A poll completed online by Monster.com has found that 50% of Americans have less than one month of savings. This scary statistic further induces the unemployment problem as thousands of Americans no longer qualify for unemployment, and have just a few weeks of savings before they’re tapped dry. Read more…
While I have not tried even to the slightest extent to hide my opposition to a central bank in this country, I’ll try to be as objective as possible when looking at Bernanke’s history. I believe the best basis for comparison resides in contrasting him against other chairmen of the Fed, including the previous chairmen such as Alan Greenspan and Paul Volcker. Read more…
I don’t usually put much weight in analysts’ upgrades or downgrades. Usually they’ll upgrade a stock to “outperform” and give a price of $x per share then sell at $X – 5. But I like to see why analysts are making the upgrade or downgrade, usually its due to earnings, but now it looks like analysts are downgrading on high stock prices. Read more…
I was a fervent supporter of Bank of America after its bailout when, by process of government bailouts, was near immune to any further decline in its mortgage holdings. Today, however, I’d advocating the opposite play, this thing looks prime for a short bet. Read more…
To say we haven’t had any recovery in the automotive sector is a stretch. But as I have outlined previously, the fact of the matter is that any positive economic growth from cash for clunkers is the result of bringing tomorrow’s (the future’s) demand to today (this quarter). There’s no doubt about it, cars are hot right now, but who is to say they’re going to be hot when the government yanks cash for clunkers on Monday? Read more…
The market is at a crossroads after beaming off its March 9 lows. With the financially catastrophic banking numbers behind us, but unemployment still growing, the outlook for the economy is as unpredictable as the future of the major indices. Read more…
Look out below! A comment from a staffer at the White House indicated that the administration was willing to give up on a public option for health care, still seeking healthcare reform, but would not seek the creation of a government owned insurance company. Read more…
You might think that a falling unemployment rate is a bad thing, but in actuality as unemployment dips and job losses continue, falling unemployment is TERRIBLE for the economy. Of course, like most indicators, much of the disparity comes from how we calculate the numbers. Read more…
The Federal Reserve has played more of a position in this recession than any in history, acting first to drop rates to questionably low levels while quantitatively easing the credit markets to the tune of more than $1.5 trillion. Undoubtedly, today’s low overnight rate of .25% will not be around forever, and now the pressure is on to push rates higher.
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Microsoft has arguably been one of the least successful at monetizing the web. The computing giant has thus far lagged behind rivals, unable to derive profits from any of its electronic properties. However, in two recent moves, Microsoft could be better positioned than ever to take on the internet. Read more…
Cash for clunkers, you’d think it’s the biggest thing since sliced bread, but it isn’t. In less than one whole week, Americans tired of their old beat up cars raced to dealerships, virtually erasing the $1 billion that Congress put in the “CARS” bank account. But is it really all its talked up to be? Or is there a better chance at making money SHORTING automotive stocks than there is to long them? Read more…
