Weekly Economic & Market Review
The consensus view of the recently announced European fiscal deal is that it was a failure and indeed there are a lot of problems with the agreement. First of all, it isn’t really a deal yet. There are still a lot of details to negotiate and it will still need to be approved by the .. read more
Markets Today – Central Banking, Liquidity Provisions and Quarter-End Accounting
This week should be very interesting. The theme today is the ECB followed by the Fed, the BOE and BOJ. Let’s just call it as we see it, the world banking system is in the middle of a liquidity problem. This is stemming from stresses in the European banking sector caused mainly by governments that .. read more
Contrarian Alert
I hope everyone had a fine week. This week’s roller coaster ride tested the most seasoned investor’s fortitude. Europe sat center stage. The news each day was not just significant for markets. This week may be etched in history books as a defining moment for Europe. Here’s what took place. On Monday, we open with a .. read more
Rant of the Day – Whirlpool fires 5000 Employees
On behalf of citizens: Hey Mr. Obama, We need jobs! Mr. Bernanke you’re not helping either! The first headline I read this morning: Whirlpool to fire 5000 employees. Our economist John L. Chapman has been pleading for less costly regulation since coming aboard back in the summer. This administration has a central ideology which, in practice, imparts .. read more
Weekly Economic and Market Review
ADP told us last Thursday that the US economy produced 157,000 new jobs in June. The Bureau of Labor Statistics told us on Friday that the US economy produced only 18,000 new jobs in June. Which one is right? ADP counts private sector jobs by looking at data collected from the 500,000 payrolls it processes .. read more
Weekly Economic and Market Review
“We don’t have a precise read on why this slower pace of growth is persisting.” Ben Bernanke at his press conference last week following the FOMC meeting. That was – by far – the most important statement to come out of the post FOMC press conference last week. Bernanke finally had to admit that he .. read more
Weekly Economic and Market Review
In the absence of much economic data last week and little that could be interpreted positively, stocks sold off and investors retreated to the comfort of the bear den. Sentiment has eroded rapidly in this slow motion correction but there has yet to be a climactic selling event which normally marks a bottom. The American .. read more
Weekly Economic And Market Review
Well, that was easy. Apparently all that is required to get a market correction really going is for me to write something even a little bullish. In last week’s update I wondered if I’d been worrying too much about the various problems facing the world economy. After the Memorial Day holiday, the market finally started .. read more
