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U.K. central bank does not follow Fed to ZIRP
The U.S. Dollar got more bad news today when the Bank of England (BoE) decided to not follow the U.S. Federal Reserve's lead to a Zero Interest Rate Policy (ZIRP). The BoE was seen as the most likely to follow in the Fed's footsteps as i…
Links: 2008-12-16: the deflation edition
Given the Fed's dramatic cut to a Zero Interest Rate Policy (ZIRP) and a verbal commitment to quantitative easing, I wanted to change things a little for this round-up. I am going to link out to myself by going back in the archives and…
U.S. Dollar: Cliff Diving
Zero percent interest rates mean a weak currency. The U.S. Dollar is getting hammered. See these charts from the last day and a half of trading. Even the British Pound is cleaning up!
Chart of the day: U.S. Consumer Price Index
I recently wrote a post about U.S. Treasury securities which have been rising in price as interest rates have come down. In the post, I called the Treasury rise a bubble and I stick by that moniker despite protests from some astute readers.…
Connecting Fed cuts with credit writedowns and quantitative easing
To my mind, lowering interest rates in the aftermath of an enormous credit bubble where institutions have just destroyed $1 trillion in capital is wrong. It distorts lending decisions such that yet more money will eventually be lent out…
Jim Chanos: “It’s a bear market rally”
Jim Chanos, the famous hedge fund guru and short-seller does not think stocks are going to be up for long. He sees the recent rally on the back of promised government stimulus as temporary and expects markets to resume their downward…
McCain campaign leaves secret e-mails on Blackberries sold off to public
Here's a little video that should teach you why you need to erase all data permanently before you sell or get rid of any computer, Blackberry or computing device.
Glencore: credit default swaps suggest something amiss
You have probably never heard of Glencore. Well you have heard of its founder Marc Rich, the man infamously pardoned by President Clinton before he left office. And I suspect that you will soon hear a lot more about the company as well.…
Goldman loses $2.1 in the third quarter
Goldman has done exceptionally well compard to other investment banks through this credit crisis. However, many were predicting a stunning turn of fortune for the latest reporting period. And stunning it was as Goldman lost a mammoth $2.1…