Floyd Norris lists the Unlucky 13, a.k.a., my portfolio.* Ignoring AIG (of which more later, maybe), here are the top Market Cap losers in the S&P 500 YTD, who combined have dropped by more than half a trillion dollars: EXXON MOBIL GENERAL ELECTRIC MICROSOFT AT&T CITIGROUP BANK OF AMERICA After reading that list, I fully […]
McCain and Obama on Lehman BrothersMcCain: “The crisis in our financial markets has taken an enormous toll on our economy and the American people — first the decline of our housing markets followed by the collapse of Bear Stearns, Fannie Mae, Freddie Mac and now Lehman Brothers. I am glad to see that the Federal […]
Lots of material in the speech.
I’m on vacation, but had time to notice with all that is going on in the financial markets nobody noticed that industrial production fell 1.1% in August. Moreover, the June and July data were revised down. This is another observation supporting the analysis that third quarter real GDP growth will be very weak and maybe […]
Kevin Drum asks But here’s a question for one of the serious econ-bloggers out there: Have lots of big non-U.S. banks collapsed? There was Northern Rock, but anyone else? Are any European financial systems in danger of meltdown? Why not? I like to think of myself as a serious econ-blogger, but don’t claim the title […]
AngryBear Commenter Mooser Gives Some Financial Advice When Bush was elected, we paid off the house and took our money out of investments and into insured accounts. I advise others not to do the same. When you have no house payment, you feel like you are living in somebody else’s house. It’s a very anxious […]
Hat tip to vtcodger for this catch: Naked Capitalism makes a comment and uses Bloomberg: We noted a few weeks ago that between large amounts of short term financial firm debt maturing in the third and fourth quarters, banks still leery of lending to each other, and liquidity always lower at year end (banks pull […]
Andrew Sullivan shares his thoughts on McCain: Editor’s Note: Historically a John McCain supporter, conservative journalist and blogger Andrew Sullivan takes on the issue of John McCain’s integrity as he strives to win the presidency. – vh/TO For me, this surreal moment – like the entire surrealism of the past ten days – is not […]
PGL alert! hat tip to OSO for the Luskin article. rdan_How does one frame the condition of the economy rather than just financials to us kids in the back of the class who tend to throw spitballs?? Economy is growing for instance, according to some. What is going on? Quit Doling Out That Bad-Economy Line […]
Let’s stipulate what “everybody knows”: There are some assets in the capital markets, many of which are mortgage-related, that were seriously overvalued over the past several years. Many of the others are Credit-related (CDS and CDOs and the like). Most of the two asset types listed above are reasonable concepts that, if they are commoditized, […]