News round-up: 16 Oct 2008 – Blog edition
I want to spread the love today, so I am highlighting some of the posts of my fellow bloggers out on the Internet. Most of us have noted that the economic data coming out recently really confirms the fact that we’re in recession. What that means for equity markets is unclear. But, certainly, if this a long recession as it is likely to be, it cannot bode well for the general indices. It is a stock picker’s market.
I also should note that emerging markets are getting crushed now. Oil just fell below $70 a barrel. Gold is down $30 today. And other commodity prices are through the floor. As a result, it is expected Korea’s banks will struggle to re-finance and emerging markets generally are going to need to recapitalize their banks as well. Note, the Mexican Peso is cliff diving below 13 to the dollar right now. This would be a good time to go on a Mexican vacation as that’s down 30%.
I am off to Palm Beach tomorrow, so blogging will be light through the weekend. Good luck and have a great weekend.
Industrial Production: Cliff Diving – Calculated Risk
Bank Earnings Are Fugly ! – Big Picture
Money Market Rates Again Show Only Slight Improvement – Naked Capitalism
Implied Inflation Below 1% over the Next Two Years – EconomPic Data
Stiglitz: The U.S. Taxpayer Got a Raw Deal” – Mark Thoma
Nouriel Roubini on Charlie Rose – Big Picture
Gordon Brown Takes the Lead on Reforming Capitalism – Paul Kedrosky
Nikkei Falls Nearly 10%, Asian Markets Tank on Opening – Naked Capitalism
CNN: Culprits of the Collapse – Calculated Risk
The Unreassurable Markets – Market Movers
S&P may downgrade $280 billion of Alt-A – Calculated Risk
Bush’s approval ratings through the years – The Mess That Greenspan Made
Jamie Dimon: “If you are not fearful, you’re crazy” – Calculated Risk
Review of Palin and tax return issue – Angry Bear
Charlie Munger: Leash and Collar Wall Street – Naked Capitalism