Archive for February 19th, 2009

A Closer Look At Obama’s Foreclosure Plan

The more you look at the Obama foreclosure remediation plan the more you get that queasy feeling. Not the cost so much but just the sense that they really haven’t thought this through. Let me give you an example. According to what we know right now, anyone with a Fannie or Freddie loan will be [...]

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Ford Forges On Without The Government

Consumers seem to prefer buying cars and trucks from companies that look like they have a future even though they may be American. Ford’s share of the domestic market has been increasing and customers that own competing brands are evidently more willing to buy Ford products. From the Wall Street Journal: At the same time, [...]

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Times Get Tougher At The New York Times

The New York Times Company suspended its dividend payments today. The struggling company had reduced the dividend to $.06 per share in November. The reduced dividend payment would appear to signal some degree of desperation on the part of the company. It will save only $34.5 million a year which is a pittance given the [...]

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Ken Rogoff Wants Inflation Target Set At 6%

A noted economist has suggested that the Fed needs to set an inflation target far higher than the one announced yesterday. Kenneth Rogoff, formerly the chief economist of the IMF, said that the rate needs to be 5% to 6%. The good professor was one of the few who called the crisis ahead of time and now [...]

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Data Point Of The Day

Well we’ve been waiting for that one little sign that things were getting better. Just that obscure off-the-wall event that indicated positive change was just around the corner. Now we have it. Tiger Woods is teeing it back up on the PGA Tour next week. Hey, if it just provides diversion from economists sliming each [...]

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Rick Santelli Incites A Riot On The Trading Floor

CNBC’s Rick Santelli’s rant about the Obama foreclosure plan. This one is an instant classic.

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The Day’s Economic Numbers

OK, here’s the business news that fit to print. The four week moving average for unemployment was 619,000 which is a 10,500 increase over the prior week. Link here. Producer prices were up 0.8% for January. Taking out food and energy, prices were up 0.4%. Link here. The Philly Fed Index fell to a negative [...]

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