<Click on graphic for larger image> Barron’s – JONATHAN R. LAING: Good, Bad and Ugly There’s hope for states that accept structural change, but pain for those that won’t. Are you listening, Illinois and California? For most states, fiscal 2012 is shaping up as a brutal year. They’ve already had to close a collective gap… Continue reading Munis
The Economist – Private-equity firms: Between a clock and a hard place The turmoil in stockmarkets has hit the private-equity industry BOSSES of private-equity firms may have impeccable timing when doing deals but it fails them when throwing parties. In 2007 Steve Schwarzman, the joint founder of Blackstone, had a $3m bash for his 60th… Continue reading Private Equity
None Today
Comment Bernanke gave his long awaited Jackson Hole speech and said nothing. We found the following passage to be the most interesting part of the speech: In addition to refining our forward guidance, the Federal Reserve has a range of tools that could be used to provide additional monetary stimulus. We discussed the relative merits… Continue reading Quick Thoughts About Jackson Hole
Comment Yesterday Jim Bianco was on CNBC discussing the Federal Reserve (QE3) and the economy. To view the interview click on the picture above. To view any of our recent interviews click here. We continue to put the odds of QE3 at 50/50 and the odds of a recession at 51%. CNBC – QE3 Is… Continue reading Outlook
Reuters – Schwab sues 11 major banks for manipulating Libor Schwab says banks conspired to drive down Libor Charles Schwab Corp, the discount brokerage and money manager, has filed two lawsuits accusing 11 major banks of conspiring to manipulate Libor, which is used to set interest rates on hundreds of trillions of dollars of securities.… Continue reading Lie-Bor Goes To Court
<Click on chart for larger image> The Wall Street Journal – Bailout for Greece Falters Over Demand for Collateral Finland’s Request for Collateral Is Still a Sticking Point; Merkel Cancels Trip to Focus on New Treaty Plan Euro-zone policy makers on Thursday appeared no nearer to settling a dispute over Finland’s collateral demands in exchange… Continue reading Greece To Default?
<Click on chart for larger image> Spiegel (Germany) – The Surging Franc: Swiss Fear the End of Economic Paradise By seeking safety in the Swiss franc, global investors have caused its value to skyrocket. But the currency’s rapid appreciation has significantly hurt exports and tourism — and given rise to serious worries about the future.… Continue reading The End Of Switzerland?
CNBC – Wadhwa: Merkel’s Grip on the Throne Shaky Just back from vacation, “Angie” certainly had a tough week. There is little hope of it getting any easier in the weeks to come. The euro and her handling of the debt crisis is giving her more and more headaches. It’s not enough that she is… Continue reading Is Merkel’s Political Future Hurting German Stocks?
The Wall Street Journal – In Buffett’s Latest Bet, Gone Is the ‘Panic Premium’ Warren Buffett’s latest bet on the state of American finance will return a little less easy money than he got during the financial crisis, providing evidence the banking world may be struggling but is still better than it was three years… Continue reading Buffett’s Latest Investment Is Good For Him, Not For You
Zero Hedge (Blog) – Biggest Gold Drop Since December 2008 Sends Metal To… Week Ago Levels Gold this morning is plunging by the most since December 2008. For those seeking the reason for the sell off, it once again appears that the market is about 24 hours late in processing news that has been out… Continue reading Some Perspective On Gold’s Selloff