Move the Markets

Guest Post: So Long, and Thanks For All The Fish

Posted on February 26th, 2008
Written by Prospectus

It’s been great to contribute to Move the Markets over the last year or so. I appreciate Richard allowing me to contribute. Without that, nobody ever would have read anything I had to say. Richard’s built-in readership base was just what I needed. I hope that I have brought something good [...]

Guest Post: There Just Aren’t Any Words

Posted on February 25th, 2008
Written by Prospectus

Well, not apart from these:
In this corner, we have S&P (”Sluts and Pimps”) reaffirming the AAA ratings on the monolines:
S&P Affirms MBIA, Ambac
Since the beleaguered bond insurance industry was thrust to the foreground of the credit crisis, MBIA has sold $1.6 billion of stock and $1 billion in bonds, fortifying a $17 billion cushion the [...]

Guest Post: Core CPI Up 0.3%; Ben Finds Religion

Posted on February 20th, 2008
Written by Prospectus

Bernanke is now between the “rock” of recession and the “hard place” of the soft dollar, with economic growth slowing and core inflation at 0.3% and rising. The Fed historically wants a core inflation at +0.2%, giving an annual rate of +2.4%, which is considered “price stability”. A rate of +0.3% puts us [...]

Guest Post: Uncle Howard on Yahoo Finance Front Page!!

Posted on February 14th, 2008
Written by Prospectus

Guest Post: Advance Retail Sales Aren’t What They Seem

Posted on February 13th, 2008
Written by Prospectus

I’m putting on my “robe and economist hat” here. The estimate of January Retail Sales just came out at +0.3%, compared to a consensus estimate of -0.3%. Because of this, futures are up sharply this morning, and the terrible, terrible recession of the first two weeks of January, 2008, is but a distant [...]

Guest Post: I’m In the Wrong Line of Work

Posted on February 12th, 2008
Written by Prospectus

Oh, if I had just gone to work in the car business! I’d be banking coin right now. $140,000 if you have 10 or more years of experience and want to forego all future benefits (like anyone in their right mind would count on them!). Um, yes, please!?
GM’s annual loss last year [...]

Guest Post: If Zillow Says it’s Bad…

Posted on February 12th, 2008
Written by Prospectus

In this article, it is stated:
More than 30 percent of U.S. homeowners who bought in the last two years owe more on their mortgage than their house is currently worth, a housing market research company said on Tuesday.
The housing market peaked in most U.S. markets in the last two years. Of home buyers in 2006, [...]

Guest Post: Scenes From Market History: The Water-Closeting of 1907

Posted on February 7th, 2008
Written by Prospectus

A look back in history today, as we see Jesse Livermore in a verbal pugilistic match with John Pierpont Jr. over the market conditions of the day in 1907:

Livermore banked $3,000,000 that day when he covered his shorts (and I don’t mean breeches).

Guest Post: Who Is Bernanke Saving? It’s Not the Banks

Posted on February 5th, 2008
Written by Prospectus

The Beard has a subtle message for the banks:

The amazing Michael Shedlock over at Mish’s Global Economic Analysis recently posted an article about leveraged buyouts and the effect of the current credit situation. Among many insights, he quotes an article from Financial Times that says:
Ironically, the Federal Reserve’s dramatic 1.25 percentage point cut in [...]

Guest Post: Everything Is Bigger In Africa

Posted on February 1st, 2008
Written by Prospectus

The continental landmass, the bugs, inflation…
Supermarket till slips show the price of chicken rose more than 236,000 percent to 15 million Zimbabwe dollars ($3) per 2.2 pounds between January 2007 and January 2008. Scarce eggs rose by 153,000 percent in the same period. One of the lowest increases of about 64,000 percent was on sugar, [...]