According to MarketWatch (part of the Wall Street Journal empire) Economists they had surveyed had expected New house sales in the U.S. to INCREASE slightly. Does MarketWatch get some perverse pleasure in surveying ONLY the stupiest economists. Because I am finding the joke wearing thin. Existing house sales off a cliff. Durable Goods Orders following …
Well after the debale of house sales now we have orders od US manufactured Durable goods. And it too is not at all good. The median growth expected by economists the Bloomberg has surveyed was 3% growth. That’s what economists IN the markets expected on the basis of their huge expertese and years of experience. …
Yesterday Standard and Poors downgrafed Ireland’s credit rating one step down from AA to AA- with a continued negative outlook. Meaning further downgrades are quite possible in the next year. S&P’s reasons for the downgrade were concerns that the cost of bailing out Ireland’s financial sector would continue to grow as it has done relentllessly …
Huijin, the domestic part of China’s sovereign wealth fund has come in for some criticism from Western banks and experts this morning. Huijin’s crime is that it is going to have a large bond sale to raise money which it is then going to use to re-capitalize some of China’s main banks. So far so …
Well the Dow closed the day at 1040. Just above the magic 10k. The Market headline says “at lowest level since July 7th.” But this misses the point. The point about today’s close is not that it is down at the 10k level nor even that today’s drop was a massive 134 points after a …
Today could be the day. Summer seems to be ending early and events are very definintely in control. Policy makers, however, are divided, fractious and out of ideas. Days of falling markets and the declines are getting steeper. We are adrift. In the US, the FOMC (Fed Open Market Committee) was completely divided on whether …
I think Japan is in all kinds of trouble. The Yen is trading at its highest against the Dollar in 15 years. Which is killing Japan exports. Japan’s economic growth is nearly all export driven and its growth shunted to a halt last quarter going from 1% to 0.1%. There is the definite feeling that …
There’s nothing quite like Mergers and Aquisitions to raise the animal spirits of the markets. There’s something primal and prurient about watching them. It’s like seeing one of those really huge snakes open its jaws impossibly wide as it slowly wriggles forward, engulfing some still breathing animal that’s as big or bigger than it is. …
Last week was a disaster for those who would have us continue to have faith that growth will save us. This week the markets must rally to restore hope to the faithful. If it does not there will be a crisis – of faith. The signs of growth are like the promise of Christian Redemption. …
I wrote quite a lot about GM when it was going down because it was such a bell-wether of America as a whole. So I think it only fair to write something in the same vein, now it is coming back. GM is preparing to offer investors new shares in its re-vamped company. To me, …
What’s good for GM… with an Apocalypse Now after taste Read More »
