Global Market Commentary, Analysis and Investments
Too bad Thomas Friedman has stopped writing about the economy. We could use a good laugh this morning. Chilly winds are blowing across this part of France. The children have all gone. The sun is low and cool. It's quiet here, and a bit sad.
But Friedman has moved on to giving bad advice on other subjects.
[Read more...]The stock market is rolling over. The Dow went down 133 points yesterday. Gold gained $4.
Stocks went down early in the summer. We thought that was the beginning of the big “second shock? we've been waiting for. But we were wrong. The stock market rebounded.
But now it is back at its July lows…and appears ready to keep going down.
[Read more...]Peter Schiff of Euro Pacific Capital notes that the Federal Reserve, and the idiots like Paul Krugman who genuflect at the altar of Keynes, is not done with destroying the economy, but that “Bernanke and his supporters have said that their stimulus will be withdrawn as soon as the recovery takes hold in earnest.? Hahaha!
[Read more...]As Wall Street's big money players return from the Hamptons in the coming weeks, they will have to reassess the earnings power of their portfolio companies. Last week, Staples confirmed the message we heard from Office Depot and Office Max: the small business sector as a whole isn't very healthy. Disappointing earnings from Dell dampen the mood even further.
[Read more...]The United States experienced another interesting first on Wednesday. For the first time in the history of our union, the Securities and Exchange Commission brought charges against a State. The powers that be in New Jersey had been deceiving and misleading investors in regards to the fiscal well-being of the Garden State, and the SEC busted 'em. Bravo.
[Read more...]“DJIA Plunges 225 Points in Global Sell-Off…?
“VIX Surges…?
“US Trade Deficit Unexpectedly Widens, Exports Decline…?
The news is neither good nor bad this morning. It just is. Fellow Reckoners are advised to interpret it accordingly.
To the cheers of some and the tears of others, stocks appear to be gripped in a downward spiral today. The Fed's medicine went down like a bucket of KFC at a Miss Universe pageant, yesterday – which is to say temporarily, at best…and with immediate, violent regret.
[Read more...]Inviting a little bit of government policy to interact with private enterprise is like inviting a little family of rats to interact with a bakery. Before long, you've got more rat droppings than chocolate sprinkles atop your cupcakes. And that's just the beginning…
Every day, the rats are more numerous, more rotund…and more brazen. Every day, fewer baked goods make it from the oven to the display case. Eventually, the baker is in business to feed the rats…and there is nothing he can really do about it.
[Read more...]“You can take your loans and shove them,? the Hungarian economic minister, György Matolcsy, did not say. But that's what he was thinking. Watch out. The Hungarians are trendsetters. They ran a budget deficit of 9% of GDP back in 2006. They got a $20 billion bailout in 2008 and have been living with austerity measures ever since. The current budget is only in deficit by 3.8% of GDP – barely a third of the US level.
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What to Expect from Second Quarter GDP
The currencies are trading in the same clothes as yesterday. It's almost like the movie Groundhog Day, for the euro (EUR) has performed the say way as the previous sessions… For instance, the euro rose up to 1.2765 yesterday, only to fall back to just above 1.27, and then overnight, like the previous night, the euro rose to 1.2740, only to see it fall back again.
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