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Will Q3 Earnings Support the Stock Market Rally?
Less worse may not be good enough this time around…
The rally off the March low has been remarkable. The market plunged too far to its March low, on fears about the economy that had not been seen since the Great Depression. So a substantial rally off that low was to be expected.
Even so the rally has been unusual. A number of long-time successful money-managers have been warning since May and June that the rally was getting ahead of reality, factoring into stock prices a faster and larger economic recovery than will be experienced. Their evidence included that consumer spending,…
Anyone for a Little Chinese Stimulation?
The Chinese decided last week that they weren’t going to be outdone by anybody. If the Western world with all its governments and central Banks and World Banks and IMFs were willing to throw money at teetering businesses, then China would do the same. “Money’s no object,” rose the cry from Beijing. “Let the Yuan fly! We’ll show the Americans! Anything you can do, we…”
And so it went. The communists stole a play from the capitalists who stole a play from the communists. But when the plan was revealed, it actually proved a doozy: the Chinese were pledging relatively more…
12Nov2008 | Oxbury Research | Comments Off | ContinuedSubprime Crisis Again in the Spotlight as the Meltdowns of Fannie Mae and Freddie Mac Fuel Fears of a Deeper Downturn
We’ve been warning you since the start that the subprime crisis would have some real staying power.
Indeed, every time optimistic prognosticators have predicted an end to this global financial debacle, we’ve had the same response: Don’t you believe it.
Again just recently, after several big banks announced yet another round of major write-offs – all of them related to the subprime crisis, albeit indirectly – analysts, and even some banking-industry executives, said the write-downs were coming to an end.
Once again, we advised readers to avoid losing their heads over such heady optimism. And again, we were right.
The latest victims of the…
14Jul2008 | Money Morning | Comments Off | Continued
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