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Bernanke's assets take a hit
Strange that Tiny Tim is wealthier than Bernanke.
Tim did work for the NYFED which is legally a private corporation, so he would have had a more flexible compensation plan. Bernanke still had to remain the public front for the mostly private FED.
A lot of people who would have been paid a lot more in the private sector go into government or quasi-government jobs for power if anything else.
Although, some of them were just compeletely incompetent in the private sector, and were lucky enough to land a government (or Fed puppet) job.
Maybe some of the difference is due to Ben having paid his federal income taxes in prior years, the silly rabbit.
MBA Purchase Applications, Durable Goods Orders, Beige book, EIA Petroleum status
All are coming in worse than expected. Let them turn off the bots and see where we come in at the end of the day
"This Wall Street crash has got me grooving to the beat"
Party like it's 1987 crash!
Look at that opening bell drop. They must really need to get more buyers for the bond issue
Bag of shame gone? Yay!
That was the best damn disclaimer I ever read.
To paraphrase, relying on ZH as a childern's party clown will result in will result in civil and criminal actions naming me as the defendant.
Unstoppable bulls now. I reckon they would still be buying even if the 4 minute warning was sounding. Astonished to see them bid up on the back of minus 5% China, oil, gold down, euro down ect.
More Happy House Price News
by CalculatedRisk on 7/29/2009 09:06:00 AM
God people housing prices are not going up, instead we have more high end foreclosures selling pulling up the average sale numbers. Doesn't anyone get out in the field and check their numbers? I would love housing to at least flatline, not happening in SoCAL. Appraisers will not agree to appraise a house higher than a previous sale. People are bidding the homes up due to perceived scarcity. The appraiser are bringing the values back down to Reality unless you have cash. The hardest hit areas are slowing the 2 year decline they have seen but new areas are seeing a 30% decline yoy. This is far from over.
Ouch at China market, did the bubble just prick or is this a minor pullback?
Rumours of stimulus being pulled.
Pricked. There's probably more updated stories about it by now, but this was from overnight:
Every Shanghai IPO listed this year (which were 1000000x oversubscribed and opened up 800%) is now trading under its IPO price. Bubble, what bubble? China's going to grow the world back into a boom...
So crude is down about 7% since yesterday's high, on the back of China being down 5% overnight, and the US stocks barely flinch. Something is not right.
Looking for S&P 960, perhaps 942 if things turn ugly.
July 29 (Bloomberg) -- Goldman Sachs Group Inc., the bank that makes the most money from commodities, fixed-income and currency trading, said attempts to curb speculation may be “disruptive” to markets.
“The role that is played by non-traditional participants such as index investors and other financial participants often has been mischaracterized,” Don Casturo, a Goldman Sachs managing director, said today at a Commodity Futures Trading Commission hearing in Washington.
The testimony to CFTC Chairman Gary Gensler, a former Goldman Sachs employee, is part of the second day of hearings on excessive market speculation and how to respond. Gensler, who said yesterday that speculators contributed to a commodity “asset bubble,” is considering new position limits in energy markets after crude oil futures rose to a record $147.27 a barrel in 2008 on the New York Mercantile Exchange.
GS just infests everything............
I smell GDP manipulation.
Heh, love this blog, and thanks for the info.
Just one thing - Webmarshal now blocks it as pr0n :(
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