The currencies are still in rut versus the dollar this morning. They haven’t lost more ground, just stuck in a rut. The euro (EUR) should have gained on the news that Spain was able to auction bonds this morning and meet their target, while France sold bonds and saw their yields drop. These two auction results should have eased the minds of those fearing the eurozone countries will struggle to finance their borrowings — at least for now.
[Read more...]Is It Time to Buy a House?
May 1, 2012 By Leave a Comment
Is it time to buy a house? Maybe…
This morning we received a bouquet of flowers. It was from the woman who just sold us a house in Baltimore. She sent the flowers to say ‘thanks.’
“We must have paid too much,” we said to Elizabeth. ”She likes us. She probably figures she was lucky to find such retarded buyers.”
[Read more...]Is It Time to Buy a House?
May 1, 2012 By Leave a Comment
Is it time to buy a house? Maybe…
This morning we received a bouquet of flowers. It was from the woman who just sold us a house in Baltimore. She sent the flowers to say ‘thanks.’
“We must have paid too much,” we said to Elizabeth. ”She likes us. She probably figures she was lucky to find such retarded buyers.”
[Read more...]The Burgeoning Scam Market
April 26, 2012 By Leave a Comment
“Monetary policy cannot fulfill each and every market expectation.”
So said the head of the Bundesbank, Jens Weidmann.
Why not, investors want to know.
Mr. Weidmann was talking to The Wall Street Journal. He was explaining why Germany was sticking to its guns. They don’t use that expression in Germany. But you know what he meant.
[Read more...]How Employment and Economic Growth are Hindered by Politics
April 25, 2012 By Leave a Comment
Nothing special in yesterday’s financial news. So let’s turn from farce to fraud…that is, to politics.
President Obama has to defend his policies, pretending that they have brought a real recovery. One of the pillars of his case, say the papers, is that unemployment has gone down.
[Read more...]Calls for QE3 on Disappointing Jobs Data
April 9, 2012 By Leave a Comment
Good day. It was a picture-perfect day here in St. Louis yesterday for our Easter celebration. It’s not often we can do that outside, but outside is the only place you would want to be yesterday! The grandkids were all dressed for the occasion, and they all looked as cute as can be.
Well, the jobs jamboree sure wasn’t cute on Friday. In fact, it bordered on ugly. You may recall that going into Friday’s jobs report, the ADP report on Thursday said the economy added over 200,000 jobs in March, and that the “experts” had forecast an increase in jobs of 205,000.
[Read more...]Risk Assets Trade in a Tight Range
April 6, 2012 By Leave a Comment
Good day. And a Happy Friday to one and all! It’s Good Friday for those of us that observe it that way. Good Friday for the markets means that the stock jockeys have headed to the Hamptons already, and the bond boys and girls will close up shop early today, so they can get a head start on getting out of town, too.
[Read more...]
Central Banks Get Weaker Currencies
The currencies are still in rut versus the dollar this morning. They haven’t lost more ground, just stuck in a rut. The euro (EUR) should have gained on the news that Spain was able to auction bonds this morning and meet their target, while France sold bonds and saw their yields drop. These two auction results should have eased the minds of those fearing the eurozone countries will struggle to finance their borrowings — at least for now.
[Read more...]