Real Time Economics – Did Poor Math Skills Cause Subprime Meltdown? Economists Kristopher Gerardi, Lorenz Goette and Stephan Meier tracked down subprime mortgage borrowers who took out loans from January 2006 to August 2007 and asked them to participate in a survey, assessing their numerical ability, financial literacy, verbal skills and cognitive ability. Borrowers who… Continue reading Did Poor Math Cause The Credit Crisis?
Comment We received this video secretly taken at one of the largest London brokers discussing the markets.
Comment On Friday afternoon James Bullard was interviewed regarding his dissent at this week’s FOMC meeting: The Washington Post – Neil Irwin and Ylan Mui: James Bullard: This is why I dissented at the Fed meeting this week Neil Irwin: Is that correct? Is this a more hawkish Fed today than it was a week… Continue reading The Federal Reserve Is A Confused Mess
The Wall Street Journal – Jon Hilsenrath: Fed Is Toiling in Vain to Calm Jittery Markets The financial markets’ violent movements this week underscore the immense challenge the Federal Reserve faces as it eyes an eventual end to its $85 billion-a-month bond-buying program. After trying for years to lift a postcrisis economy with a concoction… Continue reading More On The Federal Reserve
The Financial Times – Central banks told to head for exit Central banks must head for the exit and stop trying to spur a global economic recovery, the Bank for International Settlements has said following a week of market turbulence sparked by the US Federal Reserve’s signal that it would soon cut the pace of… Continue reading The BIS Warns, Cheap Money Does Not Work
<Click on chart for larger image> The Financial Times – China stocks fall into bear market territory Chinese stocks suffered their worst day in more than three years on Monday, falling into bear market territory as concerns about the country’s financial sector continued to weigh. The Shanghai Composite index sank 5.3 per cent to close… Continue reading China’s Bear Market
The Wall Street Journal – All About the Maos: Charting China’s Cash Crunch The repercussions of higher rates are already being felt across China’s financial sector. In the corporate bond market, yields at the short end of the curve have surged as investors sell off their holdings to raise cash. The yield on AAA rated… Continue reading China’s Fund Crisis Continues
Bloomberg.com – Holding Bankers Who Behave Badly Personally Accountable Five years after the world’s financial system began melting down, consumers, homeowners and taxpayers — that is, pretty much anyone who isn’t a bank executive — remain frustrated that no banking bigwigs went to jail. The reasons are many: Specific misdeeds couldn’t be pinned on higher-ups;… Continue reading Punishing Banksters
The New York Times – Roger Lowenstein: The Federal Reserve’s Framers Would Be Shocked ONE hundred years ago today, President Woodrow Wilson went before Congress and demanded that it “act now” to create the Federal Reserve System. His proposal set off a fierce debate. One of the plan’s most strident critics, Representative Charles A. Lindbergh… Continue reading The Federal Reserve 100 Years Ago
Bloomberg.com – Fed Monetary Course Difficult for a Bernanke Successor to Alter Bernanke’s second four-year term as chairman ends on Jan. 31. While neither he nor the White House has said definitively that he’ll step down, President Barack Obama suggested just that in a television interview last week, saying the Fed chief had stayed in… Continue reading Good Luck Janet
MarketWatch – 7 mutual fund ads you’ll never see
[hana-flv-player video=”https://www.biancoresearch.com/bianco/SubscriberArea/062013.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/781467-702769.mp3|titles=Conference Call ] Comment We discussed the Federal Reserve and the markets in detail in an internal conference call yesterday, to watch the webcast click on the image above. To listen to the conference call, click on the player above. In his… Continue reading Discussing The Markets And the Federal Reserve