Monthly Archives: March 2009

Mosler to Obama- be careful what you wish for!

[Skip to the end] The last thing we need to do is encourage policies that empower billions of foreign consumers to compete with us for scarce real resources and diminish our real terms of trade. But that’s what happens with … Continue reading

Posted in Obama | Tagged |

Geithner plan: Let them clip coupons

[Skip to the end] The Geithner plan is the latest move in what is shaping up to be the largest upward distribution of real wealth in US history. Its stated purpose is to provide high enough risk adjusted returns to … Continue reading

Posted in Big Think | Tagged |

UK inflation 3.2%

[Skip to the end] Looks to me like the theory that a large output gap/high unemployment will control ‘inflation’ (for anything more than the very short term) is about to fall by the wayside, just like the theory that a … Continue reading

Posted in UK | Tagged , |

Why it is likely the banks ARE solvent

[Skip to the end] The FDIC has a legal responsibility to take over insolvent banks. They have aggressively done that, including taking over WAMU for liquidity concerns when it was legally solvent. I view that as overly aggressive, as the … Continue reading

Posted in Uncategorized | Tagged , |

China negotiating on the dollar

[Skip to the end] Ridiculous, of course, but they are playing the ignorance of our leadership for all its worth. They know we don’t know it’s a bluff, and they have us on the defensive. That’s what happens with leadership … Continue reading

Posted in China | Tagged , |

CA Real Estate

[Skip to the end] Thanks- more evidence it all could be turning the corner. New Supply of ‘jumbo’ financing in pipeline by Kenneth R. Harney Mar 22 (LA Times) — LA Times says jumbo mortgage financing to increase – major … Continue reading

Posted in Uncategorized | Tagged , |

2009-03-24 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 … Continue reading

Posted in Daily | Tagged , , , |

Existing Home Sales Rose 5.1% in February

[Skip to the end] Typical biased reporting. The fall in price from last year is emphasized while the increase from last month isn’t even mentioned. Existing Home Sales Rebound, but Prices Plunge by Jeff Bater Mar 23 (WSJ) — Existing-home … Continue reading

Posted in Housing | Tagged |

Obama on fiscal limits

[Skip to the end] This says it all. And only days after Bernanke explained how government spends by changing numbers in accounts. Obama is either ignorant or subversive: From 60 minutes last night: Obama on 60 minutes Mar 22 (CBS) … Continue reading

Posted in Obama | Tagged , |

China to keep buying Treasuries

[Skip to the end] Clever, those Chinese. Now they get to keep their currency down to support their exports while claiming they are acting altruistically to support Obama. Fortunately for us this keeps the imports flowing our way and supports … Continue reading

Posted in Uncategorized | Tagged , |