This mornings Wall Street Journal article on the stock markets lost decade gives me an excuse to publish one of my favorite charts– the really long term history of the stock market PE back to 1871.If you listen to Wall Street strategist they frequently talk about the long term average of the stock market PE […]
An article by Peter Bernstein is circulating that is such a good analysis of the economic environment that I though it was worth posting on Angry Bear. The Shape Of The Future By Peter L. Bernstein Three months ago, we wrote, “[T]he economic malaise will not be brief, even though its depth is uncertain. The […]
Tanta at CRtakes a different tack on BS and Stampf at Wells Fargo: Yves at naked capitalism had a good post yesterday on the infamous Bear Stearns Ten Buck Rechuck, that I think needs repeating: According to Sorkin, the $2 price for Bear was the Fed’s and Treasury’s idea; JP Morgan was prepared to pay […]
Reuters reports: Worcester, Massachusetts – On Lagrange Street in New England’s second-largest city, two brick apartment buildings stand side-by-side in varying stages of decay – boarded up, “No Trespassing” signs affixed, paint peeling.Across the street, a condominium complex is on the brink. Three of its eight apartments are in foreclosure. Like many cities in the […]
Ken Houghton gives a little perspective to the hurt that is being passed around. The pity party thrown last week by the WSJ for Bear’s senior, er, management appears to have omitted some data: Insiders at Bear sold a total of 715,000 shares last year worth more than $75 million, up from 2006 but down […]
Dean Baker writes: Progressives usually fight for the interests of those at the middle and bottom at the expense of those on top. However, during this period of unprecedented financial crisis, when the Wall Street rich are begging for the helping hand of the government, most progressives appear to be on the sidelines. Rather than […]
Chickenhawk and egg story. “may have a psychological effect on the public but it’s a tragedy that we live in a kind of world where that happens.” Dick Cheney
Building a New Blog One of my interests is Global Warming. While visiting the many global warming sites I noticed that many of the questions had to do with finding the latest data and comments. Googling I found that there appeared to be very few sites that consolidate this kind of information. So, in an […]
The Washington Post reports on recent GAO congressional testimony about a basic security concern. Government agencies have a long way to go before they can assure taxpayers that the country’s secrets – as well as citizens’ personal information – are secure, according to recent government reports. In fact, the Government Accountability Office testified to Congress […]
Paul Berman in an op-ed in the NYT decribes anothe perspective on radical, modern Islamic extremists. I tried to show that radical Islamism is a modern philosophy, not just a heap of medieval prejudices. In its sundry versions, it draws on local and religious roots, just as it claims to do. But it also draws […]