Stuff I’m Reading this Morning… A Fed official talks about the potential for aggressive interest rates hikes when necessary. (Bloomberg) Trader Mark on the Julian Robertson Armageddon interview. (FundMyMutualFund) Yes, Twitter is worth 74 kajillion dollars, haters. (NYP) Rumors of a Blackstone LBO for Sea World. Somebody warn Shamu! (LOLFed) Jesse is still agnostic on…
Federal Reserve
Hot Links: Pulp Tinkerbell
Stuff I’m Reading this Morning… The agenda for economic regulation reform at the G-20 Summit in Pittsburgh isn’t looking too promising. (Economix) A tale of tragic heroism in the Bronx. (NYP) The Healthcare Debate rages on…in an Iron Man comic book. (Ecocomics) My fave post of the week so far: Imagine If Lehman Brothers Had…
Bernanke: More Bank Of Japan Imitation to Come
In a widely telegraphed move, the FOMC today voted to keep Fed Funds target rate at zero. Oh, and based on the statement, don’t expect this to change anytime soon. Bernanke may have been a student of The Depression, but he is clearly a fan of the Japanese Lost Decades. All that was missing from…
Larry Summers' "To Do" List
Today, President Barack Obama announced his reappointment of Federal Reserve Chairman Benjamin Bernanke to another term. Economic advisor Larry Summers, whom many had speculated would be Bernanke’s replacement, must not have taken the news well. The following To Do List was found in a trash can on Pennsylvania Avenue… Read Also: Lucan Van Praag’s “To…
Hot Links: Gartman, DeLong, Merkel & The Big Dogs
Stuff I’m Reading this Morning… On tap today: New home sales, consumer confidence, the Richmond Fed. The Fly is liking the refiners here. (iBankCoin) Commodities guru Dennis Gartman starting a new hedge fund. (MarketFolly) This is a non-story to me, but the Goldman trading huddles are now in the spotlight. (Clusterstock) Bernanke to get the…
Forecasters See Recovery… Jobless Recovery
This came out from the Philly Fed on Friday night… The Third Quarter 2009 Survey of Professional Forecasters got a smaller response than normal (only 34 economists participated) but the results are interesting nonetheless. By no means do I endorse the reliability of what this group has to say. On the panel, you have some…
FOMC Day! Get Your Programs!
I love FOMC Day! From the moment I wake up, my stomach is filled with butterflies, really pretty purple and pink ones, as I look forward to the 2 o’clock hour. At this appointed hour, the chairman of the world’s most secretive monetary institution descends from on high with his stone tablets, which are emblazoned…
Hot Links: CNBC, Fox Biz & Larry Summers
Hot Links for Weekend Reading… Bronte Capital takes on these phony baloney explanations of how Goldman Sachs could have made $22 billion in High Frequency trading. (Bronte) Speaking of Goldman, how has Warren Buffett fared with his stake? (Hint: he kicked ass so far). (DealBook) I thought this faux-CNBC homepage artwork was hysterical. (TBP) Even…
Breaking: US Dollar to Reverse Split
Breaking News: Washington D.C., Jul. 24, 2009 — The Federal Reserve announced today that its Board of Directors has declared a reverse stock split, at a 1 for 2 ratio for the US Dollar, effective August 1, 2009. As a result of the reverse split, every $2 of outstanding US currency will be changed into one Dollar. All fractional monies…
Another FOMC Day…Hold All My Calls Until After 2:15
From the New York Times: Investors are hoping for reassuring words from the Federal Reserve. The central bank is widely expected to leave its key rate unchanged at a range of zero to 0.25 percent. Its outlook for the economy, however, is less clear. Gauges of the economy have been improving, but they not yet…
