The New York Times – GRETCHEN MORGENSON: A Bailout by Another Name But what the proponents of principal reductions at Fannie and Freddie don’t talk about is what a transfer of wealth from taxpayers (again) to large banks such a program would represent. The fact is, principal reductions by Fannie and Freddie are not the… Continue reading Fannie/Freddie
<Click on chart for larger image> MSN/Money – Jim Jubak: Why oil speculators are in charge Promises of more production and shipping from Saudi Arabia barely moved the price of oil and gas. Plus: The country investors should be watching Talk is cheap. Especially when you’re in the middle of an oil price war. So… Continue reading Evil Oil Speculators
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Comment Howard Simons was on WGN News last night discussing gas prices. To view the interview click on the image above. To view any of our recent interviews click here.
Real Time Economics (WSJ Blog) – Fed’s Evans Calls for Stronger Commitment to Low Rates Charles Evans, president of the Federal Reserve Bank of Chicago, amplified his call for a stronger commitment by the central bank to keep interest rates low with a new research paper which he says offers mathematical proofs supporting his proposals.… Continue reading Charles Evans Already Wants To Change The Inflation Target
Business Insider – Ben Bernanke’s Massive Slide Presentation Explaining Monetary Policy Since WWII Fed Chairman Ben Bernanke is giving a presentation on the Federal Reserve right now—his second of four presentations on the Fed and the financial crisis. This time, he explains the evolution of the Fed from the end of WWII. Follow along with… Continue reading The Federal Reserve Can Do No Wrong
The Wall Street Journal – Companies Hoard Cash, Damping Growth Across Europe, banks, households and governments are pulling in their horns at the same time. Banks are struggling to rebuild capital and repair the damage wrought by poor lending and investment decisions they made before the financial crisis, and are wary about new lending. In… Continue reading Cash On The Sidelines Across The Globe
The Wall Street Journal – Fed Hosts Global Gathering on Easy Money The world’s leading central bankers have spent much of the past few months putting out financial fires and launching measures aimed at recharging the global economy. On Friday, they will gather here to gauge the impact of their easy-money policies—including whether the controversial… Continue reading It’s A QE World
<Click on chart for larger image> Deal Journal (WSJ Blog) – Wall Street Earnings: Time to Raise the Expectations There remains just one week left in the first quarter and the estimate revisions for bank earnings typically start flowing in around now. But there may be a change this quarter: the revisions are likely to… Continue reading Earnings Estimates
<Click on chart for larger image> The Financial Times – Spanish economy: Gathering gloom It was an eye-catching act of horseplay among politicians negotiating under pressure. At the end of yet another Brussels summit this month aimed at resolving the eurozone crisis, Luxembourg’s Jean-Claude Juncker, chair of the eurozone finance ministers, jokingly placed his hands… Continue reading Spain
Business Insider – This Midwest Boomtown May Have Just Recorded The Lowest Unemployment Rate In American History Professor Mark Perry of the Carpe Diem blog points us to data just released by the state of North Dakota. According to their records, the city of Williston and surrounding Williams County notched a 0.8% unemployment rate for… Continue reading Looking For A Job?
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