The Financial Times – Lawrence Summers: The world is stuck in a vicious cycle If the global economy was in trouble before the annual World Bank and IMF meetings in Tokyo last week, it is hard to believe that it is now smooth sailing. Indeed, apart from the modest stimulus provided to the Japanese economy… Continue reading Scary Talk From Names You Know
The New New York Times – Romney’s Go-To Economist Succinct, authoritative and unabashedly partisan. Leave aside that most economists see a vast difference between the recessions of the ’70s and ’80s and the crisis that began in 2008. This was exactly the sort of performance Mr. Hubbard has been delivering for the Republican candidate, both… Continue reading Romney’s Economist
The Wall Street Journal – Global Finance Chiefs at Odds Officials Disagree at IMF Meeting Over How Best to Resolve Economic Crisis A weekend gathering of the world’s top finance officials deepened conflicts among some of the largest economies, raising fresh doubts about their ability to find big steps quickly to boost the flagging global… Continue reading Confusion And Defense Over Federal Reserve Policy
Barron’s – Cover Story: Almost There At 13,329, the Dow Jones Industrial Average is in striking distance of an all-time high, driven by IBM, Home Depot, and McDonald’s. How it could get there, and what comes next. There’s an old saying that the stock market climbs a “wall of worry,” and that’s never been truer… Continue reading A Cover For The Contrarians
The New York Times – High-Speed Trading No Longer Hurtling Forward The hottest new thing on Wall Street is cooling down. High-frequency trading firms — the lightning-quick, computerized companies that have risen in the last decade to dominate the nation’s stock market — are now struggling to hold onto their gains. Profits from high-speed trading… Continue reading Is HFT Losing Its Luster?
Comment Monday we will publish the transcript. Audio (mp3) replay: [audio:https://www.biancoresearch.com/bianco/SubscriberArea/503842-636339.mp3|titles=Conference Call] Handout: [pageview class=”PDFViewer” url=”https://www.biancoresearch.com/bianco/wp-content/plugins/PDFViewer/plugin.php?id=96″]
Comment Jim Bianco was on CNBC yesterday questioning if a Romney presidency might lead to a more hawkish Fed and thus be bad for risk-on markets. We detailed this yesterday. To view the interview, click on the video above. To view any of our recent interviews, click here. Business Insider – What Romney Will Do… Continue reading Will Romney End QE3?
Business Insider – Darrell Issa May Hold Congressional Hearings On Last Week’s Jobs Report Rep. Darrell Issa, chair of the House Oversight Committee, told Fox News on Wednesday that he would look into holding congressional hearings on September’s non-farm payroll report, which saw the unemployment rate drop to 7.8 percent last week. Fox Business reported… Continue reading More On Last Week’s Unemployment Rate
<Click on chart for larger image> The Financial Times – Iranian oil output at lowest for 23 years Iranian oil production has plunged to its lowest level for more than two decades because of the impact of US and European sanctions, the International Energy Agency has said in a report that highlights the growing economic… Continue reading Iran And Oil Prices
Reuters.com – Plosser worries Fed could face losses on assets When the Federal Reserve eventually begins to sell some of the assets it has accumulated over the last few years it risks logging losses if longer-term interest rates are rising, a top central bank official said on Thursday. Bloomberg.com – Plosser Says 2015 Fed Rate… Continue reading Yet Another Federal Reserve Dissenter Speaks
Business Insider – Now There Is One Reason You Have To Take Jack Welch’s BLS Manipulation Conspiracy Theory Seriously Jack Welch made himself look ridiculous last week, claiming that the Chicago guys in The White House had manipulated the unemployment rate downward. He dug the hole even deeper last night, when he said in the… Continue reading More On Jack Welch’s “Expertise” In Manipulated Numbers