Uncategorized Archive
Bank of France says Fed overreacted to market decline
Uncategorized
Feb 19, 2008
Interesting they would take a shot like that at the Fed. Probably concerned about Euro strength and the US gaining export share. Bank of France Says Fed Overreacted to Market Decline By Francois de Beaupuy (Bloomberg) The Bank of France said the U.S. Federal Reserve may have cut interest rates too much
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2008-02-14 JN Highlights
Uncategorized
Feb 14, 2008
News Headlines: Japan Economy Grows 3.7%, Twice as Fast as Expected Oct-Dec GDP Grows Annual 3.7% On Brisk Domestic, External Demand Consumer Sentiment Fell For 4th Straight Month In Jan Dec Revised Industrial Output Rises 1.4% MOF Tsuda: GDP Confirms Recovery Despite Some Weakness GDP COMMENT: Consumer Confidence Key To Future Growth
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Es el momento de comprar acciones en Wall Street
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Jan 27, 2008
I don’t speak sufficient spanish to know how this reads. Comments welcome! WARREN MOSLER, UN ECONOMISTA SINGULAR “Es el momento de comprar acciones en Wall Street†Mosler es a la vez un tÃÂÂpico financista que administra fondos de inversión y un pensador poskeynesiano que fabrica autos deportivos. En la peor semana de
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Caterpillar report – what export economies look like
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Jan 25, 2008
Caterpillar Sees ‘Definite Threat’ of US Recession (CNBC)Caterpillar’s fourth-quarter earnings rose more than 10 percent, helped by strong sales to mining, energy and construction customers outside the United States, but the company warned it sees a recession as a “definite threat” to the U.S. economy. The Peoria, Ill. company, which is often
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Falling default credit crisis
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Jan 24, 2008
The jobless recovery morphed into the full employment recession characterized by falling credit defaults: Global loan defaults down in 2007 but expected to rise in 2008 (Thomson Financial) Twenty issuers defaulted on 2.9 bln usd in syndicated bank loans in 2007, down from 32 issuers and 6.3 bln usd in loans in
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THE ECB HAS A SINGLE MANDATE, INFLATION, WITH NO INCENTIVE TO DEVIATE
Uncategorized
Jan 24, 2008
Not to mention my bent is inflation and growth are, at best, very weak functions of interest rates, and they work mostly through the cost side, but that’s another story – see ‘MANDATORY READINGS‘. ECB’s Weber Says Interest Rates ‘Accommodative’, Dismisses Cut Bets by John Fraher and Andreas Scholz (Bloomberg) European Central
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Mortgage applications soar
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Jan 16, 2008
Home loan demand surges to near four-year high By Julie Haviv (Reuters) U.S. mortgage applications surged last week, with demand hitting its highest in nearly four years as interest rates plunged, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both
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Indexing French wages
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Jan 13, 2008
A bit of structural inflation being introduced: Sarkozy Plans to Index Civil Servants’ Salaries to Inflation by Helene Fouquet and Francois de Beaupuy (Bloomberg) French President Nicolas Sarkozy said he’d index civil servants’ salaries to inflation and make good on unpaid overtime hours to improve their purchasing power. “It’s a fact that
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Countrywide fundings up
Uncategorized
Jan 09, 2008
Another sign of a possible October/November bottom: Countrywide fundings inch higher CALABASAS, Calif. (AP) – Countrywide Financial Corp., the nation’s largest mortgage lender, said Wednesday its December loan fundings rose 1 percent from November and were ahead of internal forecasts. The stock, which lost nearly a third of its value on Tuesday
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Re: banking system proposal
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Jan 06, 2008
Dear Philip, Yes, as in my previous posts, bank stability is all about credible deposit insurance. I would go further, and have all regulated, member banks, be able to fund via an open line to the BOE at the BOE target rate. That would eliminate the interbank market entirely, and let all
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