Stephen Roach is apparently unconvinced by those who argue that there is no housing bubble. From today’s Financial Times (subscription required): Five years after the bursting of the equity bubble, America has done it again. This time, it is the housing bubble. But this speculative excess may be the cruellest bubble of all – and […]
OPEC has decided to cut back on production. OPEC’s official price target is $22-$28 per barrel, yet this decision to cut back production when the price of oil is still above $40 indicates that they actually seem to prefer prices far higher than this official price target. As The Economist puts it, OPEC seems to […]
The November PPI report was released today. It came in a bit above expectations: The Producer Price Index for Finished Goods advanced 0.5 percent in November, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This increase followed a 1.7-percent gain in October and a 0.1-percent rise in September… […]
Not to turn this into a TV blog, but seriously, in what sense is Jenn more capable than Kevin? (And no, being on the cover of Maxim does not count.) AB
The company that produces Humvee Protective Plates has on its webcite this press release dated August 30, 2004, which noted: Some in Congress have accused the military of being lax in its provision of adequate protection equipment. During an April House Armed Services Committee hearing, Chairman Duncan Hunter (RCA) rebuked Army officials for not moving […]
So Bush is looking for a plan to squander our Social Security retirement funds? The Onion has a plan that the fans of the Seattle Seahawks might rejoice as is not squandered on another tax cut for Bill Gates. OK, the Hawks are a game behind the Packers and the Vikings and tied from the […]
We noted yesterday where Secretary Rumsfeld claimed the DoD was producing as fast as it can and supply is dictated by “a matter of physics, not a matter of money.” Via Julia at American Street comes this Bloomberg story: Armor Holdings Inc., the sole supplier of protective plates for the Humvee military vehicles used in […]
Jonathan McCarthy and Richard W. Peach of the New York Fed paint a relatively optimistic picture of the US’s housing market. From “Are Home Prices the Next Bubble?” FRBNY Economic Policy Review, Dec 2004: Home prices have been rising strongly since the mid-1990s, prompting concerns that a bubble exists in this asset class and that […]
Anyone else think that having Jack revive Charlie was pretty much the low point of the show so far? AB
Yesterday PGL covered the surprising news that Snow will stay on at Treasury. From the news conference yesterday: “The president’s pleased that Secretary Snow agreed to continue serving as secretary of the Treasury,” McClellan said. When I heard this one of my favorite quotes immediately popped into my head: “I don’t think any of us […]