It is the Year of the Rat in China. Perhaps they could change that to the Year of the Dog so that it would be in keeping with the general mood. One of the hopes of the US car companies is that China, the world's second largest auto market after America, would keep up double-digit vehicle sales growth. An economy with 10% GDP increases and a ballooning middle class had to be the salvation of the...
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The Obama team has owned up to the fact that aiding the crippled economy will put the US budget into a trillion dollar deficit. It has gone so far as to say that the spending could go beyond that this year. All along the watch tower, analysts are looking and opining about whether the money will hit the economy too late, too soon, or just right. No less of an economist Einstein than Paul Krugman...
Back in those sweet, sweet college days, a small group of friends came up with a category of people we weren't terribly fond of.* We called 'em "parade rainers," and their crimes against our sensibilities typically took the form of finding something negative to say about, some set of caveats to offer concerning, some form of doubt or discounting to apply to somebody else's success. It...
Back on December 8th I noted that 'the probability of a very dramatic rally in equity markets of 20% in coming weeks is high and rising, taking the Dow over 10,000 again' and I stand by that view, implying up to 1100 on the S&P. The mountain of cash on the investment sidelines (about $8.8trn) earning a minimal return in Treasuries and money market funds as the Fed cudgels conservative, prud...
The U.S. dollar remains on the defensive against the euro and other major currencies Wednesday, taking back some of its recent gains on concerns about the U.S. economic outlook, analysts say.
The markets rose yesterday but the Dow was well off its highs of the day and I see a trend forming over the past few days I wanted to point out. I noticed the triple top today and tweeted about it a few minutes after 3pm est, because I didn’t have time to do a post as the last hour is my busiest. The ease of Twitter is brilliant.I also opted to cash out of my longs in the event we do have...
Euro Finds Support On Dollar Weakness, Despite Historic Drop In Producer Prices
Wed, Jan 7, 5:07 AM ET
The Euro would reach as high as 1.3627 on the back of broad based dollar weakness despite an increase in German unemployment and the biggest drop in producer...
Filed under: Economic data, Financial CrisisPresident-elect Obama is telling the public that the US may run a trillion dollar deficit to bailout the economy. According to The New York Times, he made the point that Americans for the unparalleled prospect of "trillion-dollar deficits for years to come," a stark assessment of the budgetary outlook that he said would force his administration to imp...
Hello everybody and welcome! No more to add about what happened yesterday, as you can read last hours post. Dollar is loosing ground yet German Unemployment rose 18 K over the month bringing the jobless rate to 7.6%, seems the economic slowdown has started to reach the labor market there. Today we only have to pay attention to the ADP in the U.S. a private survey ahead of this Friday Non Farm P...
Filed under: JPMorgan Chase (JPM), Bank of America (BAC)Ken Lewis followed the lead of many other bank CEOs. The head of Bank of America (NYSE:BAC) will take no bonus for last year. BAC will also miss its financial forecasts for 2008. There is still a very substantial question about how bank boards handled the credit crisis and the M&A deals some large firms did in the wake of the trouble. ...