September, 2011
To get us out of the recession
To get us out of the recession, U.S. needs president who will drill for oil, deal with Chinese currency Stocks are dropping like stones tossed into a summer lake, and the economy dances along the precipice of a second recession.
Free Trade Is Failing America
No economic policy could better serve Americans than genuine free trade but open trade policies are failing Americans. The basic idea is compelling. Let each nation do more of what it does best, and specialization will raise productivity and incomes.
September 27th 2011
The equities markets continued yesterday’s rally despite weak U.S. economic data. The Case-Shiller index showed home prices fell 4.1 percent in the 12 months from July 2010. Consumer Confidence came in at 45.4 for the month of August. U.S. government might avoid a shut down after the Senate approved a bill to fund the government [...]
Warren Buffett Intervention
Billionaire investor Warren Buffett’s company, Berkshire Hathaway, announced a share buyback program today. Berkshire’s share price had fallen to $98,952 per share from the 52-week high of $131,463 per share. Buffett felt Berkshire is trading below its value, thus the share buyback will create shareholders value. Berkshire is willing to pay up to 110% of [...]
Forecasts for the Weeks of September 26 and October 7
Here are the forecasts for upcoming economic data.
Reversing
While the global equities markets are being sold off in fear of a second global recession, there are also new developments in other markets. The emerging markets Central Banks have been selling the U.S. dollar to support their own local currencies. The emerging markets currencies have been losing value as the global economy slows. In [...]
Jobs, Deficits and the Reelection of Barack Obama
President Obama faces three daunting challenges-jobs, deficits and reelection. His actions reveal he places a second term ahead of fixing the economy and federal finances. If Mr. Obama runs on the economy-he loses. Too many voters are unemployed, underemployed, standing discouraged on the sidelines, or watching their paychecks dwindle for Mr. Obama to win. And [...]
The Day After
One day after the Federal Reserve’s announcement of “Operation Twist”, a move to bring down long-term borrowing costs, the world sold off everything except the U.S. long-term bonds and the U.S. dollar. Equities took a big hit, starting in the overnight Asian markets. Japan’s Nikkei Index was down 2 percent and the Hong Kong Hang [...]
Courting another Recession
Stocks are dropping like stones tossed into a summer lake, and the economy dances along the precipice of a second recession.
Top News
- Sprint raises Clearwire offer, not enough for some May 21, 2013By Sinead Carew (Reuters) - Sprint Nextel Corp raised its buyout offer for wireless service provider Clearwire Corp to $3.40 per share, but the new bid was not high enough to impress some investors. Clearwire shares almost immediately traded around the new offer price, having consistently traded well above the old $2.97-per-share bid. Sprint announced the re […]
- Ireland rejects blame for Apple's low tax rate May 21, 2013By Conor Humphries and Padraic Halpin CORK/DUBLIN (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries. The Irish government, which has seen t […]
- JPMorgan's Dimon faces shareholder referendum May 21, 2013TAMPA, Fla. (AP) — Jamie Dimon, chairman and CEO JPMorgan Chase, told shareholders Tuesday that last year's $6 billion trading loss had been expensive and "extremely embarrassing," but he also asked shareholders not to fixate on the issue. […]
- SAC's Martoma says U.S. impedes defense in fraud case May 21, 2013(Reuters) - Former SAC Capital Advisors portfolio manager Mathew Martoma said the government is impeding his ability to defend against criminal insider trading charges by trying to link him to an alleged long-running conspiracy for which it has only "vague" details. In papers filed on Monday night in U.S. District Court in Manhattan, Martoma said h […]
- Former IRS chief: Can't say how targeting happened May 21, 2013WASHINGTON (AP) — The man who led the Internal Revenue Service when it was giving extra scrutiny to tea party and other conservative groups seeking tax-exempt status told Congress on Tuesday that he knew little about what was happening while he was still commissioner. […]