The Reformed Broker gets all Sciencey on us:
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[...]David R. Kotok co-founded Cumberland Advisors in 1973 and has been its Chief Investment Officer since inception. He holds a B.S. in Economics from The Wharton School of the University of Pennsylvania, an M.S. in Organizational Dynamics from The School of Arts and Sciences at the University of Pennsylvania, and [...]
Ben the Bartender is working the after hours party as the Fed will keep rates at “exceptionally low levels…for an extended period.” Also with respect to inflation, the commentary is identical to the Sept 23rd meeting which is highly dovish, this even as gold is at a record high, the [...]
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Let’s see what the Fed Release does to this rally . . .
The key line is:Â “Exceptionally low rates for extended periods of time…”
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[...]Dylan Outlines the 4 Steps to Fix the Banks….
Visit msnbc.com for Breaking News, World News, and News about the Economy
November 2, 2009
“My dear sir, the Treasury order is popular with the people everywhere I have passed. But all the speculators, and those largely indebted, want more paper. The more it depreciates the easier they can pay their debts… Check the paper mania and the republic is safe and [...]
Track and see more details on bank failures since early 2008.
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Source:
When Bad Banks Sink Good Ones
ROBIN SIDEL
WSJ, NOVEMBER 3, 2009
http://online.wsj.com/article/SB125720151735123867.html
Ahead of the 2:15pm FOMC statement, the implied inflation rate today in the 10 yr TIPS is rising to 2.08%, matching the highest level since Sept 1st ‘08 when the fed funds rate was at 2%. Of course much has changed since with the economy but it highlights the dilemma [...]
The ISM services index was a touch below expectations at 50.6 vs forecasts of 51.5 and it’s down from 50.9 in Sept. Business Activity did rise a hair to 55.2, the highest since Oct ‘07. Unlike the rise in the employment component in the ISM manufacturing report, services employment fell [...]
ADP said the private sector shed a net 203k jobs in Oct, a touch more than expectations of a drop of 198k. It is though the smallest amount of job losses since July ‘08 but is now running 21 straight months. Sept was revised up by 27k to a loss [...]
On Tuesday, the 2nd most emailed article on WSJ.com was Crisis Compels Economists To Reach for New Paradigm.
It is an intriguing look at the problems of the the field of economics. It went, however, way too easy on both the profession and its practitioners. The article fails to [...]
As a parent, the easiest thing to do is say yes to the kids and give them what they want. What’s harder is to say no and instill some discipline. The Fed faces a similar issue today in deciding when to say no to extraordinarily easy money. Ben’s in a [...]
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A political bombshell exploded in the US last night. While the largest impact is on Democrats, there were clear warning shots fired at GOP nabobs.
New York Mayor Michael Bloomberg spent over $100 million to retain his office; but he only procured 51% of the votes. Polls gave [...]
Fascinating discussion:
“Thus an idea that the U.S. banking industry has learned to hate moved a giant step closer to reality. The creation of a consumer protection agency is part of the Obama administration’s plans to enact the most wide-ranging financial regulations since the Great Depression.
Following the 1999 decision to overturn [...]
Peter Boockvar, Barry Ritholtz, David Kotok, Prieur du Plessis, David Rosenberg, John Mauldin, Guest Author, Jim Welsh, Marion Maneker, Tim Iacono, Ed Harrison, Michael Panzner, Chris Whalen, James Bianco, Invictus, Bill King, Edward Harrison, lakshman, Rick Ambrose, Kent Thune
