Credit Writedowns

QE is an asset swap. No new net financial assets are introduced into the private sector in contrast to when the government deficit spends and does add new net financial assets. So for it to have all of those seriously beneficial effects…

Samsung released earnings today that showed record profit but they warned that the growth of handset sales was slowing because of increasing competition.

I don't write about jobless claims that much any more because I don't see the claims number as an interesting data point unless there are large shifts to the upside or downside. But since I am now looking for signs of recession, it behoves…

This is another of my ten surprises for 2013. Apple is down 50 points today, well below its shoulder line on a topping head and shoulders pattern. The stock is breaking down. But there is a lot more pain to come. I have been increasingly…

News links for 24 January 2013

Last year, I was bullish on European shares and this proved the right call as they modestly outperformed. As this year begins, I am doing a lot of thinking about my much-delayed "Ten Surprises for 2011" post. And as I compile list items,…

Here's the deal: Apple's halo effect has gone and investors are not impressed by Apple's earnings guidance. This quarter's earnings is proceeding exactly as I indicated it would earlier today.

All G7 economies are struggling in the post-crisis climate, but US GDP has recovered to pre-crisis levels, while the Eurozone simply hasn’t. This column portrays the global crisis as a transitory shock for the US, but as a quasi-permanent…

News links for 23 January 2013

The synchronized crisis and economic weakness has produced synchronized easing of monetary policy. Officials typically want currency to be supporting not contradicting monetary policy signals.