Posts from ‘January, 2010’

Stocks enter the final hour with modest losses despite a much stronger than expected GDP report. Since Monday the DOW has given up about 40 points or a little less than ½% while the NASDAQ has slipped more than 50 points or some 2.5%. The ongoing testimony involving Timothy Geithner and others involving the bailout [...]

Stocks fell from the open despite little significant news. Durable goods orders increased .3% in December, a volatile series the proxy for business spending, non-defense capital goods ex-aircraft, fell 2.2% though the rate of decline has fallen sharply. Businesses just aren’t investing, as overcapacity remains compliments of the credit bust. The Chicago Fed national activity [...]

The hypocrisy and BS from the bank bailouts and credit bust fiasco grows deeper by the day. Despite assurances that the Fed Chairman would remain free from political influence and I quote; “I will be strictly independent of all political influences.” Mr. Bernanke makes the rounds to kiss the hands of no less than 18 [...]

Stocks struggled from the open and enter the final hour with modest losses. Treasury Secretary Timothy Geithner’s feet are being held to the fire today regarding the NY Fed’s role in the AIG bailout during his governorship. Things aren’t going well for the Treasury Secretary as it appears his handling of the matter left a [...]

The banksters would be unemployed had we not bailed them out, yet they refuse to change, once again Elizabeth Warren tells it like it is. The Daily Show With Jon Stewart Mon – Thurs 11p / 10c

Stocks moved steadily higher after a rough opening on mixed news. The Case/Schiller 20-city home price index fell at an annualized rate of 5.3% in November continuing the trend of a slower rate of annualized house price decline seen over the last 10-months, from October prices increased .2%. Some notable standouts from the previous month [...]

Stocks hold modest gains into the final hour despite a disappointing existing home sales report that saw a much larger than expected drop of 16.7% to 5.45 million units annualized. Inventory increased to 7.2 months while the median price fell 12.4% last year worse than the 8% decline in 2008 and registering the largest annual [...]

If the world were in equilibrium, with debtors carrying the equilibrium level of debt, all markets clearing, and all debts being repaid, this neoclassical conclusion would be true. But in the real world, when debtors have taken on excessive debt, where the market doesn’t clear as it falls and where numerous debtors default, a debt-deflation [...]

Stocks struggled to finish the week and have now moved into the red for the year. Since Monday the DOW has lost about 300 points or some 3% while the NASDAQ has given up about 50 points or a little over 2%. Reports are circulating on ABC and other outlets that the Senate doesn’t have [...]

Stocks fell sharply in morning trade despite little real news. Sometimes it is the seemingly innocuous events such as the Democrats Massachusetts election loss that is the catalyst for large shifts in perception and by implication the markets. In economic news the Conference Boards Index of Leading Economic indicators gained 1.1% in December. The Philadelphia [...]