Monthly Archives: October 2009

Restaurant Index Shows Contraction, Less Capital Spending

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Posted in Uncategorized |

gasoline demand vs 2 yrs ago

[Skip to the end] I use comps from two years ago as last year was unusually choppy. No sign of gasoline demand picking up that I can detect. Starting to look like the Saudis decided to give themselves maybe a … Continue reading

Posted in Comodities, GDP |

Moody’s Lowers Outlook on Portugal,Greece On Downgrade Review

[Skip to the end] The Euro zone remains at risk of a liquidity crisis for the national govts. This doesn’t help. On Thu, Oct 29, 2009 at 5:37 AM, wrote: 5:02 *MOODY’S CHANGES THE OUTLOOK ON PORTUGAL’S Aa2 RATING TO … Continue reading

Posted in EU | Tagged |

Canada ready to buy $US on weakness

[Skip to the end] From: Mario Seccareccia Date: Sat, Oct 24, 2009 at 10:58 AM Subject: RE: *Canada ready to buy $US on weakness To: Warren Mosler Warren, I was at a conference in Quebec City on the issue of … Continue reading

Posted in Currencies | Tagged |

The harder they come, the harder they fall

Diversification became a substitute for credit analysis. But also, if the deficit gets too small, the economy will implode sufficiently to get the deficit back up through falling tax revenues and rising transfer payments. So the ‘tougher’ the private sector … Continue reading

Posted in Government Spending |

mtg apps fall

[Skip to the end] This is not a good sign as purchase apps are back down to very low levels: The mortgage applications index fell 12.3 percent on a seasonally adjusted basis to 562.3, the Mortgage Bankers Association said. Purchase … Continue reading

Posted in Housing |

Conservatives Say Low Rates Are U.K.’s Best Route Out of Slump

[Skip to the end] Earlier this year I thought the UK was on track with their understanding of their monetary system. Recent headlines don’t look so promising: Conservatives Say Low Rates Are U.K.’s Best Route Out of Slump By Robert … Continue reading

Posted in CBs, UK |

Carney Says Intervention Needs Policy to Back It Up to Work

[Skip to the end] CIBC Says Canada Should Consider ‘Bounded Float’ of Currency This would help support exports. (But my first choice would instead be funding an $8/hr job for anyone willing and able to work and a tax cut … Continue reading

Posted in CBs, Currencies | Tagged , |

Roubini Says Carry Trades Fueling ‘Huge’ Asset Bubble

[Skip to the end] Again, maybe right but for the wrong reason. My take is the gold and commodity bubble is due to people (Roubini included) believing Fed policy is inherently inflationary – printing money and all that – when … Continue reading

Posted in Comodities, Currencies | Tagged , , |

Carry trade

[Skip to the end] The article completely misses the point. There is no ‘cash pouring into’ anything. Nor is there a constraint on lending/deposits in any non convertible currency. It is not a matter of taking funds from one currency … Continue reading

Posted in Banking, BRIC, CBs, Comodities, Currencies | Tagged |