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HomeGood News!! Credit Card Delinquencies Declining
Posted by Larry Doyle on June 16th, 2010 1:30 PM |
In the midst of challenging twists and turns along our economic landscape, I find it heartening to come across a bit of positive news.
Declining credit card delinquencies should be juxtaposed to the fact that mortgage delinquencies continue to increase. That divergence indicates to me that American homeowners are making their card payments prior to their mortgage payments. Why? Banks will quickly pull their cards while working with homeowners to modify their mortgages and allowing them to remain in their homes for an extended period. (more…)
Fannie and Freddie Ordered to Delist from NYSE
Posted by Larry Doyle on June 16th, 2010 11:28 AM |
Fannie and Freddie don’t live here anymore.
News just broke that the stocks of our two government stepchildren, Fannie Mae and Freddie Mac, have been ordered to delist from the NYSE. The Washington Post reports, Fannie Mae, Freddie Mac to Delist Shares from NYSE:
The companies’ regulator, the Federal Housing Finance Agency, said Wednesday that it expects Fannie Mae and Freddie Mac shares to trade on the Over-the-Counter Bulletin Board, an electronic quotation service. (more…)
At the Corner of Wall Street and the Gulf of Mexico
Posted by Larry Doyle on June 16th, 2010 9:43 AM |
The distance from the canyons of lower Manhattan to the now soiled beaches of the Gulf Coast runs about 1300 miles. A long way and decidedly different lifestyles, you may think? I do not think so. In very real terms, the economic disasters centered in each of these locales are virtually contiguous.
As I watched a replay of President Obama’s speech last evening (Red Sox and Celtics games took priority until both those games were effectively decided), I was struck by one segment of Obama’s speech and the stark similarity in the disasters centered on Wall Street and the Gulf. Which segment and which similarity? (more…)
Roubini: “How to Avoid Double Dip Global Recession”
Posted by Larry Doyle on June 15th, 2010 5:05 PM |
I need to make a point, on a more regular basis, of visiting my Sense on Cents link to Project Syndicate. This site provides a virtual treasure trove of fabulous writers and insightful global perspectives. For example, widely read and renowned economist Nouriel Roubini offers what policymakers should do in writing, How to Avoid a Double-Dip Recession:
First, in countries where early fiscal austerity is necessary to prevent a fiscal crisis, monetary policy should be much easier – via lower policy rates and more quantitative easing – to compensate for the recessionary and deflationary effects of fiscal tightening. In general, near-zero policy rates should be maintained in most advanced economies to support the economic recovery. (more…)
Stephen Roach Provides Global Sense on Cents
Posted by Larry Doyle on June 15th, 2010 2:57 PM |
Day traders and those running long only equity positions are focused on positive spin attached to this morning’s New York manufacturing report. Investors with a slightly longer term perspective and more balanced global outlook might be interested in the thoughts and analysis of chairman of Morgan Stanley Asia Stephen Roach, who was interviewed this morning on Bloomberg.
Roach touches all the bases. This clip runs approximately 8 minutes. The sense on cents provided by Stephen Roach will last a lot longer than that. Clicking on the image (above) brings you to the Bloomberg site where the video clip will begin playing (be patient, it may take a few seconds to load). — LD
SEC’s Senior Staff/Inmates Are Running the Asylum **STRONGLY RECOMMENDED**
Posted by Larry Doyle on June 15th, 2010 9:07 AM |
Any employee in any organization knows that an internal disciplinary double standard is the quickest way to kill morale. Happens all the time, right? Likely even worse in organizations with lots of bureaucracy? Uncle Sam would not know how to operate otherwise, you say? The answers to all those questions may be the affirmative, but that does not make a double standard right nor does it mean that it should be tolerated. Why do I broach this topic?
Our friends at the Project on Government Oversight (POGO) released a report just yesterday highlighting the pathetic disciplinary measures and massive double standard at the SEC in responding to recommendations from its own Office of Inspector General (OIG). POGO reports:
….this is not the first time the SEC has refused to follow an OIG recommendation for disciplinary action. (more…)
Brits Teach America Lesson on Credibility and Transparency
Posted by Larry Doyle on June 14th, 2010 2:25 PM |
Spending money one does not have and making promises one can not keep is no way to run a business let alone a country.
The changing of the guard at 10 Downing Street has also brought about a change in the willingness of the British government to face these realities. The reality of the British economy may not be pretty but it is real and it will not change based purely upon false hope and government artifice.
The Financial Times highlights the ‘tough love’ and ‘financial rigor’ that the regime of new British Prime Minister David Cameron is serving the British populace.
(more…)
Gaelic Sense on Cents
Posted by Larry Doyle on June 14th, 2010 11:45 AM |
While the United States has very clearly chosen the Japanese path of ‘kicking the can down the road’ to deal with our current economic crisis, the Republic of Ireland has chosen the Swedish approach of ‘take your medicine as quickly as possible.’ Economists and analysts will debate the merits and shortcomings of each style for a long time. That said, is there anything we can learn currently from our friends in Ireland? (more…)
No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Back Daryl Montgomery, Sunday Night at 8pm ET
Posted by Larry Doyle on June 12th, 2010 8:05 PM |
UPDATE: This episode of NQR’s Sense on Cents with Larry Doyle has concluded. You can listen to a recording of the episode in its entirety by clicking the play button on the audio player provided below. Once the audio begins, you can advance or rewind to any portion of the episode by clicking at any point along the play bar.
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The wizards in Washington and on Wall Street will prop the market and talk up the economy because they can.
Where can you go to get independent, unbiased insights and analysis of the economy, markets, Wall Street, Washington, and the global financial landscape? You have come to the right place as this Sunday (8-9pm ET), No Quarter Radio’s Sense on Cents with Larry Doyle Welcomes Back Daryl Montgomery.
Daryl is a fellow author at Seeking Alpha. Additionally, Daryl writes his own blog, The Helicopter Economics Investing Guide, while leading an initiative known as the New York Investing Meetup:
If you are looking for a profitable alternative to Wall Street hype, the New York Investing meetup is the place to go. Our goal is to provide timely, unbiased, reliable, cutting-edge investment analysis and education that our members can use for money-making investing decisions.
We do this by monitoring, organizing and interpreting financial news to create an accurate picture of broad trends in the macroeconomic and investing environment. This analysis is then used to find which areas of the market offer the best investing opportunities and most dangerous pitfalls. We further refine our results for more immediate action by using technical analysis and to a lesser extent, fundamental analysis. We don’t just present investing analysis, but also attempt to explain the thinking behind it, so our members can learn over time to do it themselves.
We deliver this information with presentations by the organizer and guest lecturers. Lecturers are selected for the timeliness and quality of their material, their ability to communicate it and their lack of a hidden agenda. They must produce informational talks and are not allowed to use their lectures to make a sales pitch.
In similar fashion, Sense on Cents is strictly ‘selling’ truth, transparency, and integrity as we look to help you navigate the economic landscape. Listen LIVE at the BlogTalkRadio website. Dial in with questions at 347-677-0792 or join our always energized chatroom. As a reminder, all NQR shows are taped, archived, and available as podcasts on iTunes. Thank you to Larry Johnson and No Quarter Radio for providing such a fabulous outlet.
LD
