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UPDATE ON THE STOCK MARKET . Written Wednesday, June 11th, 2008: 6:30 a.m. Today’s stock market has no real leadership. The Dow’s up, the Dow’s down, all day long. Yesterday it was more of the same. No real trend except for in ENERGY and GOLD , both selling off big time, sort of reversing...
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THE BIG PICTURE Ok, here’s a Big Picture of where America and we Americans stand today. A fairly downbeat Big Picture so buckle your seatbelts. America has been on the verge of a major comeuppance for many, many years. But its been postponed and postponed. Because the US dollar is the world’s...
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THE REAL ECONOMY VS. THE PAPER ECONOMY The Real Economy . Oil at a record, rice too. Gold hitting $1000 an ounce, silver way up. Corn prices boosted by ethanol demand. Food riots in Haiti, Guatemala, Argentina and more. 24 countries dropping food import tariffs because they are seeing food shortages...
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SCAPEGOAT BLAMING . Boy, am I’m getting tired of the carping! Day after day, article after article. All these writers seem to think there’s something to gain in blaming former Federal Reserve Chairman Alan Greenspan for the US housing bubble, the credit crisis, and in fact, all our problems. Listen,...
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Hank Paulson’s APRIL FOOL’S JOKE . That’s how US Treasury Secretary Paulson’s latest plan, unveiled yesterday is being described by at least two columnists this morning. I have to chuckle as well. When I first heard about it yesterday I assumed it was another step in the government and Fed’s attempts...
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LONG US GOVERNMENT BOND VIEW . Bottom Fishing. Yep, I keep fishing for a bottom in the “long” US Treasury bond. I mean a bottom in yield, a top in price. All logic I can come up with says the 25-year bull market run to ever lower long term interest rates is over or ending. All but two items. One , the...
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ECONOMIC VIEW . Still A Debate Over Recession! The public debate still continues over whether the US will undergo a recession in 2008. (Wealthy) economists and financial commentators are even betting bottles of champagne on it. One regular CNBC guest, Brian Wesbury, chief economist for First Trust just...
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MORE ON ALAN GREENSPAN’S THE AGE OF TURBULENCE . I’m proud of myself! I read former Federal Reserve Chairman Alan Greenspan’s whole tome on vacation (505 pages and 23 chapters). It was quite a challenge but I enjoyed most all of it. It’s really an economic history of the last 80 or so years beginning...
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THE AGE OF TURBULENCE . Dr. Greenspan’s book is pulling my many years of economic and stock market study together for me. He ties together historical events with economic events and his own life, starting back in the 1920s. I knew Greenspan was famous for studying arcane stats like rail car loadings...
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ECONOMIC VIEW . Three points to think on today: Lucy heard the term on “ stagflation ” on CNBC early Tuesday morning and asked me what it was. I replied that stagflation was when inflation was rising and problematic … and … the economy was almost at stall level or shrinking. And that it happened to the...