Where Is Fed’s Bully Pulpit?
The rate cuts being made by the Fed are not being passed along to homeowners, consumers, and most businesses. "Companies are paying more to borrow now than before the Fed reduced its benchmark rate…
Economy
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There is a recession over on Wall St. Bank where brokerage stocks are down 50% and losses keep mounting. But, a great majority of businesses in the US and Europe are not seeing much…
Delphi: No Exit
Wikipedia listing "No Exit", a 1944 play by Jean-Paul Sartre, (see also–Delphi’s Chapter 11 problem.) On the way to getting out of Chapter 11, auto parts company Delphi ran into the credit environment. Its…
The Biggest Recession In History: A Minority Report
It is a minority opinion, but one held by some astute people. The recession which may hit the US, or has already hit the US, could be the worst in 50 years. The argument…
FOMC 50/50 Delivery
The FOMC made its rate cut today and delivered on 0.50% on both the FED FUNDS and on the discount rate, so now Fed Funds will be targeted at 3.00%. Wall Street economists had…
Q4 GDP Already Near Recession Levels
Today we got our first look at Q4 2007 GDP, and this is the preliminary data that will see two revisions ahead. Q4 GDP just came in at +0.6%. Most estimates we saw were…
FOMC: The Certainty Of Rate Cuts
There is no question about Fed Fun Futures showing a 100% chance of a rate cut at 2:15 PM EST today. The verdict awaited is whether we see a 50 basis point cut or…
The Fed: Who Needs Congress?
The economic stimulus package coming from Congress and the Administration may not be in effect until well into the second quarter. There is already news that the Senate and House are having trouble finding…
No Recession For Video Games Or Hamburgers
"It is a very counter-cyclical industry," Burger King (BKC) Chief Executive John Chidsey told Reuters. Have a look at the menu at the fast food chain or at larger competitor McDonald’s (MCD). A person…
No Market For Old Men (C)(JPM)(AXP)
People still take about how Hannibal crossed the Alps to attack the Romans in 218 BC. Years from now they will probably do the same about the big 600 point turnaround on Wall St.…
U.K. & E.U. Central Banks Need To Follow With Rate Cuts
Yesterday’s FOMC emergency intervention of 75 basis point rate cut to 3.5% was believed to be part of a global coordinated rate cut effort in effort to stave off loan default risks pouring turning…
Bernanke Delivers Emergency Rate Cuts
The Federal Reserve has decided to finally take action to at least catch up to the markets with an inter-meeting emergency rate cut. The FOMC has announced a 75 basis point rate cut in…
Will the Fed Intervene Early?
Today is going to be a critical day in the financial markets. U.S. markets were closed on Monday while it was a financial blood bath on Monday in the E.U. and Asia and Tuesday…
A Stimulus Package For The Dead
Sen. Charles Schumer and the rest of Congress are making a painfully slow but purposeful rush to save the economy from recession. It is a shame the the actions will come at least quarter…
CPI Reading Showing At Least Some Inflation Containment
The Consumer Pricing Index for DECEMBER 2007 is showing that prices on the consumer level are not running out of control. The CPI came in at +0.3% on nominal CPI and +0.2% on a…