Daily Archive: Wednesday, August 20, 2008

The 8000lb bear in the room

[Skip to the end] There’s nothing credit issues can do to GDP that fiscal policy can’t handle. Congress has seemingly figured that out and probably the rest of the world as well as evidenced by the new proposed fiscal packages popping up around the world. Yes, we can lose a bank or ...Read More

Quick update

[Skip to the end] (an email sent late this afternoon) Hi all! Sorry for this impersonal mass email- would have liked to do each individually. I’m in Cleveland now, scheduled to get my mitral valve repaired Monday (aka heart surgery). If so, should be back in this hotel room by Thursday, and ...Read More

Bloomberg: Vitol Reclassified by CFTC as `Non-Commercial’ Trader, WSJ Says

[Skip to the end] Seems the liquidation may be ending, but just guessing. Vitol Reclassified by CFTC as `Non-Commercial’ Trader, WSJ Says by Alexander Kwiatkowski (Bloomberg) Vitol Group was reclassified by the Commodity Futures Trading Commission as a “non-commercial” trader, the Wall Street Journal reported, citing people it didn’t identify. The U.S. ...Read More

Bloomberg: Paulson continues weak USD policy

[Skip to the end] Seems Paulson is still blocking foreign CBs from accumulating USD financial assets. This is a negative for the USD and a negative for US real terms of trade. It does support US exports and reduces the need to add to domestic demand, even as US consumption remains low. ...Read More

2008-08-20 US Economic Releases

[Skip to the end] MBA Mortgage Applications (Released 7:00 EST) MBA Purchasing Applications (Released 7:00 EST) MBA Refinancing Applications (Released 7:00 EST) MBA TABLE 1 (Released 7:00 EST) MBA TABLE 2 (Released 7:00 EST) MBA TABLE 3 (Released 7:00 EST) MBA TABLE 4 (Released 7:00 EST) MBA Mortgage Applications (Aug 15) Survey ...Read More