Fri 18 Apr 2008
So this morning there are huge changes in everything tied to the weaksauce lollerdollar, namely gold, oil, and EUR/USD and USD/JPY… because the European banks got caught with their pants down re: LIBOR rates. Credit markets overseas apparently aren’t as sunshine-and-LOLlipops as they would have had us believe. Alas.
Thu 17 Apr 2008
SignOnSanDiego reports (as do many others) growing calls that the calculation of “core inflation” doesn’t do anyone any favors since it excludes the prices of food and gas - things that most of us buy more often than, say, flat-screen televisions. I can tell you the TVs are getting cheaper. $3.50 gas and $5 milk, those, not so much.
2.4%, huh?
Wed 16 Apr 2008
Mah stimulus… where iz it?
CNBC reports that SF Fed Prez Janet Yellen came out today and said she sees little to no growth, and that “the economy has all but stalled and could even contract” over the first half of the year. Market yawns, wonders why this is news. Bonus, some lol’in stallin’:
Sun 13 Apr 2008
From Reuters. Bernanke, the head of the U.S. central bank, acknowledged in response to questions that the economic crisis may be the most severe the United States has faced since the second World War.
At the same time, he said the current slowdown is nothing like the Great Depression of the 1930s, in part because the Fed has been far more proactive in its response.
Sun 13 Apr 2008
WASHINGTON, April 12 (Reuters) - Financial leaders on Saturday urged the International Monetary Fund to sharpen its oversight of the global economy, which is burdened by surging food prices and a credit crisis that shows no end in sight … U.S. Treasury Secretary Henry Paulson warned of “more bumps in the road.”
Out of my fridge, Hank!
