Economy

I was inputting some statistics into an excel spreadsheet for unemployment claims when it occurred to me: the Bush administration is cooking the books. Not literally, but figuratively. Here's my logic.Let's leave aside whether the…

I am starting to become quite cynical about the Bush Administration and crony capitalism. There may be no smoking gun, no e-mail chain to indict conspirators. The Bushies may break no laws. But, it is increasingly obvious that the War in…

Apparently the rumors are true, despite what McCain now says. He almost became a Democrat. Jake Tapper has uncovered the story which proves it, buried since 2006.Remember how McCain blew up at Elisabeth Bumiller when she asked him about…

The UK government came up with a new inflation data series in the 1990s to replace the RPI for tracking consumer price inflation. Many people believe this series, the CPI, understates the inflation actually experienced by consumers in the…

In an article entitled "Globalized Inflation," Joachim Fels warned in today's Wall Street Journal that inflation is not contained and that we are in a new inflationary period.The conventional theory is that surging food and energy costs…

See Bloomberg News story here and Bloomberg's running tally on my blog here.Related Posts and articles:Loss EstimatesPaulson & Co. Says Writedowns May Reach $1.3 Trillion, Bloomberg 18 Jun 2008

According to Reuters, a Goldman Sachs industry analyst team led by Richard Ramsdenhas issued a report suggesting that global financial institutions are short an additional $65 billion of capital. Banks have raised over $300 billion in…

and cut dividend. Regionals across the country are now suffering. The second leg down for financials has truly begun. I warned on Fifth Third this past Thursday in What's happening at Fifth Third? See new story here. Update: 9:19 EDT…

This via the FT blog FT Alphaville:The latest downgrades from S&P - testament to the fact that the structured finance unwind isn’t yet unwound: 330 U.S. CDOs put on credit watch negative80 second lien RMBS cut to ‘D’65 Alt-A RMBS…

If Mervyn King is right regarding comments he made in his letter to the Chancellor Alistair Darling, then we should expect interest rates to head down after peaking sometime before year's end. I tend to agree with him that the deflationary…