Retail sales are up for the sixth straight month. But… 1. The average American lost $21,000 in net worth in Q3, 2011 according to the December 8, 2011 Federal Reserve Flow of Funds release. 2. Personal savings rates are on a marked decline after a predictable spike during the recession: 3. Disposable income is back… [Read more…]
November 28, 2011
James Altucher, who wrote that Pearl Harbor caused the financial crash of 2008. Does that make the international hopes of Chinese consumer spending growth the signal the upcoming event horizon? With the global economy fighting the doldrums: The European PIIGS (and everyone thought the Euro would replace the US Dollar as the global currency) Downward revisions of… [Read more…]
December 16, 2010
All the Devils Are Here: The Hidden History of the Financial Crisis (Joe Nocera, Bethany McLean) – 30 year history about the run-up to the mortgage and financial crisis. Fooling Some of the People All of the Time: A Long Short Story (David Einhorn) – Hedge fund manager explains how he saw taking the short… [Read more…]
November 21, 2010
Spent the last two mornings catching up on the Charlie Rose show from this week. He did a nice job of bringing in all sides to provide perspective and opinion on the US Budget Deficit Commission appointed by President Obama. Bottom line – our standard of living and entitlements are too expensive for the tax… [Read more…]
October 27, 2010
Pragmatic Capitalism asked the question – “Is this 1937-38 all over again?” 1937 is important because after experiencing economic growth for a couple of years, the US economy fell sharply into a great recession. (It’s a topic of debate as to whether the 1937 slowdown was a new recession or an extension of the Great… [Read more…]
October 24, 2010
Who knew my Sunday morning coffee with the week’s recordings of The Charlie Rose Show would include culinary genius Robert Reich, former Labor Secretary under Bill Clinton? Reich just published his book “After Shock.” While I typically don’t agree with Reich on policy, he made several excellent arguments and one-liners about economic decisions ahead: The… [Read more…]
October 19, 2010
Found the book via Megan McArdle’s recent post – “Should We Just Call a ‘Do-Over’ on the Mortgage Market?“. (The answer is a resounding “no” BTW… There are other more painful, but more effective ways to solve the problem.) Benjamin Roth was a lawyer in Youngstown, OH through the Great Depression and kept a running… [Read more…]
October 14, 2010
Came across a very good journal article today for those interested in the evolution of entrepreneurship – William Baumol’s “Entrepreneurship: Productive, Unproductive, and Destructive.” Published back in 1990, it’s an interesting read given the current unemployment levels and post-housing bust economic doldrums we’re experiencing. Baumol write that “…at time the entrepreneur may even lead a… [Read more…]
October 1, 2010
Walmart is setting it sights on San Francisco and other urban markets to open smaller stores to service these areas. Walmart has long had a tough battle in the Bay Area. As recently as July 2010, the city of Antioch voted down expansion plans for an existing store. Back in 2006, the city of Hercules… [Read more…]
August 27, 2010
The headlines and theme were what they needed to be - “Bernanke: Fed will take action if economy falters.” (from Yahoo.com) “Bernanke Says Fed Stands Ready to Support Recovery.” (from the Wall Street Journal) “Bernanke outlines three options for additional economic stimulus.” (from HousingWire) The result is a nice little boost in the trading markets… [Read more…]
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December 14, 2011
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