Daily Kos – As Pragmatic As It Gets: “Is The Fiscal Cliff Coming Before The Election?” The old line on Wall Street is: “Buy on the rumor and sell on the news.” So, what happens when there are couple of major, upcoming events that many have warned us may severely affect our economy, not to… Continue reading The Fiscal Cliff
Comment Jim Bianco was interviewed by MarketWatch.com last week and discussed Europe and China. To view the interview click on the image above. To view any of our recent interviews click here. The Telegraph – Europe needs creativity not billions of euros, says German Chancellor Angela Merkel The German Chancellor fired the warning shot at… Continue reading Discussing Europe And China
The Financial Times – The right kinds of austerity policy The policies of fiscal austerity now being pursued throughout Europe have come under their strongest attack yet. Double-dip recession is eroding voters’ confidence that belt-tightening is the best way to recover prosperity. Elections in France and political upheavals elsewhere are tilting the balance of opinion… Continue reading Austerity In Europe
The American – New study: High U.S. debt levels could mean a quarter century of weak growth Economists Carmen Reinhart, Vincent R. Reinhart, and Kenneth Rogoff (from here on out referred to as R3) have a new study out looking at the economic impact of high debt levels: We identify 26 episodes of public debt… Continue reading U.S. Debt
<Click on chart for larger image> Bloomberg.com – Euro-Area Unemployment at 15-Year High as Slump Deepens: Economy Euro-region unemployment rose to a 15- year high and manufacturing contracted for a ninth month, adding to signs the economic slump is deepening. The jobless rate in the 17-nation euro area increased to 10.9 percent in March from… Continue reading Euro-Zone Unemployment
Pimco – Bill Gross: Tuesday Never Comes What they should know – and what the following chart, provided by the always observant Jim Bianco, shows – is that when QEI and QEII lapsed in recent years, stock prices declined by 10%–15% until magically they came back to live another day. The same stunting effect can… Continue reading Bill Gross Speaks
The Financial Times – Martin Wolf: After the bonfire of the verities What is the future of central banks? It will be busy, because they are now expected to deliver both monetary and financial stability. It will be controversial, because the decisions they make have a huge impact on the distribution of income, people’s access… Continue reading The Future Of Central Banks
Bloomberg.com – Four Fed Policy Makers See No Need to Ease With Economy The odds of more Federal Reserve stimulus diminished yesterday as four central bankers said it probably won’t be needed and an unexpected acceleration in U.S. manufacturing provided fresh evidence of economic strength. John Williams, president of the San Francisco Fed, joined his… Continue reading A Divided Federal Reserve
Bloomberg.com – Bonds Prove Only Winners for First Time Since 2008 For the first time since the start of 2008, bonds were the only investments to provide positive returns amid renewed concern the global economy is slowing and as widening deficits in Europe threaten contagion. Fixed-income assets — from Australian government debt to U.S. Treasuries… Continue reading Investing In Bonds
Bloomberg.com – Greenspan Says U.S. Stocks ‘Very Cheap,’ Likely to Rise Former Federal Reserve Chairman Alan Greenspan said U.S. stocks offer good value and are likely to rise as corporate earnings increase over time. “Stocks are very cheap,” Greenspan said today at the Bloomberg Washington Summit hosted by Bloomberg Link, citing “a very low price-earnings… Continue reading Greenspan Thinks Stocks Are Cheap
Zero Hedge – Is Central Planning About To Cost The Jobs Of Your Favorite CNBC Anchors? Something funny happened when last August CNBC hired access journalist extraordinaire Andrew Sorkin to spiff up its 6-9 am block also known as Squawk Box: nothing. At least, nothing from a secular viewership basis, because while the block saw… Continue reading CNBC’s Ratings
h/t The Big Picture