I got into a bit of an Internet tussle with Marketwatch 666. This was another of those posts from the defenders of Social Security, and like…
I was driving north on the Beltway, getting outside of DC. In the fast lane, going a pretty good clip, not many cars, sun out.…
The surprise of the week was not the goofy ending to the cliff. It was the minutes from the Fed. The meeting in question…
The other day the IRS announced new rules for settling tax liabilities for individuals. It’s a sweet deal. I thought that was interesting. Then yesterday we get an announcement from Altria (MO) that they too have cut a deal with the boys at the IRS. …
I wish I could have been a fly on the wall at the G8 summit at Camp David this weekend. The final communiqué from the global big shots talks about keeping Greece in the Euro and a shift away from austerity and a move towards growth oriented policies….
Two market developments are worthy of note today (so far). Gold is up 2.5% (off a very cheap low) and USDYEN and EURYEN have made very significant 1.3% moves down.
Stuff like this scares me. It looks like acceleration in the flight to quality. The ne…
Man-o man did the Morg screw up! Let me count some of the ways:
– It announced a $2B loss, but everyone in the market knows its trading book, so the losses have nowhere to go but up.
– Investors took JPM’s stock behind the woodshed and beat it with …
On April 17 I wrote about a conversation (link) with an individual who lives in Athens. He had this to say about the coming Greek elections:
“The other parties are communists, radicals and crazies. If they have a hand in the new government, then on…
The 1st Q reserve numbers for the Swiss National Bank tell an interesting story. For a second quarter in a row, the foreign reserves have declined.
There is only one way that this could have happened; the SNB offloaded a portion of the EURCHF posit…
Student Loan Battle
There was a big fight in D.C. this past week over student loans.
The issue is a scheduled increase in interest on new student loans from 3.4% to 6.4% set for July 1. Clearly this is a dumb plan. I don’t see any political opposi…
