Macro Economics Archive
Monday Reading: The Big Picture
July 28, 2008 · Category: Macro Economics, Business and Investment Philosophy, Stocks, Market Commentary, Geopolitics
I've come across some really good pieces the last couple of days that I want to share:
"Generalists can have some advantages, including being able to 'focus on the true, single hinge issue' of a company', ...
Posted by Greg Feirman · No Comments »
Same Story At WaMu
Today after the close Washington Mutual (WM) announced a $3.3 billion 2nd quarter loss driven by a $6 billion provision for loan losses (WM Earnings Release).
WaMu has a quarter trillion dollar ($250 billion) loan portfolio, ...
Posted by Greg Feirman · No Comments »
The Banks Are Getting Killed
As we all know, the housing market is driving everything in this bust. And the financials, as the source of all the financing for the housing market, have borne the brunt of the pain and ...
Posted by Greg Feirman · 1 Comment »
Pawn Shop Business Booming
July 7, 2008 · Category: Macro Economics, Stocks
Cash America (CSH), operator of about 500 pawn shops in the United States, today significantly increased their expectations for 2nd quarter earnings.
Pawn shops make money by lending money that is collateralized by the borrower's personal ...
Posted by Greg Feirman · 1 Comment »
WSJ: Construction Loans Could Be Next Big Headache
The Wall Street Journal had an interesting article today ("Small Banks Reckoning Day Is Coming" (subscription required), Wednesday July 2, C2) on rising delinquencies on construction loans made to builders by regional banks. This chart of soaring ...
Posted by Greg Feirman · No Comments »
Fed Ex And UPS Show Economy Is Weak
Slow U.S. economic growth and an unprecedented increase in the cost of fuel have resulted in lower-than-expected U.S. package volume and an accelerating contraction in the use of premium air products. In addition, the anemic ...
Posted by Greg Feirman · No Comments »
What Ever Happened To Thrift?
June 10, 2008 · Category: Macro Economics, Culture and Current Events, Business Culture and Current Events, Federal Reserve, Geopolitics
The people who created this country built a moral structure around money. The Puritan legacy inhibited luxury and self-indulgence. Benjamin Franklin spread a practical gospel that emphasized hard work, temperance and frugality. Millions of parents, ...
Posted by Greg Feirman · No Comments »
Job Losses = Dollar Drop = Oil Rise = Stock Market Crash
June 6, 2008 · Category: Macro Economics, Commodities, Market Commentary, Foreign Exchange, Geopolitics
The unemployment rate rose from 5.0 to 5.5 in May, and nonfarm payroll employment continued to trend down (-49,000), the Bureau of Labor Statistics of the US Department of Labor reported today.
- May Jobs Report, ...
Posted by Greg Feirman · No Comments »
Discounters Report Strong May Sales
Retailers reported supposedly strong May sales this morning. But I don't know that they were really all that strong. Discounters like Walmart and Costco were strong. But department stores and speciality retailers weren't all that ...
Posted by Greg Feirman · No Comments »
J Crew And Tiffany’s Reports Echo Familiar Theme: Weak US, Strong International
May 30, 2008 · Category: Macro Economics, Stocks
Retailer J Crew (JCG), which has 267 stores all in the US, reduced guidance for 2008 in an otherwise strong 1st quarter earnings report yesterday after the close. They took down full year EPS forecasts ...
Posted by Greg Feirman · No Comments »
