October 2008

This SNL skit making fun of the Obamas is hilarious. Even Obama fans have to laugh! (hat tip Marshall Auerback).

In the last few weeks, the currency market is where the action has been. We have witnessed massive moves in every major currency and in some not so major ones. To my mind, all of this is a prelude to some sort of currency crisis. This…

We had a great comeback to be down only 300 points on the Dow yesterday. Who knew that the day would come when I would be satisfied with losing only 300 points. Below are some of the best of blogger posts on the web. Have a great…

'I made a mistake,' admits Greenspan Alan Greenspan, the former Federal Reserve chairman, said the credit crisis had exceeded anything he had imagined and admitted he was wrong to think that banks would protect themselves from financial…

I have felt for sometime that dollar strength is a counter-trend that has a sell-by date written all over it. You see, the Federal Reserve is ballooning its balance sheet like nobody's business as it tries to be the global lender of last…

From the Washington Post by the fabulous Tom Toles:

Although off its highs for the day, the Japanese Yen is still looking very strong against every major currency. Earlier, it pushed as high as 92 yen to the dollar. Jim Rogers was on Bloomberg saying it was headed much higher.

If you are in need a little comic relief, I have the answer: Jon Stewart. He is my distraction of the day. Stewart has a great segment from last night on election gaffes. The part where Al Gore gives Tipper a big wet kiss is a classic.…

Reflecting on the market turmoil today, Marshall Auerback had a funny if ironic thought: Our beloved Treasury Secretary promised us Financial Armageddon if we didn't pass his wretched bill a few weeks ago. I wonder how he would describe…

If you recall, I have been warning for a while now that hedge funds were going to take a beating. There are many progosticators out there including Nouriel Roubini which feel that many hedgie bankruptcies are on the way. Below is a…