On Tuesday, the stock markets put in another dismal performance, with all major indices closing down on the day. The Dow Jones Industrial Average closed at 6726, down 37 points, about 20 points above its low and 125 points below its mid-day high. And… more »
As I write this just before 9 PM Mountain Time on Sunday, stock index futures are pointing to another very weak open on Monday morning, with Dow Jones futures trading well below 7,000.
Asian stocks are getting slammed, with shares of HSBC halted and… more »
While I predicted (though not with high confidence) a potential temporary market rally over the next few weeks, the market simply can’t fight through the continuing stream of economic fascism (and I do not mean that as hyperbole) coming from the… more »
On Wednesday, the National Association of Realtors reported that existing home sales fell 5.3% in January, much worse than expectations, and the slowest sales rate in 11 years.
There was an interesting comment from NAR’s senior economist,… more »
Official: Budget projects $1.75 trillion deficit
GM posts $9.6B 4Q loss, burns through $6.2B cash
Royal Bank of Scotland reports $34 billion annual loss
Ukraine’s credit rating cut by S&P amid default fears
We’re surrounded by the… more »
A day after signing a bill that will likely cost American taxpayers more than $3 trillion over the next decade, Barack Obama announced today that his interest in interfering in private contracts and forcing all Americans to absorb the losses for bad… more »
The Rocky Mountain News was good enough to publish my letter to the editor about the theft of Mike Rosen's savings by Bernie Madoff. It's a much shorter version of a note I posted on the subject the other day, but I think it bears repetition in this… more »
For those of you who haven't been paying attention to financial markets (which is probably somewhere between 0% and 2% of my readers), I'd like to point out that the Dow Jones was not only down 9% in January, but it's down 17% since the election of The… more »
I'm not necessarily attributing causality when all we really know is correlation, but the stock market dropped 180 points, or about 2.25% in the 4 hours after The Chosen One became the 44th President of the United States.
My mother asked me if there… more »
Over at the NY Times, Michael Lewis has written (with David Einhorn) a typically fascinating article, particularly the discussion of the guy who tried multiple times to explain to the SEC how Bernie Madoff had to have been a fraud.
You can read the… more »