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Has the Recession Really Ended?
In a post via John Mauldin, Van Hoisington and Lacy Hunt echo some themes CW presented in January regarding why the NBER has waited to declare an end to recession. See "Is the recession dating committee preparing for a double…
Portugal Downgraded; Spain’s Turn Again ?
Spain's Finance Minister Salgado says the downgrade of Portugal earlier today does not put pressure on Spain. It is true as far as it goes, but of course Spain's problem transcends Portugal. The ruling Socialists in Spain are seven seats…
Anticipating An iPhone 4 Recall And Other Links
Anticipating An iPhone 4 Recall Time for an iPhone 4 recall? | Molly Rants - CNET News Consumer Reports Slams The iPhone 4 Over Antenna Issue - Tech Crunch The Usual Fare Double-Dippers Are All Wet Ignoring Yield Curve:…
Corporate CEOs Won’t Invest in America, Why Should You?
Frederick Sheehan is the author of Panderer to Power: The Untold Story of How Alan Greenspan Enriched Wall Street and Left a Legacy of Recession (McGraw-Hill, 2009). There is no end of economists, analysts, and reporters filling the…
After Portugal Cut, Push-Me Pull-You Choppy Price Action
Highlights The US dollar is broadly mixed as the news stream buffets the foreign exchange market. A better than expected reception to the Greek T-bill auction helped mitigate the reaction to Moody’s decision to cut Portugal’s…
Moody’s cuts Portugal credit rating two notches to A+
The credit rating agency Moody's has cut the credit rating of Portugal two notches to A1 from Aa2. While the move is not entirely unexpected, it is having a negative effect on the euro. Expect Marc Chandler to say something about this in…
Hussman: US shares are 40% overvalued
John Hussman is out with another good piece this week in which he deconstructs all of the short-termism and technical analysis dominating the talk of market followers in the US. He opens saying: Perhaps the best way to begin this week's…
Is There A Global Economic Slowdown In The Works?
According to Ralph Atkins writing in the Financial Times last week, “the pace of Germany’s recovery is helping dispel fears of a “double dip” recession across the continent as a result of the crisis over public finances in southern European…
DON’T Let Goldman Be Goldman
Wallace Tuberville writes that if we let Goldman go back to its old ways, no one wins. This post originally appeared at New Deal 2.0. William D. Cohan’s op-ed piece in the July 7th New York Times had the same title as this article, but for…
Canadian Jobs Data Underscore Likelihood of Rate Hike
Canada reported incredibly strong jobs data before the weekend. Canada grew 93.2k jobs, more than 4 times more than than market expected. It grew almost 50k full time jobs. These are impressive numbers and renews…