Posts under ‘The Fed’

The Fed has backed itself into a corner and has little choice other than the politically unpopular monetization of debt in order to stimulate the economy.

Euro jitters sppoked the markets early. Bank deposits hit a new record near 10 trillion as the public looses faith in real estate and the finacial markets.

Stocks surged during the week but remain negative year to date. The TIC report is negative for a 3rd month in July. Household net worth continues to fall.

Import prices fall again on lower energy costs. Poverty hits a record 46.2 million people. CoreLogic reports 22.5% of mortgages have negative equity.

Stocks tank again. Mortgage interest rates hit a record low. The stratification of society gets worse, Solyndra looks to become a poster child for govt waste.

Q 2 GDP gets cut to just 1%. Bernanke expects it to pick up in the 2nd half, don’t hold your breath. More stimulas but no QE 3, will see how long that lasts.

The Richmond Fed drops 9 points to -10. New home sales and prices fall in July. Wall St. doesn’t invest its own money like its clients. Blankfein lawyers up.

Mixed economic data to begin the week. The muck slinging involving the credit ratings agencies continues. The banks actually got 1.2 Trillion in bailouts.

Stocks plunged again on fears of a double dip after disappointing economic data. The Justice Dept investigates S&P over its MBS ratings, better late than never.

Reg FD encourages companies to beat the number, in collusion with the analysts. Rolling Stone alleges institutional corruption at the SEC encouraging fraud.