financial news: March 20,2009 - 03/20/09 10:13 AM
Federal Reserve Chairman Ben Bernake will speak today at noon EDT to discuss the financial crisis.  What can he say since he already predicted the recession will be over or at least the down turn stopped by years end.  That's seems to be as positive as anything that he'll say today.  Maybe he'll add more money to the purchase of more bonds but after Wednesday's information, how much is too much? 
Bonds dropped yesterday and are down slightly this morning on INFLATIONARY worries.  Keep printing money and sooner or later INFLATION has to become the problem.
The Fed has purchased $235B … (0 comments)

financial news: March 19,2009 - 03/19/09 10:31 AM
The Fed yesterday pledged to inject another $1 Trillion into rthe economy the try to bolster the housing market and lift the country out of the recession. This was good news to the bond market which went up     1 1/3 points after the announcement yesterday afternoon.  The prediction now is that this injection which will take place over time should hold the mortgage rates at all time lows for quite a while.  This program is also intended to spur lending for autos, education, credit cards and for business equipment.
The Government is now looking for the low, low interest rates on … (0 comments)

financial news: March 18, 2009 - 03/18/09 09:12 AM
Yesterday was a very strong day in the stock market because of the government issued statistics on housing starts in February.  Also, the government decided to go after all of Madoff's assets including the ones in his wife's name.  Good news....
Today, does not seem to be as positive.  The markets are awaiting the Federal Reserve Meetings to see about interest rates, but there doesn't seem to be any room to move,  just talk..
February Consumer Price Index Rose 0.4% seasonally adjusted.  This is the first sign inflation is right around the corner.  You can't keep spending and printing money without inflation.   BE … (0 comments)

financial news: March 17, 2009 - 03/17/09 11:50 AM
There has been some movement in "mark to the market" accounting by the Financial Accounting Standards Board.  This is an important step to get the stock market moving because it will strengthen many banks thus helping to strengthen the financial system which many economists, as well as the Fed Chairman, believe is absolutely imperitive to get any kind of sustained improvement in the economy.
Housing starts for February came in at 583,000 well above the 450,000 estimates.  Building permits also rose making February a very positive month for housing.  This is a start but it needs to be followed by more good … (0 comments)

 

Chris Gildersleeve

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