Wall-Street
Beware Clowns Bearing Financial Advice
A friend of mine sent me a link to a YouTube video (after jump) featuring Peter Schiff, president of Euro Pacific Capital, and longtime critic of the debt-fueled U.S. economy. The video is comprised of interviews on financial news channels in 2006 and 2007 – before the subprime meltdown morphed into a full-blown Wall Street [...]
Uncle Sam? Uncle Socialist. Get the t-shirt!
No need for alarm, folks. President Bush said today that the partial nationalization of the banking system is an “essential short term measure to ensure the viability” of our highly dysfunctional financial system. Then Bush described these latest moves to stop the financial crisis on Wall Street from spreading as “unprecedented and aggressive”. Sounds like [...]
Clown Banker - Redux
This is actually something I did a while ago. But, with last week’s meltdown on Wall Street I thought it was a perfect time to bring it back. Not only that, but I whipped up a t-shirt version. So, if you want to let people know what you think about the bail-out, pick up the [...]
Dollar Sniffers- by Greg Strid
Crude oil futures swooned to a hair above $105 a barrel
before closing at $109.71 yesterday. At the same time,
the US dollar rallied and held most of its gains against
major currencies. (The greenback is trading at a seven-
month high against the euro and a two-year high versus
the British pound.)
As far as the US dollar’s rise [...]
Wall Street’s Wild Ride
Stocks started the month of September with a wild, manic ride.
The Dow rocketing over 200 higher in early trading, fueled by
news that Hurricane Gustav did very little damage to the many
oil and gas platforms that dot the Gulf of Mexico. (It also spared
New Orleans, veering to the west instead of adding to the
devastation that [...]
Market Meets Reality
The stock market met reality yesterday – it did not go well. Record high oil prices and a warning about inflation form the Federal Reserve smacked sobriety into U.S. investors. Oil traded at $135 a barrel and the minutes from the Fed’s late April policy meeting implied that further interest rate cuts are unlikely [...]
AIG Needs $12.5 Billion - Time to Pay Attention, Wall Street!
The stock market rumbled ahead on greased rails of delusion cheered by the glimmer of light perhaps flickering at the end of the credit crisis tunnel. But, the news Thursday afternoon signaled that the frail twinkling they thought meant hope may be an oncoming freight train instead.
After the closing bell Thursday, American International Group, the [...]
Major Home Builder Hovnanian Reels from Losses
The real estate market’s death spiral is taking a heavy toll on publicly traded home builders. Hovnanian Enterprises, the embattled and bruised New Jersey-based McMansion builder reported another staggering loss in the quarter that ended October 31. The total amount of red ink generated amounted to $469 million, or $7.42 per share. This compares to [...]
Wall Street Relies Too Heavily on Interest Rate Cuts
A decaying housing market, deteriorating credit conditions, a sickly dollar, sky-high oil prices, two expensive and useless wars, and the looming mass-retirement of baby boomers are the main ingredients that will create the fuel for a tumble in US economic growth over the next year or two (or three or four, etc.)
Yet the party on [...]
