Newsclips
Cartoons
October 8, 2013
None Today
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Fox News – ‘Fox News Sunday Transcript With Jack Lew MR. WALLACE: that, what’s the likelihood that a default would be catastrophic? SEC. LEW: Look, Chris, the good news is, there’s a majority in Congress that’s ready to do the right thing, that’s ready to vote to reopen the government — MR. WALLACE: I’m asking… Continue reading Regarding Default
The Wall Street Journal – U.S. Shutdown Creates Investment Opening Money Managers See Stock Selloff as Buying Opportunity As they sift through the Washington mess, some money managers think it could be a blessing, at least for their investments. With the government shutdown heading toward a second week, economists say it could hold back economic… Continue reading Investing Throughout The Shutdown
The Wall Street Journal – Betting on a U.S.-Debt Doomsday Budget Showdown Has Traders Crowding Into Derivatives That Pay Off if the Federal Government Defaults Traders on Friday were asking about €41,165 ($56,060) annually to cover €10 million of U.S. Treasurys for five years, according to data provider Markit, and €53,750 to cover the same… Continue reading U.S. CDS On The Rise
The Wall Street Journal – Boehner Ties Deal to Talks on Debt House Speaker John Boehner (R., Ohio) said Sunday he wouldn’t bring up bills to fully reopen the government or increase the country’s borrowing limit unless Democrats agree to broader talks aimed at trimming the deficit. The speaker insisted he couldn’t muster enough votes… Continue reading Political Posturing Continues
Real Time Economics (WSJ Blog) – Here’s What Jobs Report Would Have Said 156,000: The numbers of jobs added in September, according to an amalgamation of several private sources of labor market data. Like the National Zoo’s panda cams, the Bureau of Labor Statistics‘ jobs report was a victim of the government shutdown. Absent the… Continue reading Guessing The Non-Essential Payroll Number
The Wall Street Journal – Dow’s Exiles Often Have Last Laugh If past trends hold true, though, this may be a good time to buy Alcoa and fellow Dow refugees. A study by three researchers in Pomona College’s economics department shows deleted stocks sharply outperform those added. Over five years following an index change, they… Continue reading Betting On The Dow’s Exiled Stocks
The Wall Street Journal – Buffett’s Crisis-Lending Haul Reaches $10 Billion Billionaire Warren Buffett tossed lifelines to a handful of blue-chip companies during the financial crisis. Five years later the payoff on those deals is becoming clear: $10 billion and counting. Mr. Buffett approached that figure after he collected another hefty payment last week, bringing… Continue reading Saint Warren
The Blaze – The Shutdown Has Closed This Important Market Regulator – And It Could Prove to Be Serious Congress’ inability to come to an agreement on a short-term spending bill caused the U.S. government to shut down Tuesday, forcing it to close, among other things, the U.S. Commodity Futures Trading Commission (CFTC). This could… Continue reading The CFTC Is Deemed Non-Essential During Shutdown
Comment Jim Bianco was on CNBC yesterday discussing the debt ceiling and the US credit rating. To view the interview, click on the image above. To view any of our recent interviews, click here. As we noted in the interview above and detailed yesterday, the Treasury takes in $150 billion a month in taxes and… Continue reading Will The US Default (No!)
[hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/100313.flv” width=”600″ height=”495″ description=”” player=”3″ autoload=”false” autoplay=”false” loop=”false” autorewind=”true” splashimage=”https://www.biancoresearch.com/bianco/wp-content/themes/twentyten/images/splash.jpg” /] Audio [audio:https://www.biancoresearch.com/bianco/SubscriberArea/Bianco%20FULL%20AUDIO%20100313.mp3|titles=Conference Call ] Comment The video and audio above are from our internal conference call yesterday. In the first half we discussed why the government is polarized and how this fight was predictable. The story below says much the same thing. Despite… Continue reading Why Are We Having This Political Fight?