Monthly Archive:: December 2008

2008-12-31 USER

[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) Initial Jobless Claims (Released 8:30 EST) Continuing Claims (Released 8:30 EST) Jobless Claims ALLX (Released 8:30 EST) NAPM Milwaukee (Released 10:00 EST)   Karim writes: The conference board survey of ...Read More

Senate Minority Leader McConnell to obstruct fiscal adjustment?

[Skip to the end] McConnell Urges Caution in Debate on Economic Stimulus Measure Dec. 29 (Bloomberg) — Senate Minority Leader Mitch McConnell said he wants to slow consideration of the economic stimulus package Democrats are drafting, warning that the measure sought by President-elect Barack Obama invites wasteful spending. “A trillion-dollar spending bill ...Read More

Re: Fed investment managers

[Skip to the end] (email exchange) >    >   On Tue, Dec 30, 2008 at 5:53 PM, Andrew wrote: >    >   The Fed chose as investment managers; Blackrock, GSAM >   (Goldman Sachs Asset Management), PIMCO and Wellington >   Management. >    More foxes in the hen house? [top] ...Read More

Re: Sector financial balances and fiscal stimulus

[Skip to the end] (email exchange) Good stuff, thanks! (Of course, I prefer to say ‘removal of fiscal drag’ rather than ‘fiscal stimulus!’ ) >    >   On Tue, Dec 30, 2008 at 3:17 PM, Scott wrote: >    >   FYI . . . looking at the data on the sector financial balances for >   Q1, Q2, ...Read More

Yield Curve

[Skip to the end] >    >   from: Warren Mosler >   to: CNBC >    >   The long end is higher than ‘equilibrium’ due to the Treasury >   issuing longer term paper. >    >   This adversely alters investment and price signals. >    >   When the Fed buys it the curve returns to where it would >   have been if the government ...Read More

2008-12-30 USER

[Skip to the end] ICSC UBS Store Sales YoY (Released 7:45 EST) ICSC UBS Store Sales WoW (Released 7:45 EST) Redbook Store Sales Weekly YoY (Released 8:55 EST) Redbook Store Sales MoM (Released 8:55 EST) ICSC UBS Redbook Comparison TABLE (Released 8:55 EST) S&P CS Composite 20 YoY (Released 9:00 EST) S&P ...Read More

Re: Fifty Herbert Hoovers

[Skip to the end] (email exchange) >    >   On Mon, Dec 29, 2008 at 11:47 AM, Russell wrote: >    Fifty Herbert Hoovers By Paul Krugman No modern American president would repeat the fiscal mistake of 1932, in which the federal government tried to balance its budget in the face of a severe recession. ...Read More

Sector Analyis Update

[Skip to the end] Euro Area Sector Analysis (Released n/a EST) US Sector Analysis (Released n/a EST) Japan Fiscal Balance as % of GDP (Released n/a EST) Euro Area Sector Analysis (Dec 17)   Karim writes: Euro-middle of historical range. But with government deficits nearing Maastricht limits (though those limits will be ...Read More

China back pushing its exports and ignoring Paulson

[Skip to the end] Recession Opens U.S.-China Rift Paulson Talks Bridged By Kevin Hamlin and Mark Drajem Dec. 29 (Bloomberg) — The global recession is re-exposing fissures in U.S.-China relations that Treasury Secretary Henry Paulson spent more than two years smoothing over. Hoping Obama lets the world export their brains out to ...Read More

Stiglitz article

[Skip to the end] The Seven Deadly Deficits By Joseph E. Stiglitz When President George W. Bush assumed office, most of those disgruntled about the stolen election contented themselves with this thought: Given our system of checks and balances, given the gridlock in Washington, how much damage could be done? Now we ...Read More