recipe for disaster. Is it not obvious that legally enforceable contracts is paramount to our economic system? NY Times.
The most shocking headline of the day: U.S. auto sales are down significantly. AP.
The latest asset price bubble: U.S. Treasury Securities. WSJ $$$ Subscription required. If you don't have, at least, an online subscription to the Journal you should get one now.
Monday, December 1, 2008
Daily Reading: December 1, 2008
Saturday, November 29, 2008
Daily Reading
OPEC decides not to cut production YET. Bloomberg.
Consumer spending and the labor market are weak. NY Times.
This Wall Street Journal article helps to explain the purpose of MOS Investor.
GM is trying to come up with a plan. WSJ.
Don't forget to celebrate the 75th anniversary of the repeal of Prohibition this Friday, December 5th. WSJ.
CNBC compiled a list of companies who have announced layoffs.
Consumer spending and the labor market are weak. NY Times.
This Wall Street Journal article helps to explain the purpose of MOS Investor.
GM is trying to come up with a plan. WSJ.
Don't forget to celebrate the 75th anniversary of the repeal of Prohibition this Friday, December 5th. WSJ.
CNBC compiled a list of companies who have announced layoffs.
Friday, November 28, 2008
Thursday, November 27, 2008
Daily Reading
Although I realize nobody is actually reading this, I apologize for not posting yesterday.
This Bloomberg article describes the problem with making decisions based on fear.
This CNBC article discusses the problems baby boomers face because of the stock market crash. Maybe the credit crisis will solve our Social Security problems. Boomers can't retire thus they continue to work and add to the system rather than retire and take from it.
OIL IS NOT GOING TO STAY CHEAP FOREVER!!! Take the appropriate measures to protect yourself.
The AP reports that there is a new source of economic pain.
Things are tough all over, as this CNBC article explains.
Ouch, Fitch cuts Toyota's AAA credit rating. It happened a couple of days ago but I forgot to post it at the time.
This Bloomberg article describes the problem with making decisions based on fear.
This CNBC article discusses the problems baby boomers face because of the stock market crash. Maybe the credit crisis will solve our Social Security problems. Boomers can't retire thus they continue to work and add to the system rather than retire and take from it.
OIL IS NOT GOING TO STAY CHEAP FOREVER!!! Take the appropriate measures to protect yourself.
The AP reports that there is a new source of economic pain.
Things are tough all over, as this CNBC article explains.
Ouch, Fitch cuts Toyota's AAA credit rating. It happened a couple of days ago but I forgot to post it at the time.
Monday, November 24, 2008
Daily Reading
Reading is of the utmost importance to any successful investor. Warren Buffett says to "read everything." As you saw in the Investment Analysis post, we spend a great deal of time reading company specific reports. But it is also important to be aware of general business and economic news.
I am going to have a 'Daily Reading' post, ironically enough, daily. It will contain a number of the articles I feel are appropriate for all investors. I plan to edit the post throughout the day adding new links as I find them. Enjoy.
Citigroup receives government bailout.
A great post by a friend of mine about crude oil.
A Wall Street Journal article about the Federal Reserve's monetary policy tools. $$$ requires subscription.
An interesting take on the current market turmoil.
If you are curious about who is receiving funds from the bailout program, check out this interactive tool from the New York Times.
In this NY Times op-ed, Tyler Cowen, of George Mason University, says that most fiscal stimulus policies will do little to aid economic recovery. I agree and tend to think that most fiscal stimulus policies do nothing more than aid in the re-election efforts of our esteemed members of Congress.
The stabilization of home prices is a critical ingredient for the resolution of our economic woes. But as this CNBC article explains, we aren't there yet.
Before you go buy a new SUV read this CNBC article.
The government is going to spend a lot more money. I wonder where it will come from?
I am going to have a 'Daily Reading' post, ironically enough, daily. It will contain a number of the articles I feel are appropriate for all investors. I plan to edit the post throughout the day adding new links as I find them. Enjoy.
Citigroup receives government bailout.
A great post by a friend of mine about crude oil.
A Wall Street Journal article about the Federal Reserve's monetary policy tools. $$$ requires subscription.
An interesting take on the current market turmoil.
If you are curious about who is receiving funds from the bailout program, check out this interactive tool from the New York Times.
In this NY Times op-ed, Tyler Cowen, of George Mason University, says that most fiscal stimulus policies will do little to aid economic recovery. I agree and tend to think that most fiscal stimulus policies do nothing more than aid in the re-election efforts of our esteemed members of Congress.
The stabilization of home prices is a critical ingredient for the resolution of our economic woes. But as this CNBC article explains, we aren't there yet.
Before you go buy a new SUV read this CNBC article.
The government is going to spend a lot more money. I wonder where it will come from?
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