recovery

The data for personal consumption came out yesterday.  However, I have not had a chance to look at the data and write a post until now.  What I see right now is not good for a sustainable recovery.  Let me tell you why and how this could…

David Rosenberg is out today with a bullish Asia commentary.  In today’s “Breakfast with Dave” comments, he says: Asia Revival May Be For Real: Unless the data are lying, we are seeing spreading strength across the continent. This…

Asset bubbles are strange animals. Ideally, you would like to punch the air out of them relatively early before they become a real danger but, in practice, it is not quite so simple. Ben Bernanke and Alan Greenspan have actually both argued…

You will never hear this term again on Credit Writedowns – not from me, not from Marshall or anywhere else.  I am sick of hearing this phrase and am banning it for good – hoping it goes away and dies a gruesome and painful death.…

Marshall Auerback here with some thoughts on the UK given the recent stellar performance of Sterling. “The Conservative belief that there is some law of nature which prevents men from being employed, that it is ‘rash’ to employ men, and…

In the wake of the huge consumer confidence number that caused U.S. markets to rally yesterday, Marc Faber is still singing from the same songbook that I am: delayed end to the recession and a weak recovery. See the video below. The…

This is the conclusion that Wachovia Chief Economist Mark Vitner draws from the very bullish consumer confidence number we have just seen.  To fill you in on the details, the Conference Board said its Consumer Confidence Index leapt…

I received a high-quality note from Marc Chandler, Chief Currency Strategist at Brown Brothers Harriman, which I think worthy of posting.  He makes several points which are game changers regarding fiscal and monetary policy.  They…

A recent post I published on both Credit Writedowns and Naked Capitalism, “Both initial claims and continuing claims now pointing to recovery,” has left the impression that I am a wild-eyed bull – for which I have been duly smacked about…

Now at his buy-side Canadian shop Gluskin Sheff, former Merrill Lynch chief North American economist David Rosenberg is sounding as bearish as ever.  He sees the recent market rally as a bear market rally and envisages a re-testing of…