Monthly Archives: July 2009

cash for clunkers may cost govt. up to $45,354 per vehicle

[Skip to the end] (short version) “Cash for Clunkers” Program May Cost $45,354 per vehicle By Avery Goodman (Seeking Alpha) — The “Cash for Clunkers” program has been a “great success”, at least according to the government, and the auto … Continue reading

Posted in Government Spending | Tagged |


[Skip to the end] Karim writes: Most important info in the report is the benchmark revisions: The first year of the recession (Q4 2007-Q3 2008) was revised from -0.8% to -1.9%. This adds a full percentage point to the Fed’s … Continue reading

Posted in GDP | Tagged |

SZ News: Leading Indicators Rise, Signaling Slump Is Abating

[Skip to the end] Yes, seems to be world wide. The combined global fiscal measures both pro active and ‘automatic’ seemed to have halted the slide. Depressions are highly improbable with non convertible currency and floating fx policies. Swiss Leading … Continue reading

Posted in Deficit, Government Spending | Tagged |

NY FED – Shadow Financial Market

[Skip to the end] The findings add support to my proposal to ban banks from all secondary markets Federal Reserve Bank of New York Staff Reports The Shadow Banking System: Implications for Financial Regulation Tobias Adrian Hyun Song Shin Staff … Continue reading

Posted in Banking, Fed |

TIPS 5 year 5 years fwd

This used to be one of the Fed’s major concerns as they are steeped in inflation expectations theory. It could still signal a need to keep a modestly positive ‘real rate’ though the large ‘output gap’ is telling them otherwise. … Continue reading

Posted in Fed, Trading, Treasury | Tagged , , |

JN Daily | Jobless Rate Moves Higher, CPI drops, HHold Spending Misses Expectations

[Skip to the end] Looks like China is starting to stabilize Japan, which means it is probably helping the eurozone some as well. Shipments Up Across Industries In June As Production Recovers Cost Cuts Help Electronics Firms Reduce Losses In … Continue reading

Posted in China, Japan | Tagged |

Excellent NY Fed staff report on qantitative easing

[Skip to the end] This should be more than enough to dismiss concerns of reserves influencing lending, apart from price. Hope they do a full public relations effort on this. A touch weak on fully dismissing the ‘money multiplier’ but … Continue reading

Posted in CBs, Fed | Tagged |

NY Fed’s Dudley tees off on reserve-driven inflation view

[Skip to the end] Dudley almost has it. NY Fed’s Dudley tees off on reserve-driven inflation view As Dudley notes, the fears of higher inflation expressed in that survey are likely being influenced by the Fed’s balance sheet expansion, which … Continue reading

Posted in CBs, Government Spending, Inflation, Interest Rates | Tagged |

EU Daily | ECB sees ‘turning point’ in lending conditions

[Skip to the end] Yes, central banks have finally managed to restore a degree of ‘market functioning’ after full year or more of ‘extraordinary measures’ which mainly served to demonstrate a lack of understanding of basic monetary operations. Note that … Continue reading

Posted in CBs, ECB | Tagged |

Geithner Pledges Smaller Deficit as China Talks Start

[Skip to the end] Geithner Pledges Smaller Deficit as China Talks Start By Rebecca Christie and Rob Delaney July 27 (Bloomberg) — Treasury Secretary Timothy Geithner pledged the U.S. will shrink its budget deficit over the next four years and … Continue reading

Posted in Asia, Bonds, China, Currencies, Emerging Markets, GDP, Government Spending | Tagged |