Monthly Archives: January 2009

Obama plan

[Skip to the end] A rising criticism is that the Obama proposal has no exit strategy. The Obama proposal IS the exit strategy from falling output and rising employment. The target is the economy. Fiscal policy is the tool to … Continue reading

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Japan Data/Outlook

[Skip to the end] Karim writes: In my years of following G7 economies, I have never seen weaker data than we have had in Japan in recent months. Today’s data: Industrial production -9.6% in December (record monthly fall), following up … Continue reading

Posted in Japan, Karim |

Bank Bailouts have it upside down

[Skip to the end] >    >   On Thu, Jan 29, 2009 at 8:52 PM, Russell wrote: >    Bank Bailout Could Cost Up to $4 Trillion: Economists Jan 29 (Reuters) — Goldman Sachs estimated that it would take on the order of … Continue reading

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2009-01-30 USER

[Skip to the end] GDP QoQ Annualized (Released 8:30 EST) GDP YoY Annualized Real (Released 8:30 EST) GDP YoY Annualized Nominal (Released 8:30 EST) GDP Price Index (Released 8:30 EST) Core PCE QoQ (Released 8:30 EST) GDP ALLX 1 (Released … Continue reading

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[Skip to the end] Karim writes: Surprise dissent from Lacker who would rather buy Treasuries than utilize the current slew of credit programs (didn’t realize there could be dissents as it related to type of non-traditional easing). Other notes: Economy … Continue reading

Posted in Fed, Karim | Tagged |

Brown Says Monetary Policy Is Having Reduced Impact in U.K.

[Skip to the end] In fact, lower rates are slowing things down by cutting government interest payments, and thereby requiring a higher fiscal adjustment. Brown Says Monetary Policy Is Having Reduced Impact in UK Jan 27 (Bloomberg) — Prime Minister … Continue reading

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China- crude consumption

[Skip to the end] China’s policy stimulus to spur car sales in year of ox Jan 28 (Xinhua) — Due to bigger-than expected cut in fuel prices at the end of 2008 and halved car purchase taxes in effect just … Continue reading

Posted in China, Oil | Tagged |

Goodhart, Crockett on UK mortgage rules

[Skip to the end] First a brief discussion of what the public purpose might be for the banking sector: In early American non monetary farming communities the community would come together to build one home at a time until each … Continue reading

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2009-01-29 USER

[Skip to the end] Durable Goods Orders (Released 8:30 EST) Durable Goods Orders YoY (Released 8:30 EST) Durables Ex Defense MoM (Released 8:30 EST) Durables Ex Transportation MoM (Released 8:30 EST) Durable Goods ALLX (Released 8:30 EST) Initial Jobless Claims … Continue reading

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Fed balance sheet

[Skip to the end] With the Fed balance sheet at just over $2 trillion and an average coupon of maybe 3% that means they are removing about $60 billion a year of interest income from the non government sectors. So … Continue reading

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