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GM is Back on the Exchange
Today, to mark its trading on Wall Street Chief Executive Dan Akerson blew the horn of a 2011 Chevy Camaro SS. It was a propitious blow from one of America's most famed muscle cars.
Yesterday, GM's first day back on the exchange, saw its IPO range shoot up to $32 to ...
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China and the G-20 Conference
As the latest G-20 summit conference comes to an end, there remain tensions about America's quantitative easing, and the role of the emerging Asian powers. But as the latest Economist points out, China needs to keep buying, and America needs to keep spending.
The notion of state communism buying out capitalistic ...
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Whose Debt is Whose?
With election day 2010 just hours away, everyone is ready to see the Democrats lose the House and most of the Senate. Even Democratic voters are frustrated with Obama's party. Paul Krugman, voice of a dying Keynesian set, wants more government spending, arguing that the only way out of the ...
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Mid-Terms and QE2
With the mid-term elections next week and Ben Bernanke ready to announce some more quantitative easing, Americans are ready for change yet again. But buying mortgage backed securities and government debt may not be enough this go round. Long term interest rates don't really have much farther down to travel, ...
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Long Road Ahead
The New York Times recently featured an article about the New Normal, with a slide show of American families who are underwater on their mortgages, commercial real estate that is unfinished or unsold, and long lines outside of food banks. Americans are coming to the realization that the prosperity they ...
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The Deal With Taxes
With the Bush tax cuts set to expire at the end of December, there has been much talk about what to do. Republicans, of course, want to make the tax cuts permanent. Democrats, President Obama included,want to see the tax cuts expire for the rich, and make them permanent for ...
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Deflation? Not Yet.
The Fed announced on Tuesday that they will reinvest money from expiring mortgage backed securities into longer term U.S. Treasurys. At present these securities would have shrunk the Fed's balance sheet. The reinvestment into Treasurys signals that the Fed is comfortable with spending more money for a longer time.
Some Fed ...
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China, Welcome to Capitalism
For years China has been the place for cheap labor. But with workers taking home a pittance - less than $200 monthly - of what Americans yield, labor strikes have been springing up like wildfire in August. Foreign multinationals are the target of these outbursts, and the Commie government is ...
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Financial Bill Passes
The Financial Bill passed 60-39 and has been lauded by many as a responsible piece of legislation, and touted by others as imcomplete. Deregulation and laissez-faire economics have seen and done enough damage for the government to enact its first step towards economic socialism. I'm sure that phrasing made many ...
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Stocks Surge on Banks Bid
The Dow was up 2.82% today at 10018.28, the first time it broke 10000 since June 28. After last week, when stocks were at their lowest point this year, this is a welcome rebound. State Street, the world's second largest custodian bank was up 9.9% as it projected profits well ...
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