Author Archive

Re: media influence

On Jan 21, 2008 6:45 PM, Bobby wrote: > Hi > > Don’t you think the Media has something to do with this. Hi, yes definitely, and it’s always that way- goes with the territory. adds to volatility. Every time you turn on the TV, open a newspaper, read the web, it ...Read More

I’ve been wrong on the Fed

> Hi > > You’ve been looking for this kind of financial trouble for a bit over in Europe. Good call Warren. > > Bobby. > Thanks, yes, I called it from mid 2006 – weakness due to deficit too small to support the credit structure, but inflation racing up as food/fuel ...Read More

2008-01-21 Update

Major themes intact: weak economy higher prices Weakness: US demand soft but supported by exports. US export strength resulting from non resident ‘desires’ to reduce the rate of accumulation of $US net financial assets. This driving force is ideologically entrenched and not likely to reverse in the next several months. In previous ...Read More

Re: meltdown?

(an interoffice email) > … He’s here w/me now & also is very concerned over the entire > spectrum, especially all the 5/1 ARM’s & 2nd mgtg paper most > refinancing this year. Ie: orginally good credits, now not. A ton of > 5/1 Arm paper was done w/ escalations up 40/50% ...Read More

Big think: Q and A’s

Response to questions from big think. Is fiscal responsibility essential to creating a stronger, more prosperous nation, or is the matter overhyped? Worse, the matter is totally confused. By identity, government budget deficits = ‘non-government’ accumulation of financial assets denominated in that currency. That means net savings desires of the non-government sectors ...Read More

ECB reiterates rate hike warning

ECB reiterates rate hike warning FRANKFURT(AFP): The European Central Bank (ECB) reiterated Thursday a strong warning about eurozone inflation, calling for price and wage moderation and suggesting it would raise interest rates if necessary. A monthly ECB bulletin said it was “absolutely essential” that long-term inflation be avoided, underscoring that the bank ...Read More

2008-01-18 US Economic Releases

Leading Indicators (Dec) Survey -0.1% Actual -0.2% Prior -0.4% Revised n/a Down some, but not terrible. U. of Michigan Confidence (Jan P) Survey 74.5 Actual 80.5 Prior 75.5 Revised n/a Up, but not great – not yet the stuff of recession. U. of Michigan Confidence TABLE Note how high the current levels ...Read More

Lacker speech (edited)

NOTE: Particularly the last 3 paragraphs on inflation, as he has always been hawkish: Remarks by Jeffrey M. Lacker President, Federal Reserve Bank of Richmond The Economic Outlook for 2008 Risk Management Association Richmond, Virginia January 18, 2008 Home prices increased significantly during the long boom, particularly in local markets with restricted ...Read More

Fed’s Fisher

Doesn’t get any more hawkish than this. Well worth a quick read. Richard W. Fisher Challenges for Monetary Policy in a Globalized Economy Remarks before the Global Interdependence Center Philadelphia, Pennsylvania January 17, 2008 Thank you, Charlie [Plosser]. I am grateful for the invitation to speak to the Global Interdependence Center. (NON ...Read More

2008-01-18 China Highlights

Highlights: China GDP growth to ease to 10.5 percent Yes, but… Property prices in major Chinese cities up 10.5% in December Yuan Gains for the Sixth Week, Its Longest Rising Streak in Seven Months Local authorities urged to make interim price control plans Banks show record figures ♥ ...Read More