Comment Larry Meyer was on CNBC’s Squawk Box yesterday morning. Jay Jordan was the guest host. The following conversation took place starting at 5:14 (the text in red is our emphasis). Steve Liesman: I think they’re [the Fed] going to be dead wrong on inflation. I think inflation is going up. Becky Quick: Let’s ask… Continue reading Larry Mayer Says The Federal Reserve Is Perfect
The Wall Street Journal – Stress Tests Buoy U.S. Banks Most of the biggest U.S. banks passed the latest round of “stress tests” administered by federal regulators—a milestone in the recovery from the financial crisis that clears the way for investors to receive tens of billions of dollars in increased bank dividends and share buybacks.… Continue reading U.S. Banks Are OK Now
The Financial Times – The Greek debt drama has merely paused for an interval Many investors wish to wave a final goodbye to the disruption the Greek debt crisis has had on market valuations. Meanwhile, European policymakers are already trying to move away from the dramas on the periphery and focus on restoring growth in… Continue reading Greece
The New York Times – Why I Am Leaving Goldman Sachs TODAY is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough… Continue reading Leaving Goldman Sachs And Telling The World About It
<Click on chart for larger image> Reuters.com – U.S. asks Saudis to lift oil output from July The United States is pressing Sauadi Arabia to boost oil output to fill a likely supply gap arising from sanctions on Iran, Gulf oil officials said, adding that an increase in production is unlikely to be needed before… Continue reading Crude Oil Production
Business Insider – Why Portugal Might Be The Real Trigger That Causes The Eurozone To Spiral Out Of Control Portugal is stealing some of Greece’s limelight right now, with yields on three-year government bonds topping 21% today. That’s a record high for the troubled country, which is struggling to pay off a mountain of debt… Continue reading Portugal
Bloomberg.com – Private Equity’s Foreclosures for Rentals Net 8%: Mortgages Ken Major climbs the steps of a county courthouse in a San Francisco suburb with $500,000 in cashier’s checks in one hand and a list of addresses in the other. Major is a buyer for Waypoint Real Estate Group LLC, an Oakland-based investment firm that’s… Continue reading Flipping Homes Lives On
MarketWatch.com – 10 reasons Wall Street will hit bottom, crash Yes, Wall Street will crash. Has to. They’re gambling addicts. Dodged the bullet in 2008. But learned nothing. Now killing reforms. Teamed up with the Super Rich, CEOs, lobbyists, and crony politicians. It’s only a matter of time. Yes, they’ll crash, again. No matter how… Continue reading When Will The Market Crash?
<Click on chart for larger image> Bloomberg.com – Santorum Says Romney Can’t Close ‘Deal’ With Republicans Rick Santorum won the Alabama and Mississippi Republican presidential primaries, strengthening his status as Mitt Romney’s main challenger and dealing a setback to Newt Gingrich. Romney was running third in yesterday’s races, dashing his hopes for a victory in… Continue reading Election Update
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The Wall Street Journal – Fed Leaves Investors Twisting With Risk “Watch what we do, not what we say.” That saying can be turned on its head when it comes to Federal Reserve meetings. There is virtually no chance of a big policy change when the Fed meets Tuesday. But, as always, the verbiage of… Continue reading The Federal Reserve Announces Today
<Click on chart for larger image> Huffington Post – Wealth: Net Worth Rising As Stocks Rally, Fed Reports Americans are climbing further out of the hole they sank into during the Great Recession. A stock rally at the end of 2011 helped rebuild more of their lost wealth – a trend that carried into 2012.… Continue reading Household Net Worth