Stuff I’m Reading this Morning… Abu Dhabi steps in with a $10 bil Dubai bailout, stocks rally around the world. (Bloomberg) The latest from Tall Paul Volcker, who’s come out of his shell finally. (TBP) Roubini sees the next bubble in the “barbarous metal” that is gold. (Clusterstock) and (LOLFed) 10 Investment Themes for 2010. …
about those lagging indicators…
By Tom Toles
Mint's Return Of Retail (Holiday Season 2009)
Did the consumer come back during the 2009 holiday shopping season? Here’s an infographic from Mint.com that says yes.
Hot Links: Berlusconi Punched, S&P Rejiggered, Drug Loot Bailed Out Banks
Stuff I’m Reading on Sunday Afternoon… Frank Rich: The George Clooney layoff movie (Up In The Air) is the perfect coda for a dark year. (NYT) Italian PM Berlusconi punched in the face like ten seconds ago by a protester. (Guardian) Big money in old skool kicks. The ’85 Air Jordans are worth thousands. (Forbes)…
Dear Class of 2010, Here Are Your Job Options
To those of you who will be graduating next spring, use these five industries as your starting point for locating job opportunities. The upside for those engaged in bankruptcy, union labor, regulation, lobbying and big government will be nothing short of staggering.
Paul Wilmott on Britain's Windfall Banker Tax
They actually did it in Great Britain… From the New York Times: In Britain the first shots have just been fired by Alistair Darling, the chancellor of the Exchequer, our very own, very unlikely Wyatt Earp. On Wednesday he introduced a windfall tax of 50 percent to be paid by banks on discretionary bonuses above…
Saturday Night Video: Not So Mellow Gold
Glenn Beck and his gold worship got the Daily Show treatment this week (h/t Paul Kedrosky)… www.thedailyshow.com
30,000 New Job Openings…
We’ll see if any ex-retail clerks or out-of-work mortgage brokers want to take Obama up on these job openings.
Burton Malkiel: Proponents of a Transactions Tax Misunderstand How Markets Work
“Don’t tax you, don’t tax me, tax that fellow behind the tree.”
S&P: The Consumer is Coming Back, But Don't Expect Fireworks
The chart above demonstrates how consumer spending typically lags GDP. One of the most gruesome features of our recent downturn has been the sheer depth of the unemployment crisis and how that has led to higher savings rates, leading to the need for businesses to lay off even more employees. Standard & Poors economists David…
