A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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It has been less than a month since President Obama declared war on those evil oil speculators.
Standing in the Rose Garden on April 17th, the president laid out a $52 billion initiative to increase federal supervision of oil markets in an effort to crack...
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There’s been lots of conomic data over the past couple of days. I covered the NAHB builder survey yesterday. Regardless of the fact that the housing market is at pathetic levels historically, the builder data showed the rebound off the lows to be on track. Today, the government released data on housing starts to...
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Durable goods orders rose 8.7% In February versus January on a nominal, not seasonally adjusted basis. The mainstream media reported only the 2.2% seasonally massaged increase, which missed the consensus expectation of 2.9%. The actual, unadjusted increase was the best February gain since February 2004, so the actual data could hardly be read as...
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09/02/2011
Bear Market Rules Apply
by Carl Swenlin
It is a concept that we stress on a periodic basis, and we got another illustration this week. Technical indicators must be interpreted within the context of the overall market trend.
(This is an ex...
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“Durable Goods Orders Rise 4%,” blared the headlines this morning. There was just one minor problem with that. It was not true. It represented the seasonally adjusted, massaged, and manipulated number, which bears no semblance to reality. The mainstream media always reports just the seasonal hocus pocus while ignoring the actual number. That actual...
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Catchy headline...
The NYT On Foreclosure: Can We Talk About Sex?
Actually, I meant to say "housing bubble," but in top policy circles it might be easier to get a discussion going on sex. The NYT's lead editorial defends the Obama administration's ...
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The awful performances of the longer term Treasury auctions contained within them a sign that foreign central banks are beginning to reverse a normal intermediate cycle upswing in their purchases of Treasuries and GSEs. The long term trend of FCB purchases continues to be down. The Treasury has expressed confidence that the domestic banking...
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US Dollar Update: More Upside for the Dollar?
This is a quick dollar update, since so many markets are tied to the dolla...
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