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No Fed cut
The Fed has not cut interest rates and is still worried about inflation as much as economic growth. I certainly felt the Fed was going to cut and was going to have a more dovish comment than it has. The investor reaction was to send…
AIG situation looks critical
One reason I came out this morning against the Fed and the U.S. Treasury's decision to allow Lehman Brothers to go bankrupt is the arbitrariness of its decision-making process. Lehman is easily more of a systemic risk than Bear Stearns and…
US Inflation down setting up Fed cut
The inflation rate fell to 5.4% in August in the US, paving the way for a cut in interest rates later today by the Federal Reserve.With oil prices droping by one-third over the past few months, it was a question as to whether the data would…
After a 500 point loss, where next?
It's 8AM on the morning after a 500 point loss on the Dow. It could have been a lot worse, honestly. So I'm happy to have gotten away with that. Nevertheless, trading in Asia was not exactly confidence building with the Nikkei 225 down…
Healthcare in America and eating our young
I just read a post on the blog Duck's Pond about how the crisis in health care in the U.S. will lead to some sticky problems for baby boomers. It's an interesting take because it's not the straightforward…
Lehman’s bankruptcy: putting the cart before the horse?
Update Mar 2009: There is a pernicious little piece of historical revisionism going around that the Lehman bankuptcy did not matter. I am reposting this as a retort.
Note the piece by James Suriowiecki which induced me to re-post:
In…
How safe is your money?
I am not a certified financial planner and therefore, do not give financial advice or investment advice. Anyone looking for financial advice is advised to see a independent certified financial planner to help them with their investments.The…
Congress ready with second stimulus package
Apparently the U.S. House of Representatives is looking to get another stimulus package going. In the wake of a financial meltdown, the U.S. Government has decided to act forcefully and take a stand against the forces buffeting the U.S.…
National City gets approval to raise cash
Updated 535PM EST on 16 Sep 2008 to reflect information from this press release:National City Completes $7 Billion Capital RaiseWhile all eyes were focused on Lehman Brothers this weekend, many other players were making their moves to shore…
Industrial production implodes
The real economy in the U.S. is already in recession, even as we fight the effects of a financial market meltdown. Industrial production numbers for the United States came out and it was down a massive 1.1% for August. That means a…