Value and whether or not any one has a handle on it is an idea that has been bouncing around in my head for about a month. Here are a couple of items that would indicate that everyone is guessing. AIGannounced that it sole Hartford Steam Boiler for $743 million. It bought the company in [...]
Archive for December 22nd, 2008
Continuing my meme that the biggest threats we now face are external, let me point you to a couple of items. As reported in the Telegraph, Japan has experienced two consecutive months of a trade deficit despite a considerable tailwind from falling oil prices. The shock data came as the Japanese Cabinet Office warned that the [...]
If you read this earlier and are just now scraping yourself off of the ceiling, I apologize making you go ballistic once more. The WSJ and others reported that the new beggar at the Treasury’s bailout window is the commercial real estate industry. A recent letter sent to Treasury Secretary Henry Paulson, and signed by [...]
Just in case you were wondering how fast the Fed has expanded the monetary base, here’s a graph (click on it for a larger view) from FTAlphaville that pretty much puts it into perspective. The point of the article is that the U.S. has not only been much more agressive at the outset than was Japan [...]
As if the country didn’t have enough on its plate, we get this little bit of news. Yahoo reports that the influence of California both within the Obama administration and in both houses of Congress is going to be substantial. Though it’s a little hard to take, here is a sample of the hyperbole: Perhaps [...]
Steve Randy Waldman doesn’t put up a lot of posts but when he puts one up it covers a lot of ground. This one on the Fed, its balance sheet and its plans is well worth reading.