Global stock markets got beaten up overnight and the carnage continued here in the U.S. Dow Jones down 350 points by closing bell – biggest point loss of the year NASDAQ down 122 points Possible Grexit sparked sell off in FOREX markets Banks in Greece closing, sending masses to the ATM machines Euro ended up […]
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For U.S., Puerto Rico Bigger Tragedy than Greece – Ep 90 Read More »
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Help Me Correct Wikipedia’s Liberal Bias Read More »
It looks like there is going to be some kind of deal to avoid the “Grexit” Greek’s exit would be great for Europe, but it would not be politically attractive for either side As long as Greece stays in the Eurozone, the Greek government can continue to blame Germany or Brussels for their problems So-called
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Greece is a Sideshow. U.S. is the Main Event – Ep.89 Read More »
Today was the expected day for expected rate hikes, indicating economic “lift-off” The June rate hike is off the table and everyone is focusing attention on September The prepared remarks are just a smokescreen to maintain the pretense that the economy can withstand a rate hike The Q&A session after the the prepared remarks were
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Yellen Almost Admits Fed Not Ready to Raise Rates Read More »
Dow under pressure on the back of EU talks with Greece There is a lot of room for the market to decline pending the Fed’s announcements The consensus is that rates will hike September or later If Fed does not rates in September, Election year next year might also put off rate hikes Bloomberg article
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Wall Street Begins to Question Fed’s Narrative – Ep. 88 Read More »
It is well known that I don’t think much of the ability of government officials to correctly forecast much of anything. Alan Greenspan and Ben Bernanke have made famously clueless predictions with respect to stock and housing bubbles, and rank and file Fed economists have consistently overestimated the strength of the economy ever since their
The Punch Bowl Stays Read More »
Once again, a week of worse than expected economic data punctuated by another better than expected non-farm payroll report from the government ADP private sector payroll report was slightly below estimates 5,000 manufacturing jobs lost – 3rd consecutive monthly decline Unemployment rate dropped Labor participation rate up to 62.9 – .2% above lowest point Large
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Con Job Report – Ep. 87 Read More »
