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  • Market recap: What happened today? Was it growing fear over the Greece crisis, or one trader's fat finger? Either way, it's actually a relief that the Dow fell "only" 3.2% after a 1,000-point collapse shortly before 3:00. Regardless, three down days makes a pattern, and if investors had grown complacent that every time we had a bad day we followed with a good day, no one is complacent any more.  [View news story]
    I doubt this is a trader error.
    May 6 05:08 PM | 2 Likes Like |Link to Comment
  • In today's economy, too many job seekers are chasing too few job openings. But two economists say the situation could reverse itself as soon as 2018, with retiring baby boomers leading to too many open jobs.  [View news story]
    Don't count on it.
    Mar 22 04:21 PM | Likes Like |Link to Comment
  • A bullish indicator of confidence in the economy moving forward: Stock buybacks are running at their highest level in two years.  [View news story]
    More spin! Remove the printing press, and borrowed funds, the US tanks.
    Mar 1 04:35 PM | Likes Like |Link to Comment
  • Despite what he sees as "lots of mistakes" before and during the crisis, Nouriel Roubini endorses Bernanke for a second term, saying "all in all, the final response of the Fed was the right one.” Of course, he has an ideal chairman in mind: Paul Volcker.  [View news story]
    I thought Roubini was a smart guy.
    Jan 26 03:05 PM | Likes Like |Link to Comment
  • Just a month after forecasting a 24% drop in mortgage originations in 2010, the Mortgage Bankers Association now sees a 40% drop coming, to $1.28T - the lowest level in a decade. Rates are widely expected to rise when the Fed wraps up MBS purchases.  [View news story]
    The Depression is already here.
    Jan 12 12:26 PM | 5 Likes Like |Link to Comment
  • A jobs report that was hard to stomach (though it was leavened a bit by some forward-looking inventory data) somehow didn't take the shine off of the week for stocks; in the first trading week of 2010, the Dow finished up 1.8%, S&P 500 up a solid 2.7% and Nasdaq up 2.1%.  [View news story]
    More jobs to be cut, no recovery - ever!
    Jan 8 07:49 PM | Likes Like |Link to Comment
  • All the gloom you never wanted: Paul Farrell collects the thoughts of the 12 most prominent "Dr. Dooms."  [View news story]
    He forgot to add these guys - instead he used mainstream hacks?
    Here's who he missed:
    Mike Stathis
    Jim Kunstler
    John Williams
    Jan 5 08:29 PM | Likes Like |Link to Comment
  • Macy's (M -0.9%) will close five stores to "selectively prune" underperforming spots; the stores are in Idaho, Michigan, Missouri, Montana and New Jersey.  [View news story]
    We're coming out of a recession, and moving into a very long depression. More retail to close, etc...
    Jan 5 03:48 PM | Likes Like |Link to Comment
  • Not a single bear in Barron's 2010 survey. (via Roger Nusbaum, whose 2010 S&P target is 1,000)  [View news story]
    Remember, everyone thought housing prices were going to keep going up too. Wrong.
    Dec 19 04:46 PM | 2 Likes Like |Link to Comment
  • Spain may be the leader in Moody's new misery index (which combines budget deficit with unemployment rate), but the U.K. and United States aren't too far behind.  [View news story]
    Yep, the U.S. is next. UK too (UK = 51st state).
    Dec 19 01:45 PM | Likes Like |Link to Comment
  • More signs of housing confidence, as lenders are easing down-payment standards for some applicants, who can borrow 95% of a home's value instead of 90%. Changes are happening on a market-by-market basis, but indicate some companies think the worst is over for price declines.  [View news story]
    I totally agree!

    On Dec 19 08:13 AM Michael Clark wrote:

    > This is the same insanity that got us in trouble before. Trying
    > to make the fast buck. And what happens when Bernanke runs out of
    > money to backstop stocks and bonds, when interest rates go up, and
    > when stocks fall and the so-called 'recovery' turns back down.<br/>
    > We have madmen running our society -- madmen who think only of quick
    > money. Our leaders think only of quick money also. Bernanke is
    > obviously the master of quick money.
    Dec 19 01:43 PM | Likes Like |Link to Comment
  • The FDIC celebrates the last business-as-usual Friday of the year by announcing a total of seven bank failures, bringing the year's total to a nice round 140. Banks were closed in California (2), Texas, Georgia, Michigan, Florida, Alabama and Illinois. Total assets of the seven banks were $14.4B. Estimated cost to FDIC: $1.8B.  [View news story]
    I think it's worse then the S&L mess. We'll soon see, staring next year.
    Dec 19 01:36 PM | Likes Like |Link to Comment
  • Even with 10% unemployment, there's no shortage of demand for foreign hires. This year's quota of 65,000 H-1B visas is all but exhausted, less than three months into the government's fiscal year.  [View news story]
    They'll work for peanuts. This country sold out long ago.
    Dec 12 09:44 PM | 1 Like Like |Link to Comment
  • Matt Taibbi: Obama's Big Sellout [View article]
    Taibbi is hardly main stream. This country needs more reporters like Matt.
    Dec 12 09:39 PM | 8 Likes Like |Link to Comment
  • American dream part 2: Default, then rent. More anecdotal evidence of people willing to take the credit hit of walking away from a mortgage, in order to free up cash for day-to-day use.  [View news story]
    Morons, you can't just blame O, this all started with Reagan, Greenspan, W., Rubin, and to be fair Clinton, and a bunch of others. This economy is not coming back. Apparently, some people in this country are in denial, and have no clue about world history. Just amazing that some people in this country, think things can always come back, that America is some how is entitled, and so on. How wrong these people are, how utterly spoiled they really are. Good luck folks...
    Dec 11 08:36 PM | 8 Likes Like |Link to Comment