Archive for February, 2009

  • “Well That Day of Reckoning Has Arrived”
    , February 25th, 2009 at 12:46 am

    The president lays out his plans: First, we are creating a new lending fund that represents the largest effort ever to help provide auto loans, [...]

  • Home Prices Post Biggest Drop in 21 Years
    , February 25th, 2009 at 12:42 am

    From BusinessWeek: The S&P/Case-Shiller U.S. National Home Price Index plunged 18.2% during the final quarter of 2008, the biggest annual decline in the closely watched [...]

  • Market Returns by Days of the Week
    , February 25th, 2009 at 12:06 am

    Here’s a look at market returns by days of the week. I did this last year but now I have more data including Saturdays. There [...]

  • Happy Fun Day
    , February 23rd, 2009 at 9:24 pm

    Stock-Market Crashes and Depressions by Robert J. Barro and Jose F. Ursua Long-term data for 25 countries up to 2006 reveal 195 stock-market crashes (multi-year [...]

  • Zero for 9,000
    , February 23rd, 2009 at 5:11 pm

    Mebane Faber reports that out of Morningstar’s database of 9,000 stock mutual funds, not one is up for the year. Oh, and it’s still February.

  • The S&P 500 Just Above Intra-Day Low
    , February 23rd, 2009 at 2:35 pm

    I noticed that the S&P 500 was hanging at 755, which always make me think of Hank Aaron. The index got as low as 749.69 [...]

  • The S&P 500 Just Above Intra-Day Low
    , February 23rd, 2009 at 2:35 pm

    I noticed that the S&P 500 was hanging at 755, which always make me think of Hank Aaron. The index got as low as 749.69 [...]

  • It Had to Happen Sooner or Later
    , February 23rd, 2009 at 8:16 am

    From the NYT: Nigerian Accused in Scheme to Swindle Citibank To carry out the elaborate scheme, prosecutors in New York said on Friday, the man, [...]

  • U.S. Eyes Large Stake in Citi
    , February 22nd, 2009 at 8:57 pm

    From the WSJ: Under the scenario being considered, a substantial chunk of the $45 billion in preferred shares held by the government would convert into [...]

  • Sign of the Times
    , February 20th, 2009 at 10:52 pm

    Rep. Michael Capuano to the bank executives last week: Basically you come to us today on your bicycles after buying girl scout cookies and helping [...]

  • Velkomme to Sweden
    , February 20th, 2009 at 1:32 pm

    I hate saying this, but we have to stop kidding ourselves—it’s time to nationalize our rotten banks. I’m not really pro nationalization but I’m anti [...]

  • Blast From the Past
    , February 20th, 2009 at 1:04 pm

    With the market at new lows, it’s time to recall some predictions. This is from January 2, 2008: Christian broadcaster Pat Robertson, who has made [...]

  • Paragraph of the Day
    , February 20th, 2009 at 12:57 pm

    From Arnold Kling: Starting last September, our country has gone through six months that shook the world. We have abandoned free markets. We have abandoned [...]

  • How Things Have Changed
    , February 20th, 2009 at 1:18 am

    James Surowiecki from January 6: As I showed yesterday, investors overwhelmingly supported the Paulson plan: it was only when it was killed, that stock prices [...]

  • Stocks Hate the Dollar
    , February 20th, 2009 at 12:46 am

    A strong dollar used to be good for U.S. stocks, but since the credit crisis broke, that relationship has completely reversed itself. Here are some [...]

  • New York Times Suspended Dividend.
    , February 19th, 2009 at 7:29 pm

    Not a big surprise: The publisher said in a statement today it suspended its quarterly dividend of 6 cents a share to help reduce debt, [...]

  • Dow Closes at 6-Year Low
    , February 19th, 2009 at 4:35 pm

    The Dow closed today at 7,465.95, its lowest close since October 9, 2002. The Dow is off 47% from its high of 14164.53 which came [...]

  • Irish Bank Workers Spat Upon
    , February 19th, 2009 at 4:14 pm

    I hope your day is going better than this: Irish bank workers are being spat at and threatened with physical violence by customers who are [...]

  • Santelli Calls for Tea Party
    , February 19th, 2009 at 2:00 pm

    Grab your pitchforks. We have a leader.

  • Speaketh thy Beard
    , February 18th, 2009 at 1:51 pm

    Ben at the National Press Club. Here’s an excerpt: Some observers have expressed the concern that, by expanding its balance sheet, the Federal Reserve will [...]