BREAKING: NOTHING MUCH HAPPENED One of the reasons I don’t post these earlier in the day is because HUGE BREAKING NEWS MUST CREDIT GUY WHO HELPED SELL IRAQ WAR stories are often later shown to be no big deal. To wit: Nothing in this story indicates anything improper whatsoever nor does it explain or justify… Continue reading Conflict update: April 3 2017
Don’t look now, but oil prices are starting to rise again. After bottoming out around $26/barrel in late-January, they’ve come back up into the $50/barrel neighborhood in recent days. There are several reasons, but they all come back to basic economics: supply is down and demand is up. The latter is relatively simple: cheap oil… Continue reading Oil price ping-pong
Finally, my life strategy of being too poor to have any investments is paying off. What’s the problem? Well, lots of things, apparently: Weak U.S. economic data has not helped matters today. December retail sales dipped 0.1% in December. Manufacturing in the New York region came in much weaker-than-expected in January and industrial production for… Continue reading Riding the roller coaster
Since Saturday we’ve been in the midst of the 86th anniversary of the stock market crash that kicked off the Great Depression. The whole thing started on October 24, 1929, AKA “Black Thursday,” when the Dow lost about 11 percent of its overall value shortly after trading began, and only some concerted action by a… Continue reading Today in history: the Great Crash of ’29 ends and the Great Depression begins
The Dow Jones Industrial Average dropped about a thousand points in the first five minutes of trading today. It’s recovered substantially at this point (about 10:45 east coast time) and is down around 650 points for the day so far. The S&P 500 is down almost 50 points and the NASDAQ is down about 115… Continue reading Gluttons for punishment
I kind of dropped the Greece bailout story a couple of weeks ago, because to be perfectly honest I think I can only deal with one major global agreement at a time around this place. But as we got right up to the brink of a Grexit, it turned out that, well, nobody, least of… Continue reading A funny thing happened on the way to Grexit
Usually when major events reach the level of media-driven frenzy that they get their own names, we slap together something so silly that it can actually take away from the seriousness of the situation. Here in the US, ever since the Watergate Scandal, we like to slap the suffix “-gate” onto major political scandals for… Continue reading Grexit: is the prescription worth the side effects?