Daily Archive: Tuesday, May 12, 2009

Niall Ferguson

[Skip to the end] Someone needs to tell this guy the deficit spending IS the private savings. If any of you know him, please forward this, thanks. Niall Ferguson jumped in with both feet. Calling the government’s growth forecasts ‘crazily optimistic’ he predicted federal debt would soon reach 140% of GDP and ...Read More

A note on deregulation

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U.S. Trade Gap Widens on Oil Imports

[Skip to the end] (email exchange) >    >   On Tue, May 12, 2009 at 9:20 AM, wrote: >   As you predicted…. >    You mean as I feared! Higher oil = dollars easier to get overseas = weak dollar all else equal (which it never is, of course) Higher crude = higher headline CPI = ...Read More

Fed Disclosure of Member Bank Borrowings

[Skip to the end] (email exchange) >    >   On Tue, May 12, 2009 at 10:35 AM, wrote: >    >   We are talking trillions of dollars from our pocket… >    The Fed is lending to its member banks. That is the same as the banks taking in deposits insured by the FDIC. Banks specific loans ...Read More

China’s Reserve Strategy

[Skip to the end] (email exchange) >    >   On Tue, May 12, 2009 at 11:22 AM, J A Kregel wrote: >    >   And you can add to this the undeclared policy (confirmed to me last week) that >   Chinese reserve diversification to hedge dollar exposure will be primarily in >   stockpiling natural resources, not currency diversification ...Read More

2009-05-12 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) Trade Balance (Released 8:30 EST) Exports MoM (Released 8:30 ...Read More

Eurozone Stress Tests

[Skip to the end] The eurozone has decided to keep its banks running via government insured liabilities without regard to capital levels. The new ‘tests’ are most likely for show only. All governments with non convertible currency and floating FX policy have this option, which allows banks to continue indefinitely with or ...Read More

Obama video White House Correspondent’s Dinner

[Skip to the end] Obama Video from the White House Correspondent’s Dinner May 9 (C-SPAN) [top] ...Read More

Obama Serious About Balancing the Budget

[Skip to the end] Yes, it’s early, but seems he’s serious about his campaign promise to balance the budget. The economy won’t see the drop in demand until it actually happens. But valuations can adjust to rising tax rates long before GDP does. Obama Proposes New Taxes on Dealers, Life Insurance by ...Read More