November 2008

If you are wondering why the stock market has been declining, you only need to flip your TV to C-SPAN and see Hank Paulson explaining why he has abandoned his original plan to save America from depression. Basically, Paulson has done a…

Citibank has to be the worst run of the major banks. The result of ridiculous mergers of Citicorp, Travelers, Smith Barney, Salomon Brothers, this unwieldly mess was a disaster that should never have happened. Now, Citigroup has a market…

Just after the unemployment claims number was released at 830AM ET in the U.S. markets took a sudden jolt down.  U.S. stock futures cratered, European stock markets fell more and Dollar-Yen and U.S. bond markets rose.  In fact,…

Unemployment claims rose to a monster reading of 542,000 last week. This is easily the highest figure in this business cycle and represents the largest number in 16 years. As with last week, there was absolutely nothing to like about this…

A few weeks ago we attempted to switch the blog here over to WordPress from the Blogger platform. It didn't go so well. In the interim, some of the technical issues seem to be sorted out. If you are reading this post, then we are all…

Yesterday morning, I heard Louise Yamada on Tom Keene's show on Bloomberg Radio giving her assessment that stocks may break below 2002 lows. I mentioned this in yesterday's news round-up. But, now I have the audio for you as well.…

America is the largest debtor nation in history. And given the economic weakness in the global economy right now, the debt load is likely to get worse. Recently, China surpassed Japan to become America's largest creditor.The Chinese, who…

Related articles Dow Plunges 400 to Below 8,000 as S&P 500 Skids to 5-Year Low

Yesterday's big news came at the hearings in Washington D.C. where U.S. Treasury Secretary Paulson did his best Donald Rumsfeld imitation, stonewalling Congress despite increasing anger at how the Troubled Asset Relief Program (TARP) is…

Consumer prices came down more than expected with the CPI (Consumer Price Index) falling 1.0% month-to-month. This s a large decline, but is entirely related to fall in the price of oil. Underlying core CPI excluding food and energy, down…