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Who Knew About The U.S. Downgrade Ahead Of Time?

September 20, 2011

The Wall Street Journal – U.S. Probes Rating-Cut Trades Securities regulators have sent subpoenas to hedge funds, specialized trading shops and other firms as they probe possible insider trading before the U.S. government’s long-term credit rating was cut last month, people familiar with the matter said. Securities and Exchange Commission officials demanded more information about… Continue reading Who Knew About The U.S. Downgrade Ahead Of Time?

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The Federal Reserve Model

September 20, 2011

MarketWatch – Fed Model more bullish than in decades I have some very bullish news to report. But it comes with a catch — a very big one, in fact. First, the bullish news: One of the most popular market timing models of recent decades is showing the stock market to be more undervalued now… Continue reading The Federal Reserve Model

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The Buffett Tax

September 20, 2011

The Wall Street Journal – The Buffett Alternative Tax The President’s complaint, echoing billionaire Warren Buffett, is that too many billionaires pay a lower rate than regular salary earners. So even as he endorsed tax reform in general yesterday, Mr. Obama insisted that one of his reform “principles” is that people who make more than… Continue reading The Buffett Tax

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China Cuts Off European Banks

September 20, 2011

The Wall Street Journal – Bank of China Halts Forex Swaps With UBS, BNP Bank of China Ltd. has suspended trading of foreign-exchange swaps with BNP Paribas and UBS AG in China’s domestic market, a move that could further agitate a local market increasingly nervous about the unfolding euro-zone debt crisis, people familiar with the… Continue reading China Cuts Off European Banks

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The European Union

September 20, 2011

The Wall Street Journal – What Comes After ‘Europe’? What is now happening in Europe isn’t so much a crisis as it is an exposure: a Madoff-type event rather than a Lehman one. The shock is that it’s a shock. Greece was never going to be bailed out and will, sooner or later, default. The… Continue reading The European Union

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Cartoons

September 20, 2011

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Newsclips

Inflation

September 19, 2011

Bloomberg.com – Bernanke Joins King Tolerating Inflation to Revive Economies Inflation flashing red may be less of a green light for higher interest rates as global growth falters. Some Federal Reserve policy makers favor keeping their benchmark rate close to zero until price increases reach a level Vincent Reinhart, a former top official, says could… Continue reading Inflation

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Will The Federal Reserve Do More Than Operation Twist This Week?

September 19, 2011

MSN/Money – Bill Fleckenstein:  Get ready for the next ‘rescue’ A pivotal week lies ahead, as US and European central banks decide whether to push more cash into the economy. But money printing is part of the problem First off, I think it is a virtual certainty that the FOMC will unveil QE3, a, a… Continue reading Will The Federal Reserve Do More Than Operation Twist This Week?

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The Federal Reserve Cannot Agree

September 19, 2011

The Wall Street Journal – Jon Hilsenrath:  Fed Ponders Jobs, Inflation Targets Fed Chairman Ben Bernanke has asked Philadelphia Fed President Charles Plosser and Chicago Fed President Charles Evans, two intellectual adversaries, to work with Vice Chairwoman Janet Yellen on how the Fed can better explain its economic goals to the public. One issue high… Continue reading The Federal Reserve Cannot Agree

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No Austerity In Greece, Now Or Ever

September 19, 2011

The Wall Street Journal – Greece Seeks Further Cuts Pressured by Peers, Government Meets; Minister Lashes Out at the Euro ZoneGreece’s government held an emergency cabinet meeting Sunday to plan new measures to bring its unruly budget deficit into line, after heated warnings from the other euro-zone nations over the weekend that its efforts were… Continue reading No Austerity In Greece, Now Or Ever

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Europe Ignores Geithner

September 19, 2011

The Telegraph (UK) – European finance ministers ignore US Treasury Secretary Tim Geithner’s warning of ‘catastrophic risk’ over debt crisis European leaders ignored a dressing down from US Treasury Secretary Tim Geithner over the “catastrophic risk” of not taking decisive action to tackle the sovereign debt crisis by choosing to delay until October a decision… Continue reading Europe Ignores Geithner

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The Euro

September 19, 2011

<Click on chart for larger image> The Wall Street Journal – Best Hope for Euro Lies in Fear of Failure But even if Greece gets its money in October, it may only postpone the reckoning: Its budget deficit this year is likely to be 10% compared with a target of 7.5%, says Citigroup. And Athens… Continue reading The Euro