Blast from Financial Armageddon’s Past
OK, so it's three years old, but after yesterday's market plunge, the commentary I posted in March 2007, "Rise of the Selling Machines," suddenly seems as fresh as ever: In the popular 1984 film, The Terminator, current California governor and...
Another Market Observation
Once a month or so I write a Market Observation column for Financial Sense, in which I lay out a few thoughts on markets and the economy. Here's an excerpt from today's edition: One canary-in-the-coal-mine indicator is beginning to signal...
The Pessimism of the Unemployed
The V-shaped recovery just keeps getting better. With all the orders they are garnering and profits they are making, U.S. businesses are beginning to hire like gangbusters. Confidence and credit market conditions are also looking up. Pretty soon, I may...
Worse than They Already Are
As a contrarian and a cynic, my inclination is to fade "the crowd." But when it comes to the state of the economy, the American public has proved to be spot-on, at least in recent years. Under the circumstances, the...
This Picture Tells *the* Story
More news from the front lines of the V-shaped recovery... Although its been said that every picture tells a story, I reckon the image highlighted by Modeled Behavior in "Still Trying to Locate those Personal Consumption Expenditures," tells the story...
Another Accident Waiting to Happen
(Image: Source.) As the following reports illustrate, there's a wild feeding frenzy taking place in the fixed-income markets, especially those involving the riskiest kinds of securities. Call me a cynic, but how does this not end badly? "Fixed-Income Pros Fear...
More Scenes from a V-Shaped Recovery
In "Scenes from a V-Shaped Recovery," I highlighted several articles that should have put paid to the ridiculous notion that the U.S. economy is rebounding sharply. However, despite all the evidence to the contrary, the "experts" persist in promoting their...
Not Convinced
The "smart money" tends to dismiss the views of the great unwashed when it comes to economic and financial matters. When they hear that the majority of Americans are still cautious about the future, they assume that Mr. or Ms....
A ‘Unique’ Fiscal Crisis
Market old-timers (like me) have often said that the four most expensive words in the English language -- or, on Wall Street, at least -- are "this time is different." Nevertheless, the phrase usually refers to developments that the masses...
Thrift Stores: Demand ‘Going through the Roof’
Aha! I've done it. After days of digging around, I finally figured out where those supposedly unstoppable U.S. consumers have been spending their cash. Rodeo Drive? Nah. Michigan Avenue? Nah. Fifth Avenue? No, not there, either. In fact, as The...
The Unrecovery?
According to the world's largest maker of construction equipment, the global economy is humming on all cylinders: Caterpillar raised its prediction for world economic growth in 2010 to 3.5 percent, from 3 percent in its previous forecast. The U.S. may...
‘Unsustainable in the Long Run’
From a recent presentation to the International Monetary Fund Fiscal Forum, entitled "U.S. Fiscal Policy After the Financial Crisis and Recession," by Douglas Elmendorf, Director of the Congressional Budget Office: The Medium-Term U.S. Fiscal Picture Given current law and certain...
