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E Thomas St.

E Thomas St.
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  • Once you look at the big picture, this month's gains in auto sales don't really look all that great.  [View news story]
    Like every second derivative green shoot...
    Jul 1, 2009. 05:40 PM | 2 Likes Like |Link to Comment
  • Blaming efficient market hypothesis for our troubles is naive and distracts us from real issues, says Pablo Triana: "It's not... that regulators allowed the insane leverage to take place because their brains repeatedly flashed out the 'markets are efficient, markets are efficient!' signal." (previously)  [View news story]
    Is this guy totally naive? Greenspan was totally on the EMT bandwagon.
    Jun 22, 2009. 11:46 AM | Likes Like |Link to Comment
  • An excellent article by Pimco's Paul McCulley explains why so many pundits are totally wrong about the Fed needing to soak up all those excess reserves, or risk inflation. They're forgetting the clincher: the Fed's newfound ability to pay interest on banks' excess reserves.  [View news story]
    McCulley was right though. He didn't make a moral judgment on whether it was right or wrong to induce another bubble, he stated it was what the Fed needed to do to end the recession.
    Jun 18, 2009. 12:59 AM | Likes Like |Link to Comment
  • This makes a case that market timing is everything.
    Jun 16, 2009. 06:33 PM | Likes Like |Link to Comment
  • After years of speculation, a new study suggests stimulant medications - specifically Ritalin (CELG, NVS) and Concerta (JNJ) - used to treat ADD may have played a role in sudden, unexplained deaths in children.  [View news story]
    I'm not surprised Concerta could kill me...I just hope it isn't a sudden death.
    Jun 15, 2009. 03:05 PM | Likes Like |Link to Comment
  • More than 7% of U.S. homeowners are now behind in their mortgage payments, Equifax says, an increase of 58.4% from a year ago. Meanwhile credit card accounts dropped to 365M from a peak of 440M as firms have sucked more than $600B out of the system.  [View news story]
    The government isn't willing to do that work for it's own reasons.

    On Jun 12 01:36 PM cyclingscholar wrote:

    > Of this 7%, can we try and discern two groups? (1) those in legitimate
    > need of help, late on payments due to job loss, or health problems,
    > or other unforseeable (in many cases) expenses, and (2) those who
    > overstretched themselves, bought too much house, clearly hoped rising
    > prices would 'bail them out' of their deep risky financial hole.
    > There is a legitimate social net that should be offered to (1). Those
    > in category (2) should be left to whither on the vine.
    Jun 12, 2009. 01:46 PM | Likes Like |Link to Comment
  • Former labor secretary Robert Reich, for one, thinks the deficit hawks are all worked up over nothing: "We ought to temper our worries by understanding the larger context," he says, noting debt pulled the U.S. out of the Great Depression, and has spurred unprecedented growth over the past 75 years.  [View news story]
    Robert Reich is an old asshole nearing retirement so what does he care about the consequences? He won't have to suffer the consequence of this debt (and he misunderstands how debt being used to facilitate consumption is not like debt being used to facilitate investment in production) My only hope is that baby boomers coming into retirement and on fixed withdrawls from their demolished 401(k)s will be reduced to eating cat food as some sort of atonement for the debt fueled binge they indulged in since they entered the work force.
    Jun 11, 2009. 02:13 PM | 10 Likes Like |Link to Comment
  • TARP worked, Hank Paulson says, citing as proof the fact that a majority of banks are now readying to exit the program. Which has Felix Salmon scratching his head: "If you give people a bunch of money they don’t want, and then reluctantly accept that you’ll allow them to repay it, then you must have achieved something substantial, right?"  [View news story]
    Felix is absolutely right. A protection racket that collects payment via loan sharking isn't actually doing anything amazing or even useful.
    Jun 10, 2009. 12:04 PM | Likes Like |Link to Comment
  • While others scramble to escape TARP, Wells Fargo (WFC) - which opposed the Treasury's $25B loan back in October - hasn't applied to repay.  [View news story]
    That'd be redundant market capture if Wells Fargo acquired WaMu. The bank you were looking for is Wachovia.

    On Jun 09 05:35 PM herbert hoover wrote:

    > Maybe they looked at the crap they bought from WaMu and realized
    > they're gonna need the cash
    Jun 9, 2009. 07:34 PM | 2 Likes Like |Link to Comment
  • First came the bailout, now comes the burnishing, as banks try to portray themselves as friends of the public. Says one bank's marketing chief: "Individuals and companies want to... get on with their lives. They want the banking industry to help them.”  [View news story]
    Obviously the marketing arm of a bank has no idea how banks actually operate and obviously have no influence over that. People in marketing are seemingly more detached from reality than anyone else with a job.
    Jun 9, 2009. 01:59 PM | 1 Like Like |Link to Comment
  • Ten Year Inflation Worries [View article]
    The demographics of potential demand is something I've been researching and the higher those rates go, the less people qualify (Based on household income) even for the bare bones FHA 3.5 down, $8000 tax credit. The only way to maintain those housing prices is to make them cost less at maturity through ridiculously low interest rates.

    Something has to give and the sellers don't control interest rates.
    Jun 9, 2009. 01:13 PM | 3 Likes Like |Link to Comment
  • Green Shoots Are Poisonous to Your Wealth [View article]
    Yeah, if only those Japanese were more positive, then they'd be fine. Do you have any more shallow pop philosophy tidbits to share with us?

    On Jun 08 04:38 PM thiazole wrote:

    > That has to be the most absurd thing I've every heard. 90% of the
    > economy is psychological. The economy doesn't go bad to "punish
    > bad behavior". If you don't understand that, then look into Krugman's
    > analysis of the "Capitol Hill Babysitting Coop". It does a good
    > job of explaining what you don't understand. If anyone was an economic
    > terrorist, it would clearly be the pessimists who are trying to incite
    > panic. The more people panic, the worse the economy will get. You
    > can have all the fundamentals for a good economy and be in a never
    > ending depression because of pessimistic psychology. Just look at
    > Japan's economy.
    Jun 8, 2009. 05:33 PM | Likes Like |Link to Comment
  • She should stop paying the mortgage. Let the pride go people, you're being boiled alive.
    Jun 4, 2009. 05:03 PM | 15 Likes Like |Link to Comment
  • According to a new report, the average U.S. home price is undervalued by 12.2%.  [View news story]
    Sorry, Undervalued according to WHAT?!?!?
    Jun 4, 2009. 01:12 PM | Likes Like |Link to Comment
  • According to a new report, the average U.S. home price is undervalued by 12.2%.  [View news story]
    Undervalue according to what? This is sloppy pumping parading around as a news story.
    Jun 4, 2009. 01:07 PM | Likes Like |Link to Comment