Archive for June 2008

What Ever Happened To Thrift?

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 »

Bernanke Continues To Jawbone About Inflation

Moreover, the latest round of increases in energy prices has added to the upside risks to inflation and inflation expectations.  The Federal Open Market Committee will strongly resist an erosion of longer-term inflation expectations, as ...
Posted by Greg Feirman  ·  No Comments »

Job Losses = Dollar Drop = Oil Rise = Stock Market Crash

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

June 5, 2008  ·  Category: Macro Economics, Market Commentary, Stocks
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 »

Front Page WSJ Article On Bernanke’s Speech Yesterday

June 4, 2008  ·  Category: Federal Reserve, Foreign Exchange, Inflation
[Chairman Bernanke] went today where no other Fed chairman has gone in my 20 years of doing this.  He dove into the deep end of the dollar policy pool. - David Gilmore (subscription required), Foreign Exchange Analytics As ...
Posted by Greg Feirman  ·  No Comments »

What Tanked The Market At 1:30pm EST Today?

June 3, 2008  ·  Category: Market Commentary, Stocks
I can't quite figure out why the market started tanking at 1:30pm EST today (S&P Intraday Chart). I want to cheat and say it was GM's ugly May Sales Report in which they announced a 28% ...
Posted by Greg Feirman  ·  No Comments »

Bernanke Talks Up The Dollar

In collaboration with our colleagues at the Treasury, we continue to carefully monitor developments in foreign exchange markets.  The challenges that our economy has faced over the past year or so have generated some downward ...
Posted by Greg Feirman  ·  No Comments »