One step forward, three steps back. That’s what the trading action looks like in the markets now. For every big one day advance of 1% to 5% or more, you’re going to get a corresponding sell off equal or greater to that. It’s not normal to see these kinds of one-day moves. But these aren’t normal times. We’re back on the edge of a credit abyss. Just when investors were convinced that the Gordon Brownification of the world’s banking sector had put the credit crisis behind us, we have more bad news.
October 16th, 2008 | Dan Denning | 3 comments | ContinuedAll Posts Tagged With: "united states"
Australia’s Response to the U.S. Bailout Plan
Normally, bank robberies work the other way. An armed and masked gang walks into the bank, fires a few shotgun blasts, tells everyone to get on the floor, and asks the clerks to fill up canvas bags with the fabulous moolah. It’s simple. That is not the way it works in modern central banking, though. Today, it’s as if Hank Paulson is pointing his “big bazooka” bailout plan at Wall Street and demanding it opens up its wallet so he can fill it with other people’s money.
September 26th, 2008 | Dan Denning | 7 comments | Continued
The Infrastructure in the United States
How’s the infrastructure in the United States? A reporter from the Financial Times gives us an update: “On the pot-holed highway to hell,” to he calls it. If anyone doubts the problems of US infrastructure…
May 12th, 2008 | Bill Bonner | 1 comment | Continued
Poor David Walker… Howling in the Wilderness…
As headman at the General Accounting Office, David Walker, has been fretting about this for years… and trying to get the politicians to cut spending and balance the budget. He might as well have been trying to get a pack of wolves to eat Greek salads for lunch.
February 27th, 2008 | Bill Bonner | 0 comments | Continued
Warren Buffett is Bullish on the United States
Warren Buffett is bullish on the United States. “It is not a smart thing to sell the United States short,” he told an audience in Canada.
February 13th, 2008 | Bill Bonner | 2 comments | Continued
