Propublica – The Bailout: By The Actual Numbers Quick, how many billions in the red are taxpayers on the bailout of GM? AIG? Fannie and Freddie? Is it true that the government has reaped a profit from bailing out the banks? It should be easy to find answers to such questions. But while it’s a… Continue reading Counting The Bailouts
Reuters – China Sounds Alarm on Global Economy at APEC Summit China sounded the alarm about the state of the global economy on Saturday and urged countries gathering at an Asia-Pacific summit to protect themselves by forging deeper regional economic ties. Chinese President Hu Jintao said his country would play a role in helping deepen… Continue reading China Continues To Struggle
The New York Times – Searching for a Speed Limit in High-Frequency Trading TICKER tape: it’s an enduring image of Wall Street. The paper is gone but the digital tape runs on, across computer and television screens. Those stock quotations scurrying by on CNBC are, for many, the pulse of American capitalism. But Sal L.… Continue reading HFT
<Click on chart for larger image> The Financial Times – US companies gloomy about earnings growth Corporate America is more pessimistic about the prospects for short-term earnings growth than at any time since the start of the financial crisis, as a slowing global economy weighs on demand for US companies’ goods and services. Even as… Continue reading Earnings Continue To Look Poor
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CNBC – Most Hated Stock-Market Rally in Years Goes On The most hated stock market rally in years continues. S&P 500 hits multiyear high — anger and frustration hit multiyear highs. (Read more: Stocks Near Highs, Nasdaq Up 2%; Vix Near 16) S&P 500 at 4.5-year high, Healthcare and Consumer Discretionary (mostly retail and home… Continue reading Is This Rally Hated?
Comment Jim Bianco was on Bloomberg Asia TV yesterday discussing the ECB and the payroll report. To view the interview click on the image above. To view any of our recent interviews click here.
Spiegel (Germany) – No Limits: ECB President Draghi Reaches for the Bazooka European Central Bank President Mario Draghi has taken a bold step this week to contain the euro crisis. The ECB is now planning unlimited bond purchases in order to prevent an escalation of the euro’s woes. The step marks a fundamental shift in… Continue reading More Discussion Of Draghi’s Bond Buying Program
Bloomberg.com – Draghi Lured by Fractious EU Leaders to Build Euro 2.0 The European Union’s 19th crisis summit was winding down when European Central Bank President Mario Draghi made an unusual request. He wanted some alone time with EU President Herman Van Rompuy to thank him for charting the path toward a shock-proof euro zone.… Continue reading Is Draghi Building A New Europe?
<Click on chart for larger image> <Click on chart for larger image> Bloomberg.com – China to Build New Roads, Subways to Boost Economy China approved plans to build 2,018 kilometers (1,254 miles) of roads, spurring the biggest stock- market rally in almost eight months on signs the government is stepping up stimulus efforts to revive… Continue reading China Stimulates
The New York Times – Hiring Slowed in August; Jobless Rate Fell to 8.1% The economy created 96,000 jobs in August, well below expectations and adding pressure on Federal Reserve policy makers, who have hinted they willact to stimulate the economy when they meet next week. However, the jobless rate fell to 8.1 percent, from… Continue reading Jobs In Pictures
The Wall Street Journal – Jon Hilsenrath: Jobs Report Raises Likelihood of Fed Action The weak jobs report increases the likelihood that the Federal Reserve will launch an easing program at the conclusion of its policy meeting next week, including a new bond-buying program. … Officials have been leaning toward an open-ended bond-buying program in… Continue reading Will Ben Follow Mario And Go “Unlimited” Next Week Too?