Goldman Sachs has raised its rating on large banks to “attractive.” In related news, Neal Barofsky, the special inspector general for the Troubled Asset Relief Program has said that the Feds may have, er, not quite told the truth about the health of the banks receiving TARP funds. He didn’t use the word, lie though. How are these two items related? We’ll explain below.
October 6th, 2009 | Dan Denning | 4 comments | ContinuedAll Posts Tagged With: "Wall Street Journal"
Naturally the Feds Want to Raise as Much Money as They Can
Now, the feds have intervened in the economy too. And, likewise, they are trapped. By pumping in trillions of dollars – not just in America, but also in Britain and China (which have both intervened even more forcefully)…
September 21st, 2009 | Bill Bonner | 2 comments | Continued
One in Four US banks Announce Unprofitable Quarter
“Friday’s edition of The Wall Street Journal picks up on the theme of the long road of pain ahead for bank shareholders in the US,” colleague Dan Amoss tells us. “In ‘Banks on Sick List Top 400,’ the WSJ details several ugly highlights from the latest FDIC Quarterly Banking Profile, published last Thursday.
September 1st, 2009 | Bill Bonner | 0 comments | Continued
Price of Water Rises in China
The Chinese are water-poor. They are sucking their aquifers dry. It is particularly bad in the north of China. The groundwater under the North China Plains is draining away quickly. By some estimates, China will exhaust this water supply in the next ten years.
August 21st, 2009 | Chris Mayer | 3 comments | Continued
How to Become a Better Investor: The Wall Street Journal Effect
As a young trader I was taught about the “Wall Street Journal Effect” where seasoned traders took profits when an article appeared in the paper. Things have changed with the Internet, which gives access to information like never before, but the premise is the same.
July 22nd, 2009 | Alan Knuckman | 0 comments | Continued
Consumer Spending Rises
Though the fear of inflation is minimal right now, government’s deficit spending on this scale is bound to result in higher consumer price levels sometime. How long will it be before this good luck ends up kicking us in the derriere?
June 30th, 2009 | Bill Bonner | 2 comments | Continued
House Prices in California and Las Vegas Hit Hard by Wave of Foreclosed Properties
A fellow loses his job; he can’t pay his mortgage. The house goes onto the market and pushes down prices. Prices in California are off 30% year-to-year, with the median house at $267,000. In Las Vegas, the median house is only $135,000…
June 29th, 2009 | Bill Bonner | 3 comments | Continued
Waxman-Markey Bill: Most Expensive Thing to Hit Economy Since Financial Crisis Began
Even the normally mild- mannered Wall Street Journal called it “one of the most ambitious efforts to re-engineer American social and economic behavior in decades, presenting risks and opportunities for a wide array of businesses from Silicon Valley to the coal fields of the Appalachians.”
June 5th, 2009 | Chris Mayer | 13 comments | Continued
Government Debt Bubble is What Directly Precedes Inflation
First things first. The budget comes out tomorrow. Blah blah blah. What is really left to say? The Treasurer predicts collapsing revenues from the GFC and has cut spending in some places while increasing it in others. The annual deficit could be around $70 billion (we expect it to be lower so it’s ‘not as bad as we expected’)…
May 11th, 2009 | Dan Denning | 9 comments | Continued
Economy Free to Recover?
Happy days are here again. It’s like someone turned back the clock to 2007. You’re a crank and a nutjob if you think there are serious problems in the financial system. Don’t you know this is the recovery you moron!
A report on U.S. payrolls showed that the American economy shed around 491,000 jobs last month. This was less than expected by forecasters and the least amount of jobs lost in the U.S.
May 7th, 2009 | Dan Denning | 34 comments | Continued