Jim Bianco: The Bull Stock Market Is Almost Over
January 27 — A bull market is raging in U.S. stocks, with the Standard & Poor’s 500 Index up 4.5 percent so far this year.
But Jim Bianco, president of Bianco Research, doesn’t think the good news will last much longer. Stocks may rise another 5 or 6 percent, and then that’s it, he tells Yahoo. Read more.
Nouriel Roubini Holds Little Hope of Global Economic Fix
January 27 — The economist widely acknowledged to have predicted the financial crash of 2008 holds little hope that global economic troubles will be fixed anytime soon and warns that without major policy changes things can still get much worse.
Nouriel Roubini, nicknamed "Dr. Doom" for his gloomy predictions in the run-up to the financial meltdown four years ago, said the fallout could last the rest of this decade. Read more.
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Harvard’s Rogoff: Printing Money Won't Help Europe
January 27 — The eurozone needs major reform and structural overhaul, but changes shouldn't resort to boosting liquidity to ease credit conditions, known as easing, says Kenneth Rogoff, a Harvard University professor and former chief economist of the International Monetary Fund.
While the European Central Bank has not stepped in and snapped up assets from banks with freshly printed money as the Fed has done to stimulate its economy, it has undertaken similar measures by providing banks with cheap, three-year loans. Read more.
Harvard’s Feldstein: Fed Can't Pull US Out of 'Danger Zone' of Slow Growth
January 27 — U.S. economic growth may not top 2 percent this year and a third round of quantitative easing by the Federal Reserve would have little effect, said Martin Feldstein, a professor of economics at Harvard University.
“We’re going to have a hard time reaching 2 percent this coming year,” he said in an interview on Bloomberg Television’s “InsideTrack” with Sara Eisen in New York. The economy is still in a “danger zone,” Feldstein said, even as the recession risk “is less now than it was.” Read more.
Stephen Roach: Recovery? Oh, Please.
January 27 — I had breakfast yesterday with Steve Roach, one of Wall Street's most respected economists. Steve is now the chairman of Morgan Stanley Asia and a professor at Yale.
In addition to getting Steve's latest take on the global economy (gloomy), I learned that he is married to my second grade teacher, whom I remember fondly.
On to Steve's thoughts about the economy ... Read more.
Citigroup’s Orszag: US Faces 3-Prong Financial Disaster
January 26 — The U.S. economy will battle a perfect storm in 2013, as three events collide into one huge super cell that could wipe out what little recovery has occurred to now, says Peter Orszag, the vice chairman of global banking at Citigroup.
Congress by early 2013 must address crucial legislation on the Bush-era tax cuts, defense spending and raising the debt ceiling again. Read more.
Gary Shilling: Fed Strategy Won't Stave off Recession
January 25 — The Federal Reserve's decision to extend its very accommodative monetary policies for another year reflects a view that inflation is much less of a threat than a return to a more crippling recession, says investor and author A. Gary Shilling.
The Fed recently said interest rates will stay very low through the end of 2014, longer than originally thought, while further stimulus measures such as quantitative easing cannot be ruled out. Read more.
Pimco’s Gross Predicts Repression With More Fed Easing
January 25 — The U.S. will suffer “financial repression” as the Federal Reserve implements additional quantitative easing, according to Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co.
A third, fourth and fifth round of easing “lie ahead,” Gross wrote in a Twitter post. The Fed will probably hold its benchmark interest rate at near zero percent for at least the next three years, the post said. Chairman Ben S. Bernanke said yesterday the Fed is considering additional bond purchases to boost growth after extending its pledge to keep interest rates low through at least late 2014. Read more.
01/27/12 - Technical Indicators: A Love-Hate Relationship
Part I: How One Technical Indicator Can Identify Three Trade Setups 01/25/12 - Will Iran Kill the Petrodollar?
The official line from the United States and the European Union is that Tehran must be punished for continuing its efforts to develop a nuclear weapon. The punishment: sanctions on Iran's oil exports, which are meant to isolate Iran and depress the value of its currency to such a point that the country crumbles. |
01/26/12 - Credit Crisis: Are We Set Up for The Perfect Storm?
Robert Prechter discusses what's backing your dollars In this video clip, taken from Robert Prechter's interview with The Mind of Money, Prechter and host Douglass Lodmell discuss "real" money vs the FIAT money system, and what is backing your dollars under our current system. Enjoy this 4-minute clip and then watch Prechter's full 54-minute interview. Read More. 01/27/12 - Waist Deep in the Big Muddy
With its announcement this week that it will keep interest rates near zero until at least late 2014, the Federal Reserve has put another large crack into the foundations underlying the US dollar. In a misguided attempt to provide clarity and transparency, Ben Bernanke has instead laid out a simple road map for economists and investors to follow.
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