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Frontrunning: August 24
- Roubini: Risk of double dip recession rising (FT)
- The month in charts (Cleveland Fed)
- UBS faces gruebel gloom until 2011 as withdrawals curb recovery (Bloomberg)
- Investors miss bubble while drunk on Lafite (Bloomberg)
- Readers' Digest files prearranged Chapter 11 (AP)
- New FICO model may boost some borrowers' scores (MarketWatch)
- Look for X-shaped economic recovery (RealClearMarkets)
- UK house prices to drop further 13%, bond investors forecast (Bloomberg)
- Global debt bubble, causes and solutions (Mish)
- Pimco's McCulley again sees bottom in bonds (Bloomberg)
- G20: Significance Explained (Brown Brothers Harriman)
- Economic report (Hudson Institute)
- Sexy Executives: not what you'd expect (ibid)
- It's hard being a bear - Part 1 (Steve Keen's Debtwatch)
- Morgensen: What the stress tests didn't predict (NY Times)
»
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HARPEX index greenshoot (not):
http://www.harperpetersen.com/harpex/harpexRH.do?showData=true&period=1&...
BTW, I really do not care who you are, as long as you compile such interesting media overviews. And what is my benefit, if I know the name of made-to-measure suit XYZ of TV-Station QRX? Ma benefit is absolutely zero on any timeline. Because I cannot bring him to the court tomorrow for lying to me today. Thanks for your good job here and good luck!
the proverbial mailbox
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good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
HARPEX index:
http://www.harperpetersen.com/harpex/harpexRH.do?showData=true&period=1&&checkedIndexes=0&floatleft=0&floatright=0&exponleft=0&exponright=0&indicator=0
Roubini, barely hiding his connection to Summers, beats the drum for another stimulus package as the peak impact of the past one starts to fade. Save the Administration!
Oh...didn't know there was a Summer's connection...interesting...
Everything Roubini has said since Summers was made head of the economic team should be taken with a grain of salt. I've been reading him since the fall of 2006 and there is a definate difference in the sharpness of criticism.
OECD in June that the combined economy of the world’s most-industrialized countries will shrink 4.1 percent this year and grow 0.7 percent in 2010.
IMF
How much has potential output decreased? It is very hard to tell: we do not see potential output, only actual output. The historical evidence is worrisome, however. The IMF’s forthcoming World Economic Outlook presents evidence from 88 banking crises over the past four decades in a wide range of countries. While there is large variation across countries, the conclusion is that, on average, output does not go back to its old trend path, but remains permanently below it.
IMF +OECD 2010 world GDP growth forecast 2.9 (In the average china and India acount for +8/7 %) where 2.5 % world growth is hovering around recession.
Roubini make's some fantastic points...good read...
Steve Keen posts some interesting insights on his website and he makes a pretty compelling case for greenshoots being green SH@#........ LOL The coming year will be interesting as the markets figure this one out.
Or, as Bob Chapman's take on a closer look, poison ivy.
I've been saying about a year now that in a decade lower FICO scores will be the norm and that bankruptcy will not be nearly as bad of a black mark. This FICO scoring change reinforces my hypothesis. I expect this to be the start of a movement to reinvent the consumer.
ok; let say they re-define FICO in order to revive consumers; but it won't do any help- You cant put some imaginary number next to a name and think the economy will rebound. You need money and less debt; something i don't see happening ( just the opposite ) in the next 10 yrs. In the extreme case they will blow up the world with inflation if credit starts flowing like in the boom years. And you cant pay down debt with more debt; the answer is not in the consumer; its in the producer; something needs to be made that the rest of the world would either need or want. There is no way out of this mess if you build recovery based on consumer fundations.
Control, Power. Not wealth accumulation, that is just a bonus of the plan. A nice side effect.
Kill the Fed, ban lobbyists, then replace the entire Congress.
The banks are:
1)not lending
2)hoarding cash
3)raising capital
4)trading like mad profitably
are sure sign tales that there will be another leg down in this financial crisis (CRE, credit cards, more mortgages going under water) eventually and they dont want to be caught with their pants down of not having enough capital.
This is so obvious that the adminstration probably gave them 1 year reprieve period to fix up their balance sheet before the next shoe drops. but this time since they have become more prepared and much better capitalized, they wont need to ask the taxpayers to foot the bill. Of course, by then the taxpayers will have no job at all, inflation would be sky high and their 401k's probably have 401 dollars left in it.
Definition of idiocy.
"Highest P/Es for Commodity Companies Hide Bargains" - Bloomberg
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajtaK1uDm8aw
Summary. Commodity stocks are VERY expensive by current P/E, but mid-priced according to projected earnings as per Bloomberg survey. (somebody tell Mr. Tsang that P/E's of 17 are NOT cheap, even when they are not forward-looking bullshit)
Are we having dot-com flashbacks yet?
Obama keeps racking up impeachable offenses:
First the $150 million dollar Big Healthcare quid pro quo which Obama lied about directly at the american sheep (idiots) in his town hall meetings (shams):
http://www.huffingtonpost.com/2009/08/13/internal-memo-confirms-bi_n_258...
And then we find out that he stole and looted our taxpayer money for political gains and lied about that as well:
http://gatewaypundit.blogspot.com/2009/08/breaking-white-house-confirms-...
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thanks for the updates
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good articles; good articles 4 slow news day ..http://www..
hat tip: finance news & finance opinions
WOPR = win. C= 5.00. Correlation blowout. Market = up. Dollar = up. Bonds = up. Commodities = up.
Calculation on time necessary to print FRE, FNM = 5.00... countdown started.