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A V-Shaped Recession?

James D. Hamilton| 

As James Morley has pointed out, often a sharp economic downturn is followed by an equally sharp economic recovery. One reason for that is the liquidation of inventories that accompanies any recession and restocking that... Read »

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A Tangled Policy Web

Tim Duy| 

Incoming data continues to confirm an emerging period of relative economic tranquility following the financial storm of 2008. Importantly, the bleeding in consumer spending has been staunched, despite ongoing job losses... Read »

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China’s Growth May Slow Over the Long Term

Michael Pettis| 

“China’s overall surge in credit in the first half of 2009,” an article in yesterday’s People’s Daily assures us, “is normal and healthy; however problems still exist in the structure, quality and flow of credit.... Read »

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On Grilling the Fed Chair Ben Bernanke

James D. Hamilton| 

I got a bit angry at accounts of the latest appearance of Federal Reserve Chair Ben Bernanke before the U.S. Congress. The Wall Street Journal reports: Bernanke faced open hostility from lawmakers who barraged him during... Read »

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Shifting Wealth: Is the US Dollar Empire Falling?

Helmut Reisen| 

If history is any guide, the Chinese renminbi will soon be due to overtake the US dollar, just as the dollar replaced the pound sterling last century. But will the renminbi be ready for reserve currency status? This column... Read »

Health Care: CBO on the New HELP Bill

Donald Marron|Jul 2, 2009| 

On Thursday evening, the Congressional Budget Office (CBO) released a preliminary analysis of the latest version of Title I of the Affordable Health Choices Act,... Read »

Five More Banks Seized by Regulators, Making 52 in ‘09

editor|Jul 2, 2009| 

Federal authorities closed 5 more banks on Thursday. Today’s action was somewhat unusual ; most bank failure announcements occur late Friday evening. From... Read »

Two More Banks Fail, Making 47 in ‘09

editor|Jul 2, 2009| 

John Warner Bank of Clinton, and The First State Bank of Winchester, Ill., became the 46th and 47th bank failure of 2009. From the FDIC: The John Warner Bank, Clinton,... Read »

ECB Keeps Rates Steady

editor|Jul 2, 2009| 

The European Central Bank [ECB] decided on Thursday to keep its benchmark interest rate unchanged at the record low level of 1%. ECB President Jean-Claude Trichet,... Read »

Oppenheimer (OPY): Stock Sales Buoy Investment Banks

Ockham Research|Jul 2, 2009| 

According to Oppenheimer (OPY) bank analyst Chris Kotowski, who took over when famed analyst Meredith Whitney started her own firm, companies selling stock to raise... Read »

“Hire the Unemployed”

Mark Thoma|Jul 2, 2009| 

The stimulus package had two components, new spending and tax cuts. Everybody knew that the spending component would take time to put into place, six months or more... Read »

Buffett ‘Promoted’ to Mattress Salesman

editor|Jul 2, 2009| 

This is a humorous video of Warren Buffett “promoted” from Chairman to a mattress salesman on the floor of Berkshire subsidiary Nebraska Furniture Mart.... Read »

A Bearish Jobs Report

Donald Marron|Jul 2, 2009| 

The headlines in today’s job report were gloomy: » Nonfarm payrolls fell by 467,000 in June, more than expected and more than in May. » The unemployment rate... Read »

Consumer Bankruptcy Filings Increase 36.5% Y/Y

editor|Jul 2, 2009| 

Bankruptcies resulting from household financial distress continue to increase. U.S. consumers made 675,351 bankruptcy filings in the first half, a 36.5% increase... Read »

Study of Sepracor’s (SEPR) Depression Drug Has Investors Gloomy

Ockham Research|Jul 2, 2009| 

“Big percentage move on the down side out of Sepracor. It is down about 16% in the pre-market this morning… There’s Sepracor, $14.85 big drop as a depression... Read »

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Market Latest - Real Time

  • 5:36 PM The size of the Federal Reserve’s balance sheet shrank for a second week, dropping 1 percent to $2.01 trillion, as lending to commercial banks and other corporations declined. Comment! 
  • 5:34 PM Billionaire investor Wilbur Ross and hedge fund Elliott Management Corp. are considering bids for bankrupt auto-parts maker Delphi Corp.’s assets, two people familiar with the matter said. Comment! 
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