EconomicPolicyJournal.com

tag:blogger.com,1999:blog-37583306783904191292010-02-09T12:33:12.313-05:00EconomicPolicyJournal.comRobert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.comBlogger5000125tag:blogger.com,1999:blog-3758330678390419129.post-64242958004118219192010-02-09T12:27:00.003-05:002010-02-09T12:33:12.322-05:00Chinese Military Waving the Dump U.S. Bonds Threat.

Senior Chinese military officers have proposed that their country boost defense spending, adjust People's Liberation Army deployments, and possibly sell some U.S. bonds to punish Washington for its latest round of arms sales to Taiwan, reports Reuters.Interviews with Major Generals Zhu Chenghu and Luo Yuan and Senior Colonel Ke Chunqiao appeared in Outlook Weekly, a Chinese-language magazine,

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-90703078599588805932010-02-09T12:16:00.003-05:002010-02-09T12:22:05.038-05:00German Bonds Plunge

German bonds are plunging on reports that a rescue package will be put together for Greece.According to Bloomberg, Germany's Finance Minister will address lawmakers on Greece, tomorrow. Obviously, the lawmakers reaction will be key.Stay tuned.

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-83446383024412839652010-02-09T12:03:00.002-05:002010-02-09T12:09:11.096-05:00Report: Euro Zone Has Agreed in Principle to Aid Greece

Euro zone countries have decided in principle to help debt-stricken Greece, a senior German ruling coalition source said on Tuesday, reports Reuters."The decision on help for Greece has been taken in principle within the euro zone," said the source. Various options were being considered and no decision had yet been taken but the most likely possibility was to offer Greece "bilateral help", said

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-32770560065727261372010-02-09T11:53:00.002-05:002010-02-09T12:02:35.872-05:00Medina Soaring in Texas

Public Policy Polling has Debra Medina within 4 points of Kay Bailey Hutchinson in the Republican race for Texas governor. This despite Sarah Palin campaigning for Rick Perry.Rick Perry 39Kay Bailey Hutchison 28Debra Medina 24PPP was the first polling outfit to detect the surging Scott Brown in Massachusetts that ultimately resulted in his election.PPP asks: Could the Republican primary for

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-14382358658931915542010-02-09T11:20:00.004-05:002010-02-09T11:47:13.206-05:00Ben Bernanke,M3 Collapsing and What It Means

John Williams of Shadow Stats puts out some solid data.His latest subscriber based newsletter shows a huge plunge in inflation adjusted M3 (Yes, the Fed stopped tracking it but he hasn't). His compilation for real M3 is that it has declined by 5.2% from Jan '09 to Jan '10.His conclusion:This particular signal on looming economic activity rarely is seen, but once it is generated, it is solid. The

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-4209132495838004382010-02-09T11:03:00.002-05:002010-02-09T11:18:42.549-05:00Buffett versus Soros; Who Is the Better Trader?

Michael Berger emails: Heard this morning on CNBC that [Nicholas Naseem]Taleb said [Warren] Buffett's success has been due to luck; that [George]Soros is a much better trader.I always thought that about Buffett: he basically has profited by massive inflation for decades.I thought Buffet would have been decimated, financially, a year or so ago, if the Gov't & Fed Reserve had not thrown trillions

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-32293087754150420562010-02-09T10:43:00.002-05:002010-02-09T10:57:57.875-05:00It's Blame the Speculators Time in Spain

Irresponsible fiscal policies in Spain are resulting in a huge plunge in the value of Spanish debt.The downward pressure is being accelerated by various hedge funds, who are attempting to bring the price of Spanish debt in line with where it should be, i.e., the toilet. This is market efficiency in action. The hedge funds are forcing the debt down so that the less careful investors don't buy in

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-46398252791385976162010-02-09T10:38:00.001-05:002010-02-09T10:40:08.019-05:00S&P Goes Negative on Citi and BofA

S&P has revised the outlook for Citi and BofA to negative from stable.

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-28794320343929845442010-02-09T09:57:00.003-05:002010-02-09T10:35:22.633-05:00Chiesi: I'm Going to Walk

With a confidence not seen since John Gotti fixed juries, Danielle Chiesi, the former hedge fund analyst who is accused of insider trading by the SEC, told Reuters that "There is not even a chance we will do one day in jail. We didn't do anything wrong." The "we" she was referring to was herself and Raj Rajaratnam, the leader, according to the SEC, of an insider trading ring. It's "an honor and a

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-52675283786034054242010-02-09T07:24:00.002-05:002010-02-09T07:35:56.082-05:00More Iranian Warnings About 2-11

Something is up.Last week, Iranian President Mahmoud Ahmadinejad said that Iran will deliver a harsh blow to "global arrogance" on February 11.Iranian Supreme leader Ayatollah Ali Khamenei is now out with pretty much the same message."The Iranian nation, with its unity and God's grace, will punch the arrogance (Western powers) on the 22nd of Bahman (February 11) in a way that will leave them

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-28466039974891368312010-02-08T22:49:00.002-05:002010-02-08T22:58:16.803-05:00More Panic Talk Out of Greece

These guys have no clue as to what to do.As financial sophisticates continue to pound on Greek debt, Greek Finance Minister George Papaconstantinou said he can’t call for outside aid. “The worst possible signal which we could send out is one calling for outside help,” he said in an interview with Bloomberg Television in Athens yesterday. “We will tackle the deficit,” he said, adding that tax

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-44849126487210442962010-02-08T22:32:00.003-05:002010-02-08T22:43:11.994-05:00Geithner to Meet with Global Warming Crazies and Opportunists, in Snow Buried D.C.

On Tuesday morning, Treasury Secretary Geithner will host a breakfast meeting for members of the U.S. Climate Action Partnership, an alliance of leading businesses and environmental organizations that have advocated for federal climate legislation. Secretary Geithner will then join the President and the Vice President to meet with bipartisan leaders of the House and Senate to discuss working

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com2tag:blogger.com,1999:blog-3758330678390419129.post-51110488234820150682010-02-08T21:31:00.005-05:002010-02-08T23:14:01.267-05:00The Breakdwon of the BLS Models

Last week, when the BLS numbers came out, I highlighted the huge upside swing in the birth/death index:Most bizarre about the January number is that the notorious and mysterious fudge factor, the birth/death index had a huge downward adjustmnet.. The January Birth/Death adjustment was -427,000 from +25,000 in December. Got that? Without the Birth/Death downward index adjustment (which is

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-79590261480356758582010-02-08T20:35:00.006-05:002010-02-08T21:14:14.937-05:00The Porn Surfer Gang

The NYT is running a goofy puff piece on the notorious porn surfers, the SEC.I have no idea what the purpose of this piece is other than some kind of bad PR effort by some outside PR agency trying to prove they are earning the money the SEC is paying them.As for real work, SEC incompetence, harassment of traders and political favoritism continues.They continue to protect their inner club, they

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-27332067873599171772010-02-08T14:30:00.002-05:002010-02-08T14:41:51.751-05:00LA School District to Raise $1.75 Billion

Keep an eye on this.The Los Angeles Unified School District, the nation’s second-largest after New York, plans to sell as much as $1.75 billion of bonds in mid-February to fund a school construction program called the largest in the U.S.,. reports BloombergAbout a third of the offering will be conventional tax- exempt debt and two-thirds taxable Build America Bonds.Taxable Los Angeles school

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-53678531114832352242010-02-08T13:19:00.003-05:002010-02-08T13:40:21.845-05:00$8 Billion Bet Against the Euro

Traders and hedge funds have bet nearly $8 billion against the euro, amassing the biggest short position in the euro ever, reports FT.Investors increased their short positions against the euro to record levels in the week ending February 2, according to the latest figures from the Chicago Merc.The build-up in net short positions represents more than 40,000 contracts traded against the euro,

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-77074474399015048022010-02-08T12:39:00.002-05:002010-02-08T13:05:20.588-05:00Bleg

I have been using Google's Blogger to post at EPJ. However, I have been posting via their FTP option which allows me to post away from Google and not use them as host for EPJ.Google is taking away this option, which means that for me to stick with Blogger/Google I will have to use Google as my host site. Given the nature of my posts, I can see this as a problem in the making. More than likely

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com4tag:blogger.com,1999:blog-3758330678390419129.post-89437095741799209442010-02-08T12:06:00.003-05:002010-02-08T12:12:29.649-05:00Rumor of the Day: Goldman Sachs and George Soros as Tag Team

Goldman Sachs and George Soros are rumored to be leading the attack on Greek debt.Crushing a profligate spending government is not a bad thing. Go George, Go Lloyd!

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-27134781604610978522010-02-08T11:52:00.002-05:002010-02-08T12:02:31.961-05:00Hedge Fund Manager: I Want My Rent Control!

NyPo reports:A hedge-fund millionaire is fighting to keep the greatest deal in New York real estate since Peter Minuit bought Manhattan Island -- a $380-a-month Park Avenue duplex.Ross Haberman has a conniption in a Manhattan Supreme Court lawsuit over a vote by the building's board -- which is made up of his own family members -- to get the rent on his sprawling luxury apartment at 737 Park Ave.

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-4353662257686464262010-02-08T11:38:00.004-05:002010-02-08T11:43:39.675-05:00US Magazine Circulation Falls 9 pct at Newsstands

It's all about the internet.The second-half 2009 drop in newsstand sales follows a decline in the first half of 2009, when publishers saw a year-over-year drop of 12 percent, according to figures released Monday by the Audit Bureau of Circulations.Paid subscriptions, meanwhile, fell by 1.1 percent in the second half.

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-60757717842519802692010-02-08T10:54:00.004-05:002010-02-08T11:11:43.092-05:00Exploded Connecticut Power Plant Was a Goldman Sachs Deal

Goldman Sachs underwrote the $985 million Kleen Energy plant, where at least 5 died on Friday when the plant exploded. US Power Fund was the lead investor. On June 13, 2008, US Power Fund II, along with affiliated EIF fund US Power Fund III, committed the majority of the construction equity in the 620 megawatt natural gas- and oil-fired combined-cycle power generation facility that was under

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-84795330231747922342010-02-08T10:10:00.002-05:002010-02-08T10:28:33.829-05:00Deutsche Bank And Unicredit Cease Lending Against Greek Collateral

It's bad out there.Google translation from Greece's Banking News (via ZeroHedge): We came to where big banks like Deutsche Bank German and Italian Unicredit Group does not accept bonds as collateral Greek and refuse to lend in the repo market for Greek banks.It should be noted that Greek banks say when we mean big banks too big. In the last 2 to 3 weeks 3 -4 Greek banks have been requested by

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-89608822814642292592010-02-08T08:33:00.002-05:002010-02-08T08:41:44.644-05:00Wolin in Jeddah

Of note:On Sunday, February 14, 2010, Deputy Treasury Secretary Neal Wolin will participate in the Jeddah Economic Forum's Panel Discussion on Global Economic Governance after the Crisis Hilton Hotel ,North Corniche Road, Jeddah, Saudi Arabia.Wolin, of course, is the Deputy Treasury Secretary whose bio was erased from the web site of his former employer and also removed from Google cache, at the

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com0tag:blogger.com,1999:blog-3758330678390419129.post-78772712262983781902010-02-08T07:40:00.005-05:002010-02-08T10:01:27.583-05:00Is Clueless Ben about to Crash the Economy, Big Time?

This is the most remarkable financial report that I have ever seen. It comes from Jon Hilsenrath at WSJ:Federal Reserve Chairman Ben Bernanke will begin this week to lay out a blueprint for a credit tightening, to be followed once the Fed decides the economy has recovered sufficiently.The centerpiece will be a new tool Congress gave the central bank in October 2008: an interest rate the Fed pays

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com2tag:blogger.com,1999:blog-3758330678390419129.post-90954901592856388132010-02-08T03:25:00.000-05:002010-02-08T03:25:00.390-05:00Lord William Rees-Mogg on Sound Money, Austrian Economics and British Government Reform

The editors of The Daily Bell are pleased to present an exclusive interview with legendary London Times editor, Lord William Rees-Mogg.Introduction: Former London Times editor Lord William Rees-Mogg attended Charterhouse and Balliol College, Oxford and was President of the Oxford Union in 1951. He became a writer for The Financial Times in 1952, and then moved to The Sunday Times in 1960. He was

Robert Wenzelhttp://www.blogger.com/profile/12653378186315529211rw@economicpolicyjournal.com2