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Chart of the day: Aussie Dollar
If the huge sell-off on Wall Street, the gaping up of LIBOR, the halt of credit liquidity everywhere, the nationalisation of financial institutions and the enormous TED spread are not enough to convince you that we are headed for a…
678 points down
Honestly, I expected today to be up. In fact, it was a good day for much of the day. Overnight, the Hang Seng and the Straits Times were up over 3% in Asia. The European markets lost only a few percent. None of this prepared us for the…
Interest rates up in the US as investors choke on supply
The yield on U.S. Treasury securities shot violently upward for the third day as the U.S. Government prepares to raise hundreds of billions of dollars in defense of its banking system. Up until a few days ago, treasury yields sank as…
The Obama as terrorist theme gains traction among some
The YouTube video below is gaining a wide audience on the Internet. It shows an Ohio blogger interviewing some McCain-Palin supporters after a speech and rally by Sarah Palin in that state earlier this week.The blogger's question to…
Unemployment claims finally fall, outlook still grim
After rising from the mid 300s in May and June to almost 500,000 the past few weeks, we have finally seen a break in the claims for unemployment in the United States. This past week, 378,000 people filed initial unemployment claim, down…
News round-up: 9 Oct 2008
Today, the round-up is going to be exclusively on the credit crisis. The crisis has a distinctively European bent to it now as much of the news for the day comes from that area. But, Asia is also getting into the mix.In the US, the…
McCain repackages bailout proposal and labels it his own
Apparently, John McCain did even worse than I thought in last night's debate. He and Barack Obama both failed to present a step-by-step plan as to what they were going to do about America's banking crisis. They both merely rehashed old…
The Swedish roots of the UK bailout plan
Gillian Tett makes a good point in today's FT about the clear benefits of a systemic solution to crisis. Where the UK policy makers were bumbling along until today, they have taken the problem firmly in hand, finally recognizing the…
Quote of the day: “That One”
Every U.S. Presidential election has a defining moment in the Presidential debates. I think we saw this election's moment last night. Throughout last night's debate, it was obvious that John McCain had a sense of disdain for Obama he…
Is Barack Obama palling around with Terrorists?
Check out Jon Stewart's take on this.