Consumers were less rosy in July, a somewhat surprsing finding given the recent rise in equities and stabilizing gas prices.
Financial regulation is the flavor of the day on Capitol Hill today. Bernanke, Geithner and Bair are all speaking on the relative merits and pitfalls of slicing up the regulatory pie. Fascinating stuff, but I suggest you visit Bloomberg if … Continue reading
The US is pursuing the right policies but policies have consequences. One of those consequences is inflation. He says a dollar will buy a lot less in 10-years than it does today. EUR/USD has gone a bit bid on the … Continue reading
Just in case you’re starting to get too ueber-bullish, here’s a reminder that times are still tough out there in the real world. Microsoft, the erstwhile darling of the software industry, has isssued its latest revenue figures and they are … Continue reading
Continuing claims also dropped, to 6.225 mln from 6.313 mln. There are still the auto factory distortions in the data, it should be noted and the drop in continuing claims could be the result of benefits running out on jobless … Continue reading
White House budget director Orszag is on the wires, saying the economy is no longer on the brik of disaster but that recovery is not yet robust. 2009 will be difficult and unemployment will remain stubbornly high over the next … Continue reading
Goldman just announced that they have paid the US government $1.1 bln to buy back warrants issued in connection to the TARP capital injected into the firm last fall. Goldman says including the preferred dividends paid, the TARP transaction netted … Continue reading
Assistant FinMin Zhu is on Reuters newswires hoping the US can gradually reduce its fiscal deficit and that the US does what it can to keep the USD steady and to protect Chinese investments. The USD has rallied marginally after these comments … Continue reading