An article in today’s Financial Times talks about the equity market’s incessant need to call a bottom and outlines the pro/con arguments. Nothing you haven’t heard before if you’ve been paying attention but after hundreds of words, the article boils it all down to one factor: the housing market. More on this topic (What's this?) [...]
Here’s another humdinger: according to Bloomberg (via BTV), Rio’s rejection of BHP Billiton’s bid has led to speculation about other mining takeovers. The news anchor then cited the rise in other “takeover speculation” mining stocks like Barrick Gold, Newmont Mining, Goldcorp, Kinross Gold as evidence of this speculation. Let’s be clear — BHP’s bid for [...]
Scott Minor (sp?), CIO of Guggenheim Partners, appeared on Bloomberg’s Final Word program today talking about interest rates. According to him, once the Fed gets the 10-year note down to 2.5%, the housing market will see buyers coming back to the table. Now I don’t disagree that 2.5% long-term rates will bring buyers back (including [...]
I’m listening to Quincy somebody or other from the Hartford (it’s not really worth knowing her name unless to ignore future musings) on Bloomberg Open Exchange. Not only is she rehashing, months too late to be any use, what we all know about the housing market (builders have too much inventory, owners can’t sell their [...]
I disagree with Paul Krugman from time to time but he presents an excellent breakdown of the credit problems stemming from the housing bubble here. In general, Krugman, despite being an economist, usually has a good grasp on reality. It probably has something to do with his political bent as politics means you have to [...]
For the (few) people who’ve been following my website and now blog for most of the year, you know I’ve been echoing the same themes again and again. But to recap quickly: 1. Peak oil is a reality. Do not be fooled by this asinine focus on weekly inventory numbers. Do not confuse production capacity [...]
