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ECRI Weekly Index Growth Rate Now -8.3
From the ECRI website: A measure of future U.S. economic growth fell to the lowest since July 2009, indicating that the economy will continue to slow, a research group said on Friday. The Economic Cycle Research Institute, a New…
Concerns Over Monetary Policy And Other Links
I have a lot of links today, so I will do two sets. Topic of the Day: Monetary Policy Here is the first set with an emphasis on monetary policy and debt. The ECRI Index came out at a –8.3% annualized. That's getting very close to where…
Possible Head and Shoulders Bottom Pattern in Euro
The euro has been sold off in early North American activity. It does not appear to be news/event driven, but rather some week end profit-taking that triggered some stops. We do note that many were looking had targeted the…
A reduction in both fiscal and monetary stimulus
I have argued that both fiscal and monetary stimulus would be withdrawn sooner than most people expected. Here's how I put it in March (emphasis added): I expect the following to occur: Public pressure to withdraw monetary and…
Pre-Market: Equities Mostly Higher, Bonds Lower, Dollar Consolidating
Highlights The US dollar consolidating this week’s losses against most of the major currencies; trading with a firmer bias within yesterday’s trading ranges. The general forces weighing on greenback remain intact. The negative…
Would The U.S. Economy Have Double Dipped If The Fed Raised Rates in 2003?
The Chris Whalen interview on CNBC has me thinking about the Federal Reserve's policy dilemma right now. If you haven't seen his comments on interest rates, read my post Roubini, Bremmer and Whalen: Fixing the Financial System and Double…
Comstock: Liquidity Trap Means QE Will Fail As Private Sector Deleverages
Excerpts from Comstock's latest weekly: Debt is discussed by the pundits on financial TV also, but in almost every case the discussion revolves around government deficits relative to GDP or government debt relative to GDP. They…
Are the rich the biggest strategic defaulters?
It would seem so from the statistics compiled by the New York Times. The article leads in by suggesting the rich are 'losing their home but given the talk about strategic default earlier in the year (see here), you should wonder whether…
Kass: Stocks Have Hit Bottom For Year; This Must Be The Place
After three days of major market gains, call me naive, but this must be the place! Seriously though, I do think we are in a secular bear market and expect prices to go lower. Remember the 200-day moving average is still above 1100. We're a…
Roubini, Bremmer and Whalen: Fixing the Financial System and Double Dipping
Below is the video of Chris Whalen of Institutional Risk Analytics, Nouriel Roubini and Ian Bremmer of the Eurasia Group giving their assessment of the financial system and the overall economy. The group was on CNBC earlier this week…