Pre-market update: looks good

This morning is shaping u to be one of the largest up days in market history. In Asia, Hong Kong's Hang Seng was up over 10%. Singapore's Straits Times Index rose 6 and 1/2 percent. In Europe, major markets are up as much as 7%. Dow…

Paul Krugman wins Nobel Prize

This morning I woke up and was listening to Bloomberg Radio in bed when I heard Robert Shiller and John Ryding talking about about Paul Krugman. I quickly realized he was the Nobel Laureate in Economics for this year. Krugman, the…

Quote of the day: John McCain

Talking about how he will fare against Barack Obama in the upcoming third and last U.S. Presidential Debate, John McCain said:"We're going to spend a lot of time and after I whip his you-know-what in this debate, we're going to be going…

Pro-cyclical and pro-secular

You have probably heard people bandy about the term pro-cyclical as it has become a key concept for economists as we enter a downturn. The crux of pro-cyclicality is that some things rise with an upswing, but fall with downswings --…

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