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Economic Recovery: Determining the Undeterminable
Ask five economists what the economy will do and you’re likely to get five different explanations. Unlike calculus which has right and wrong answers, economics is a combination of math, art, science, and divination. That’s why there’s so much disagreement. Where one economist’s tea leaves point up, the other economist’s pig entrails point down. Determining where we are in the cycle is just as questionable. Still, we humbly offer some thoughts for your consideration.
About a week ago, the official August unemployment report was released. According to the Bureau of Labor and Statistics (which many suggest underreports the bad news), total unemployed including “marginally…
14Sep2009 | Invest With An Edge | 0 comments | ContinuedU.S. Automakers, Freddie Mac and Foreign Exporters Next in Line for Bailout Handouts
This week is shaping up to be another active one on the bailout-and-financing front.
First and foremost, Congress returns to work this week to consider a once-unthinkable proposal: Put up billions in taxpayer-backed loans so that Detroit’s “Big Three” can be saved. Expect a fight, however, as the bailout debate finally moves past banks to focus on General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp.
The situation is dire. GM is burning through cash at a pace that could mean bankruptcy, and all three players are struggling with high costs, weak vehicle sales, frozen credit lines and dwindling cash…
17Nov2008 | Money Morning | Comments Off | Continued
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