Financial Rescue Approaches GDP as U.S. Pledges $12.8 Trillion The U.S. government and the Federal Reserve have spent, lent or guaranteed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.
And CNNMoney.com provides us with a handy table/scorecard of what [...]
From the monthly archives:
March 2009
The dollar is rallying, and yet …
Chinese Banker Aims to Diminish Dollar A major power player in China’s banking system is lobbying for the creation of an international currency unit. He suggests that we start with a blend of the dollar, pound, yen, and euro. Find out what this means for the dollar.
Oil is pulling back [...]
I’m talking to Al Korelin at 2:00; I assume it’s about gold. I put a lot of stuff together but then the web ate my blog post. Thanks, Wordpress! Anyway, here are the highlights …
First, a chart of the amount of gold flowing into gold ETFs over the last year. It’s just gi-normous.
Then, a few [...]
The news continues to horrify me and fascinate me in the same time, in a “Oh my God, that schoolbus just got hit by a train,” sort of way.
Some good reading for today …
Mr. Taleb Goes to Washington
Now that the catastrophe is here, Taleb’s anger at the economic establishment that drove us over this cliff—and [...]
It’s starting, just like I predicted it would over 10 years ago. And it’s on time. By 2011 — which I have pointed out several times, is what I call a ‘panic cycle’ year in the currency markets — the dollar should be gone as a reserve currency.
See articles below, both the U.N. and [...]
The final numbers are in, and the fourth quarter saw GDP shrink at a 6.3 percent pace at the end of 2008, the worst showing in a quarter-century, and probably isn’t doing much better now. Still, a 6.3 percent decline is better than the 6.5 percent that economists were expecting.
Meanwhile, new claims for unemployment benefits [...]
Here’s a chart I find interesting …
There’s a lot to look at on here, but basically, it looks like the S&P 500 pulled back and closed right at support yesterday. Indicators are pointing higher. My next targets on the S&P 500 would be 904 and then 976. So yes, this is a bear market rally, but [...]
This is a story that used to be told by Tommy Douglas, a Baptist minister and Canadian politician who was voted “The Greatest Canadian of All Time” in 2004. He died in 1986. The Story of Mouseland is a story he used to tell in the 1940s …
It’s the story of a place called Mouseland. [...]
Yesterday, we saw the two-week rally reignite after Treasury Secretary Tim Geithner rolled out his plan to help banks remove as much as $1 trillion in bad assets from their books. Also helping the markets was news that home sales increased as prices went down. Traders are happy to see any indication that the glut [...]
Gold and silver and hot, but for the past month, copper has been a lot hotter. I did a video blog-cast about that yesterday that will hopefully be up on the site today. Here is a chart from the vlog …
Here is what I’m reading today …
UN Panel Says World should Ditch US Dollar A U.N. [...]
