201007.30
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Don’t Go Crazy

Will Wilkinson on countercyclical economic policy: They’re talking about financial crises in particular, but I suspect the same holds for recessions generally. As long as the government doesn’t do anything spectacularly stupid or crazy, we’ll return to trend. Policy so far has been only mildly stupid and not crazy. The heated arguments between competing camps…

201007.25
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Weekly Chart Review

Gold and stocks are trading in patterns that are nearly perfectly inverse. Gold may be peaking and stocks may be making a bottom. If that turns out to be true, I would take it as a very positive sign for the economy and the stock market.

201007.25
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Weekly Economic and Market Review

Some not as bad as expected news on the real estate markets, some pretty damn good earnings, a Bernanke assurance that he remains vigilant at the controls of the printing press and the release of the results of the European bank stress tests were enough to move the US stock market higher by 3.5% last…

201007.18
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Weekly Economic and Market Review

The economic reports last week continued the trend of reports showing a drop off in growth. Worse actually since several of last week’s reports were just plain bad and indicated outright contraction rather than just a reduction in growth. The market held up fairly well until Friday as good earnings offset bad data, but by…