The Financial Times – Fears grow over banks addicted to ECB funding In November last year, Jean-Claude Trichet, European Central Bank president, had a blunt message for bankers and politicians. Addressing the annual European banking congress in Frankfurt’s palatial 19th century Alte Oper building, he warned emergency measures were all very well, “but if their… Continue reading Are European Banks Addicted To Stimulus?
The Washington Post – More banks missing TARP dividend payments Big Wall Street firms have the most bruised public reputations, but it’s a collection of smaller banks that continues to plague the Treasury Department’s bank bailout program. The latest report from the agency shows that more than 120 institutions – nearly all of them small… Continue reading Time For The U.S. Taxpayers To Check In On Their Portfolio
<Click on chart for larger image> Zero Hedge (Blog) – Michael Pento Asks If The Fed Ultimately Controls Interest Rates In forecasting the consequences of current economic policy, many pundits are downplaying the risks associated with the surging national debt and the rapid expansion of marketable Treasury securities. Their comfort stems from the belief that… Continue reading The Federal Reserve vs. Debt-to-GDP
The Financial Times – It is time to dance to a new long-term tune Should Lehman have been rescued? How should the Federal Reserve and government have responded as the downturn worsened? Who or what was to blame? Economists and policymakers are vigorously exploring the first question. It is likely that Lehman could have been… Continue reading Long-Term Policy vs. Short-Term Policy
Comment Jim Bianco was on Bloomberg TV Friday morning discussing the economy. To view the interview click on the image above. To view any of our interviews click here.
Barron’s – Michael Santoli: Correlation Corral Too much herd behavior among traders is making us feel anxious about the real state of the markets. The un-wisdom of crowds. MARKET METAPHORS ARE LIKE license-plate numbers: everyone has one, but eventually they all get recirculated. The thought struck last week that the market lately has seemed like… Continue reading Correlation Among Stocks
Bloomberg.com – Bank Stocks Climb as Basel Gives Firms Eight Years to Comply Bank stocks rose in Europe and Asia as regulators gave firms more time than analysts expected to comply with stiffer capital requirements aimed at preventing future financial crises. France’s Credit Agricole SA and Dexia SA led the Bloomberg Europe Banks and Financial… Continue reading Basel III – So Important We Have To Wait Eight Years For It!
The New York Times – 2010, a Year of No Inflation The lack of inflation this year is a story that deserves more attention than it has received. On Friday, the Labor Department will release the inflation number for August. Economists are expecting an increase of about 0.2 to 0.3 percent over July’s Consumer Price… Continue reading Inflation
Bloomberg.com – At New York Fashion Week Hemlines Are Up and Down, Just Like the Markets It used to be so simple at fashion shows. When stocks were soaring, skirts rose with them to mini length. When the markets headed down, hemlines dropped to more modest levels. This year, it’s not so straightforward. Three days… Continue reading Hemlines
The Wall Street Journal – Banks’ Plans for Foreclosed Homes Will Drive Market The speed at which house prices fall over the next few months could depend less on mortgage rates and Americans’ appetite for home buying than on how banks decide to manage the huge number of foreclosed homes they own or may take… Continue reading Foreclosed Homes
MSN – Bill Fleckenstein: Waiting for the Fed’s next blunder The signs are all there that the Federal Reserve is ready to step in with more policies and more money — but without much more wisdom. As if to remind us of central bankers’ inability to “get it,” Sept. 2 saw Federal Reserve Chairman Ben… Continue reading The Federal Reserve