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...
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...
THE BIG PICTURE Last Monday I presented the bull’s three pronged case , that: (1) the credit crisis is past it’s worst stages, (2) that we can skirt a recession or just experience a mild one and (3) that we have good value in stocks today. I offered the bull’s view up for balance, to...
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,...
HISTORY VIEW. Looking Back Again in History, to 1938 . Yesterday CNBC was highlighting that we have to go back to 1938 to find such a big start (1 day) to the second quarter. Then I watched Liz Ann Sonders, chief investment strategist at Charles Schwab , say on Bloomberg audio/video that we also have...
CHAIRMAN BERNANKE: “HOLD INTEREST RATES STEADY ON TUESDAY!” Hey, why not? What have we got to lose? Cutting interest rates sure isn’t working, right? Along with setting interest rate policy, the Fed has another role, that is being the “lender of last resort.” They’ve sure done that this past Tuesday...