The steady stock market uptrend since the November lows was broken this week as the bad economic data and bailout uncertainties continued. Market action was dominated by news in the financial sector. JP Morgan, Citigroup and Bank of America all announced more writeoffs this week although JP Morgan at least was able to report a [...]

As the new Obama administration prepares to enact the mother of all “stimulus” packages, it seems that some still can’t get straight what caused the current worldwide recession. Outgoing Treasury Secretary Hank Paulson still believes the problem was caused by Asians saving too much.

In a recent interview with the Financial Times, Paulson blamed the credit [...]

Another week of depressing economic reports was capped by the report of another 500,000+ jobs loss in December. The stock market fell roughly 5% in its worst weekly performance since November. All in all, not a good week. There were some bright spots in the economic data but overall, there wasn’t much for a bull to [...]