So maybe the economy isn’t headed over another cliff after all? Last week’s economic data wasn’t great but it was enough to rally the market 3.5% just because it wasn’t as awful as expected. I haven’t been particularly worried about the prospect for a double dip into recession land because I’m an eternal optimist - [...]
The economic data released last week was pretty darn lousy but managed to be overshadowed by the Fed decision to re-engage the great electronic printing press and use the cash flow from their portfolio to buy Treasuries. With interest rates at generational lows I am a bit confused about what exactly that is supposed to [...]
The GDP report last Friday confirmed what all sentient beings outside the immediate DC area already knew - the recession was worse than the official data keepers told us at the time it unfolded. That fits a pattern of cluelessness on the part of policymakers who are preternaturally optimistic and thanks to taxpayer funded salaries, [...]
Some not as bad as expected news on the real estate markets, some pretty damn good earnings, a Bernanke assurance that he remains vigilant at the controls of the printing press and the release of the results of the European bank stress tests were enough to move the US stock market higher by 3.5% last [...]
