2008

I am wading into this debate over whether or not the U.S. government should temporarily suspend the federal tax on gasoline this summer. I come down on the side against the tax break. Here's why?In a post about Windfall taxes on Tuesday, I…

Updated throughout the dayUSU.S. Loses 20,000 Jobs in April; Unemployment Rate Falls to 5% (Bloomberg, 5/2/2008) Dollar Reserve Status Is Tale of Fading Glory (Bloomberg, 5/2/2008)Bank of America May Not Guarantee Countrywide's Debt…

Updated throughout the dayUSCorrection: Unemployment Insurance Weekly Claims up 35,000 (U.S. Government, 5/1/2008)Unemployment Benefit Rolls Climb to 4-Year High (Bloomberg, 5/1/2008)Recession's here, economist Kasriel says (Wilmette Life,…

Today, I read an article by Robert Samuelson in the Washington Post advising that the U.S. allow drilling for oil in previous no-go drilling zones because the cost of oil is rising. Originally, I agreed with his assessment. Today, I have…

The Lex column in Yesterday's FT highlights what many market players are thinking about the company's £4 billion ($8 billion) rights issue: the economic outlook in the UK is worse than feared."The main potential explanation for the apparent…

This blog entry will serve as a timeline to track housing prices over time as they are reported. US: S&P/Case-Shiller Index 2007 03 27 S&P/Case-Shiller Home Price Index Declined 0.2% 2007 04 24 S&P/Case-Shiller Home Price…

With oil prices edging up near $120 a barrel, isn't it time for a Windfall Profits tax on oil companies in order to alleviate the burden of the high cost of oil? The short answer is no. Let me explain why.

As I predicted on Saturday, HBOS has got caught up in the global mortgage meltdown. Bloomberg reports:HBOS Plc, the U.K.'s biggest mortgage lender, will sell 4 billion pounds ($8 billion) of shares to bolster capital depleted by asset…

Deutsche Bank released earnings that showed a loss for the first time in five years as they wrote down $4.2 billion in equity as a result of the global credit crisis. While Deutsche Bank has got off well because of reduced exposure to…

When you hear about inflation on TV, don't you often wonder why the official number seems lower than inflation feels to you when you go shopping? It's an open secret in Washington, but the Consumer Price Index (CPI), the common measure of…