Wall Street suffered its first reversal in eight days yesterday. The Dow dropped a modest 7 points. For its part, gold rose $1.30 and the dollar fell. More importantly, the latest news is that inflation rates continue to fall. Producer prices went down 0.8% in the last two months – and the rate of decline [...]
Flip ’em on the way up… Flop ’em on the way down… Subsidize ’em on the way up… Subsidize the subsidizer on the way down… Bloomberg News: Banks Face Short-Sale Fraud as Home ‘Flopping’ Rises June 10 (Bloomberg) – Two Connecticut real estate agents found a way to profit in the U.S. housing bust: Buy [...]
Back in the USA, it’s still fat city. Thanks to fear of European debt, the waiters are bringing the sundaes to the US. And here’s our own Number One ice cream salesman – Tim Geithner – in Europe. He was in Berlin on Thursday. What flavor was he pushing onto the Germans? Tutti Frutti! He [...]
Probably the strangest things of all are the conclusions and advice given by some of the smartest economists in the business. We mentioned it on Friday. But our mouth is still open and our eyes are still glazed. In the run-up to the crisis of ’07-’09, almost everybody made mistakes. The spenders spent too much. [...]
“The US is insolvent,” says a report from a hedge fund. As of the third quarter of last year, the federal government had assets of $2.67 trillion and total liabilities of $14.12 trillion. That leaves a net negative position of more than $11 trillion. By the way, this is projected to get a lot worse, [...]
The Dow rose 150 points yesterday. We’re not sure what to make of it. Does it mean we were wrong about the beginning of the end? Are we still in the middle? Or is our whole theory wrong? Hold your horses, dear reader. We’ll have to wait to find out. The papers attributed the big [...]
Last August, it was reported that deflation in Japan had reached a new record. Prices were dropping at the fastest pace 38 years. By November, it was duration, rather than depth, that got the press’s attention. Prices had been going down for 10 months in a row. Then, last week an update: “Japan Deflation Hits [...]
Here’s a mystery: Homeowner defaults. Not that there are so many…the mystery is why there are so few… In Nevada, for example. Two out of three homeowners are underwater…which is hard to do in the desert. Some of them owe hundreds of thousands of dollars on something that doesn’t exist anymore – the equity on [...]
Snowy Sweden had its own banking crisis in the 1990s, but due to extensive bailouts emerged relatively unscathed… well, aside from rampant nationalizations and socialistic tendencies. Sound familiar? Now, another hot idea from that same ice kingdom is catching on in the US. In 2009, in order to “protect” lenders, Sweden put a stability fee, [...]
Thursday saw a second successive day, when a majority of stocks showed resistance at current level, and Dow ended up with a more than 200 points loss of over 2%. Even the S&P 500 index also remained weak throughout the day, and pared 1.89% in the session. The news relating to Chinese strategy of tightening [...]
The chairman of Congress’ Financial Services Committee has his own take on the president’s reform plans. Plus, a call on regional lenders. Original Source >>>
The stocks of the credit crisis’ worst players have zoomed, but responsible lenders like Hudson City see their shares stall. Cramer asks the CEO to explain. Original Source >>>
Gold rose $15 yesterday. What to make of it? Perhaps it was because Ben Bernanke’s extended his “extended period” pledge? He said, in effect, if this economy doesn’t come out of its slump, it won’t be his fault. He’ll keep monetary policy as loose as possible for as long as possible. Not that we had [...]
What happened in the gold market yesterday? The price of the yellow metal held steady. So what do you do? Is this the dip you should buy? Well, as we keep saying…it depends. A few months ago, our view was simpler. We trusted gold because we didn’t trust central bankers. We still trust gold. And [...]
On October 7th, we published this article that links to a list of 463 troubled banks. One of the institutions where I personally held a money market account was on the list. Taking my own advice I promptly closed the account. Today, as the number of bank collapses reaches an even 130, I feel a [...]
Governments are running breathtaking deficits…and accumulating alarming debts. Japan has a national debt of nearly 200% of its GDP. Where did that debt come from? It came from 20 years of trying to buy its way out of a slump with borrowed money. Of course, it didn’t work. But now, Britain and America are following [...]
Posted By:Tom Brennan Right now up is down, north is south and responsible lenders are…bad? Read More Topics:CEOs and CFOs | Stock Picks | Stock Market Sectors:Financial Services Companies:Hudson City Bancorp, Inc. Permalink Original Source >>>
