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Thursday July 31
2Q03 GDP: +2.4% Bloomberg BEA Release
U.S. Initial Jobless Claims Fell by 3,000 to 388,000 Last Week Bloomberg
The Fed is in a dangerous game with China FT
China is a silent but active partner in the Fed's pump-priming...
China under more pressure to revalue the yuan Japan Times
Asia Debt: Three Gorges Offers China's Longest Corp Bond DJ
Cracks of light have appeared in 2003 for non-state companies eager to tap China's debt markets...
Treasury Gives Specifics of Record Borrowing Plan WP (Berry)
Feels like the summer of '87 CBSM Bond Massacre! SH This is no Drill 321
The sell-off in the bond market is reaching epic proportions...The last time we have seen a rise in yields this far, this fast, was in May 1987...
Horse Shoes and Hand Grenades Safe Haven
Commodity Costs Soar, but Factories Don't Bustle NY Times (R)
Since the overall number of payroll jobs peaked in February 2001, 90 percent of the 2.6 million jobs lost have been in manufacturing.
The Nature of Interest Rates & Why it’s Dangerous To Manipulate Them BN
Intel CEO says computer spending will remain little changed this year Bloom
Intel Celeron price cuts revealed Register AMD drops prices Cnet Powerchip
Fannie Mae chief lambastes rival AP
Bundesbank Has No Plans to Sell U.S. Agency Bonds Bloomberg
The Mouse Roaring at Fannie and Freddie Business Week
There's a new kid on the block, and the big boys don't like it one bit...
Mortgage boom spurs complaints Contra (WSJ)
The growing gap between rich and poor Socialist Worker Online
Workers' comp costs could soar Contra Costa Analyst sees flaw in state budget
California employers can expect to be jolted by yet another big jump in the cost of a workers' compensation system that is near collapse
Pillowtex goes bust, cuts 5,500 N.C. jobs NewsObserver
5 plants closing in largest single job loss in state's history
Thomson layoffs early for many Chronicle-Tribune
The demand for 25- and 27-inch television picture tubes made at Thomson's Marion base plant is so low that workers would have nothing to do if they came into work
Sunbeam to lay off 265, end production at plant Hattiesburg American
Lord & Taylor To Fire 3,700 NYP May to close 34 stores to trim costs AP
Vivendi misses Reuters Exxon beats - NEM 2Q03 Net Income $90.8 Million
Newell Rubbermaid's Q3, 2003 earns to miss forecasts CBSM
Accounting woes halt Impath stock trading USA Today
Lancer Booked Loans That Hollywood Firms Never Got NY Post
NYSE Fines Fleet Trader $175K Total NYP Monthly Disciplinary Report NYSE
An Ode To Wall Street’s Odor and Those Making it Stink NYP
June data show investors still adding to stock funds Reuters ICI Release
US Fares Poorly at WTO Washington Times
Futures-trading snafus raise issues about market efficiency MSNBC
Trading glitches are a fact of life on Wall Street.
Buffett wins battle for Clayton Homes FT
IT Spending a Dud, Says Study CFO
Major banks pin losses on stockholding declines Japan Times
Japan Sells Record Amount of Yen to Protect Exporters Bloomberg
Consumers 'complacent' over debt levels Independent
Executive under fire as Scots growth shrinks Scotsman
Russia Business Week Growing unease in Russia IHT (NYT)
Five years after the great ruble crash, the economy is booming. But how much is Russia really changing?
Challenges ahead for India's IT boom Asia Times
Zimbabwe tackles cash crunch BBC
...long queues outside banks and the widespread hoarding of cash
Argentina May Postpone Bondholder Offer on IMF Delay Bloomberg
IMF plans hardball for Argentina. . . FT The bosses quit, the workers didn't
Our pension mess could be worse Globe & Mail
If Canadian companies are looking for a reason to feel superior these days, they can always comfort themselves with the knowledge that the Canadian pension plan mess could be worse. It could be the U.S. pension plan mess.
Ex-Scotia broker banned, fined Globe & Mail
Directors' gains stir revolt by investors Guardian
ICI to cut 1,400 more jobs FT Siemens cuts 2,300 jobs BBC 2000
Big Three losing more money on each vehicle sold due to incentives: study CP
World's trigger-happy population keeps growing Asia Times
Forget Reissuing Dinars; Let Iraqis Use Dollars Bloomberg
Fed’s Beige Book FED Beige Book optimism unconvincing UPI
Wednesday July 30
Is the US economy being hollowed out? BrookesNews
Bang! Refinance boom is dead InMan
The Mortgage Bankers Association of America forecasts that mortgage production volume will reach a record $3.39 trillion this year, then plunge to $1.9 trillion next year.
Higher Rates Erode Demand for Mortgages Reuters
For GM, Mortgages Are the Motor Business Week
BOSAP, PPS, and the Productivity Scam Morgan Stanley (Roach)
Snow Says U.S. Will Encourage China to Widen Currency Range NYT (R)
IMF report cites errors in handling of 3 crises IHT (Bloom)
The International Monetary Fund failed to gauge the seriousness of three of the worst capital account crises to erupt in recent years, and made errors in handling the resulting economic spirals in Indonesia, South Korea and Brazil
Impediments to Monetary & Fiscal Policy Comstock
NASDAQ Rocket: 2003's Greatest Attraction 321Gold
Bond yields hit one-year high Reuters
Drop in Treasury prices could have wide repercussions for mortgage rates and the economy.
Tech jobs moving offshore Reuters
Gartner survey says 1 out of 10 tech jobs may be moved overseas as companies opt for cheaper labor.
Pay Raises Getting Smaller AP
Lodging industry hurting Boston Globe
Merrill's No. 2 Executive Makes Abrupt Departure Reuters
Escape and Fantasy Russell
EWI's Market Watch: Whose Fear Are They Denying -- Yours or THEIRS? EWI
Investors turn wary of new Freddie Mac chief Reuters
Pier 1 Warns TheStreet Tyco - S&P cuts debt ratings of Schering, Bristol
Goodyear Posts Loss - Reader's Digest: Loss, Cuts - Toshiba's shares plunge
Is Black-Scholes the Right Option for Options? Bloomberg
Soaring debt fuels fear of consumer crisis Times Online
Britons rack up record debts BBC
Japan's June Industrial Production Unexpectedly Falls 1.2 Percent Bloomberg
Malaysia’s first Gold Dinar available to public next week TheStar
More companies face dividend dilemma Times Online
Trade deficit soars as exports fall The Age
Foreign 'crises' show limits of US power CS Monitor
Tuesday July 29
Commentary: Can Cars & Homes Drive The Economic Recovery Alone? NBR
Pentagon Terror Futures Market Scrapped Reuters Hijackings Feared
U.S. July Consumer Confidence Index Falls to 76.6 From 83.5 Bloom
C, JPM agree to pay $255 million over Enron loans CBSM SEC
Banks 'were aware of Enron's sham deals' FT
Latest Enron autopsy implicates Wall Street FT
In monetary terms, the report suggests the banks could have to cough up more to fend off private lawsuits than the $300m that Citi and JP Morgan agreed to pay regulators. Six banks knew...
Enron Used World Bank to Avoid Taxes, Get Guatemalan Contract Bloomberg
Barclays Denies Cheating Enron Investors Reuters
The Quality of Economic Recovery Morgan Stanley (Roach)
The Terrible Cost of Government Ron Paul
Are Americans too far underwater? CNN/Money
Many economists worry Greenspan is painting too rosy a picture of consumer balance sheets -- and, by several measures, they seem to have a point.
The Bear's Lair: Second quarter blues UPI
Why You Shouldn’t Beleive The New Jobless Stats NYP (Crudele)
U.S. Forecasts Net Borrowing of $104 Billion for 3rd Quarter Bloomberg
Chain Store Sales Dip, Break 3-Week Run Reuters
Banks get housed CNN/Money
The big buys banks made in mortgages are coming back to haunt them.
Day traders make a comeback USA Today
Mutual funds must cease abusive practices, reformers say CBSM
To Vanguard founder John Bogle, the mutual-fund industry faces a period of reckoning that goes beyond the reform efforts under way in Congress
Californian dreaming brings bankruptcy BBC
California Bond Prices Reflect State's Turmoil NYT (R)
BMC to cut jobs on back of loss FT
Barrick Gold Corp. reports flat second-quarter profits CP
White-collar jobs moving abroad CS Monitor
Cerberus Capital Decides Against Competing With Buffett Bloomberg
Lehman Brothers' top executives have been dumping stock NYP
The Earnings Game and Other Bull Markets (The Silver Streak) Financial Sense
Silver finally in the bullion rally CBS MarketWatch (Calandra)
India’s Consuming Interest in Silver Scotia Mocatta PDF
Is Gold Staging Comeback as a ‘Save Haven’ Investment? Arab News
Retirement blues Economist CBI
As fears grow that America’s pensions rescue fund may itself need rescuing, Britain’s main business organisation predicts that pension-fund deficits will damage economic growth for several years
Pension costs rock firms BBC
Money-supply growth slows in euro zone IHT (Bloom, AP)
Outsourcing: Make Way for China Business Week
Moody's Mulls Rating Upgrade on Russia Reuters Ruble Gains on Dollar
Dr Doom says it's boomtime here IndiaTimes
Japan to raise tariffs on beef and pork imports FT
Earnings behind inflation, StatsCan says CP
Monday July 28
Don't Take Our Word For It Cross Currents
The Street still plays games with investors MSN (Fleck)
Investors still want desperately to believe
The Fed chairman made a mess IHT (NYT) (Krugman)
Let’s not forget that back in 2001, Greenspan lent crucial political aid to the first Bush tax cut, arguing that such a cut was necessary to prevent, yes, excessive budget surpluses and too rapid a payoff of the federal government’s debt. He should have known better...
US buying bubble could burst the world economy Mail & Guardian
Keynesian Journalist Gets it Wrong BrookesNews
Perspectives on Long-Term Budget Deficits The Brookings Institute
GPI offers useful counterpoint to GDP SF Chronicle
'Rebalancing' of the US economy still has a long way to go Independent
Cuts in interest rates and taxes have kept the show on the road, but can only defer the inevitable correction
Turned on and on by stocks FT
During the six weeks following the October 1987 crash 44 per cent of the calls to US-based "1-800 GAMBLER" helpline were from traders.
Fear gauge falls USA Today
Investors are getting downright cocky about the ongoing rally on Wall Street.
Budget Deficits Force Record Government Borrowing Bloomberg
“Long-term deficits do affect long-term interest rates” Sir Alan
Budget Crises in States Slow an Economic Recovery NYT (R)
Over the past two years, the states have gradually cut between $20 billion and $40 billion -- no one knows exactly how much -- from their spending. Billions more in cutbacks are coming in the fiscal year that started July 1.
Growing danger to pension plans has government officials worried AZC (NYT)
California Senate Passes $70.8 Billion Budget Plan Bloomberg
States Face Growing Prison Population AP
Homeowners struggle with oversized loans Dallas Morning News
For many, the dream of homeownership is turning into a nightmare
Real Estate Bubble Theory Shows More Evidence Bloomberg
How high is too high? T-Star Amazon: The Coming Crash in the Housing Market
ECB Recommends Central Banks Sell U.S. Agency Debt, Person Says B
The ECB is eliminating its holdings of debt issued by Freddie Mac and Fannie Mae, and recommended that its national central banks do the same...
At Freddie Mac, It's Hard To Lay Claim to Innocence WP
FTI Digs Out The Numbers That Tell the Troubled Tale (Freddie) WP 11,000
Volatile real estate funds no safe haven AP
Study: Consumers waste money WSJ
Xerox Quarterly Net Profit Slips Reuters
CNBC Disclosure Stirs Ethics Debate in Business Media NYT (R)
Did Maria Bartiromo operate within the bounds of business journalism ethics when she disclosed in an interview with Citigroup's CEO that she owned 1,000 shares in the company?
Grasso Grumble NYP NYSE Threatens Sanctions Against LaBranche Street
A floor director who attended the meeting with Grasso said the NYSE was lucky Grasso hadn't left to become Treasury Secretary... "The arrogance was unbelievable," said one person present.
There's No Way to Justify These Fees NY Times (R) (Morgenson)
An Xtra Connection NYP
An Insider’s Guide To Living in Prison NYP
WorldCom Confirms Subpoena on MCI Fees Reuters
OPEC sees little risk from Iraq as sabotage saps oil production AP
Why oil prices will stay high for five years AME Info
We are now told that a return to full pre-war production levels is likely by the end of the year, presumably by the same people who thought we would be back to full production by now just a few months ago.
Prechter: Is he visionary, or is he a lunatic? WorldNetDaily
UK firms 'must add £36bn to pension costs' Times Online
Pension system in crisis, 2000, 2001 data show Japan Times
A new Red Menace imperils trade, jobs Boston Globe
Chinese currency system must face step-by-step liberalization Japan Times
Beware: economic spin doctors at work Sydney Morning Herald
Investors dump R.P. holdings after mutiny Reuters/ABN-CBN
Weekend Edition (July 26-27)
Asset and Debt Deflation in the United States Levy PDF
How Far Can Equity Prices Fall?
The Fed Abandons Bold Reflationary Measures AEI (Makin)
Struggling Team Greenspan/Bernanke Prudent Bear (Noland)
Greenscam: The View From Europe Frontline
The Amazing Disappearing Tax Revenue WP
Bond market cooling optimism in U.S. Montreal Gazette
S&P 500 Futures CoT Safe Haven
Green shoots FT
The bulls tend to value the market on the basis of the "operating" earnings for the S&P 500...
Analysts wary as US figures hint at upturn FT
Will the US economy soar or belly-flop? FT
Broaddus: No 'hard evidence' of U.S. recovery CBS MarketWatch
BIS consolidated banking statistics for the first quarter of 2003 BIS
Deep in Debt, N.J. Family Robs Bank WP
Japan still trapped in deflation Bangkok Post
Hostage to an economy teetering on a knife edge Observer
Friday July 25
U.S. June Durable Goods Orders Rise 2.1% Bloomberg
Long Live the Output Gap Morgan Stanley (Roach)
How much longer can the USA propel the global economy? USA Today
Irrational exuberance revisited Economist
Recent rises in stockmarkets are not justified by the economic evidence
Yes, You Can Time The Market Forbes
Bye-Bye, Bargain Refi USA Today Mortgages up for 5th straight week Reuters
Price paradox Pioneer Press
The battered Japanese economy has been dragged further downward by deflation -- and the same thing could happen in the United States.
Japan's bout of deflation moved into its 45th month in June Reuters
Dropping the Bonds NY Times (R) (Krugman)
I used to be a great admirer of Mr. Greenspan. But something has gone very wrong with the maestro.
What Bonds Are Saying Business Week End of the low-rate era? Jubak
The spike in rates could be just the beginning of trouble for the bond market if inflation fears erupt
Interest rates are as low as can be. So why isn't it working? Independent
California's debt 'nearly junk' BBC
“This is a very sad day for the state of California”
The Scary World Of Commercial Real Estate WP
More than 955,000 have lost jobs in mass layoffs this year KC Star BLS
Undermining American workers LA Times
Record numbers of illegal immigrants are pulling wages down for the poor and pushing taxes higher.
U.S. stock funds attracted estimated $20.5 billion in June CBSM PDF
Janus investors pull out despite rally RockyMN Outflows at Putnam
Worries Arise About Freddie's New CEO WP
AT&T Corp. posts profit, cuts 2,900 more jobs Reuters
The tragic kingdom (Disney) Economist
Hungrgy IBM Trying To Land Customers NY Post
Making it easier for its corporate customers to defer payments on big purchases.
Gateway posts wider second-quarter loss FT Microsoft ups the R&D ante
Goldman Sachs to cut costs by moving abroad Independent
Bill to Limit State Probes Of Wall St. Delayed WP
Regulators turn their attention to the selling of mutual funds Economist
Lawyers scream about ice cream Washington Times
Feds: Former 3M Manager Embezzled $1.6M Channel 4000
SEC accuses two of Ponzi scheme RMN SEC raised flags over First Data
How Deep Is The Ethics Crisis? Forbes
Hoover and the Stability Pact Taipei Times (DeLong)
Europe's aversion to deficit spending in a recession is reminiscent of Herbert Hoover's -- and that brought on the Great Depression
Soaring sales fan fears over household debt Times Online
Unraveling of Germany Inc. gains speed F.A.Z. Pension Problems
China won't change currency policy Financial Post
Chinese officials hedging their bets over adjusting yuan AFP
China's Yuan Fixed-Rate Policy Stirs More Outrage Bloomberg
Cash dries up amid pension plan fears Japan Times
Defiant Japan to raise beef tariff to 50% Japan Times
Suicides over tough economic times hit all-time high in Japan Globe & Mail
Suicides caused by distress over economic difficulties rose 16 per cent to 7,940
BOJ's Muto cites side effects of JGB buying Reuters
The BOJ currently buys 1.2 trillion yen ($10 billion) of long-term Japanese government bonds every month as part of its "quantitative easing" policy
Russian roulette Economist
A turning point for emerging-market bonds
Volkswagen Profit Falls; ‘Significant' 2003 Drop Seen Bloomberg
What's in a name? $1.3bn at Reuters Times Online
Travel plunge the worst ever, Fairmont says Toronto Star
Great Depression protesters wanted work Vancouver Sun
N. Korea Reportedly Preparing to Declare Itself a Nuclear Power CNS Original
Thursday July 24
At the Top of the Heap, eBay Still Must Look Down TheStreet
DaimlerChrysler Q2 Profit Tumbles - Energy Costs Hurt International Paper R
U.S. Initial Jobless Claims Fell by 29,000 to 386,000 Last Week Bloom
The Dean of Deflation's Damage Control Business Week
The Fed governor was obviously sensitive to the sizable spike in Treasury yields in the last week, which appears counter to the Fed's interests of keeping long-term rates down at the moment.
Speech: An Unwelcome Fall in Inflation? Bernanke
Gold tops $360 after Fed 'zero rates' talk R
The Doubting Generation Russell
Refinance and die UPI
Are economists dull? No, just listen to this.
Beware another stock market bubble AJC
Is it conceivable that investors are headed for another bubble bath so soon after the stock market collapsed?
This stock rally just doesn't seem right Business Times
The bull market in bonds is dead and the cult of the equity is back...
U.S. pension agency put on risk list Reuters
Plans that promise a specific payout at retirement are already $300 billion underfunded and the PBGC is running a $5.4 billion deficit
Bond blowup puts U.S. stock investors on guard Reuters
Deflating the pundits CBS MarketWatch
States deem some tax hikes 'necessary and important' S States Cut Spending
Lessons learned about investing Business Journal
Lancer’s Casualties NY Post
AOL Subscribers Down by 846,000 Washington Post
China: The world's next superpower Taipei Times
Wednesday July 23
Bernanke Says Fed Could Cut Rates Further Reuters
U.S. dollar falls 1 pct vs Canadian dollar Reuters
Dollar Drops INO Gold & Silver Break Higher Kitco
Cuban Central Bank Rules Against US Dollar Transactions VOA
Freddie Mac Deliberately Fudged Numbers Reuters
Boeing Posts a Loss, Cuts 2004 Forecasts Reuters
Losing Control Morgan Stanley (Roach)
The current rout in the US bond market is starting to reach epic proportions.
Federal Reserve Inflation Punishes Saving Ron Paul
The Fed takes a dangerous stance FT
Greenspan Criticised 'Deficit Spending' and the $ Policy Safe Haven
Earnings Management Game Continues On Wall Street CTNow (WSJ)
Some Rust Under the Hood of Industrials' Recovery TheStreet
Among S&P 500 companies, currency gains accounted for an estimated 2% to 4% of first-quarter earnings and revenue growth and are expected to account for about 2% of second-quarter earnings and revenue growth
You are all too optimistic Gold-Eagle (Harris)
I've been reading the hundreds of articles spewed forth from Bill Bonner, Dr Kurt Richebacher, David Tice, Mogambo and all the folks at gold-eagle to the Austrian economist down in Alabama at the Ludwig von Mises Institute. I'm becoming convinced that all these folks are hopeless optimists.
The Bear's Lair: Lyndon Baines Bush UPI
History will judge... Chaos-onomics
US corporate majors plan to move 30 lakh jobs overseas B-Line Forrester R
Under increasing pressure to cut costs and build global networks, US corporate giants are planning to move about 3.3 million jobs, including highly-paid white-collar ones, to countries including India by 2015.
IBM planning overseas job move? Chicago Sun Times
Mortgage Applications Fall Reuters MBAA
ABC/Money weekly consumer confidence flat Reuters
Freddie Mac: 'This is a painful day' Reuters
Internal report shows problems with accounting, controls, disclosure and former management.
Companies' HMO premiums jump 16% in '02 Detroit News
What message is California sending to companies? Get lost! Fortune
Kodak's 2nd-Qtr Net Income Falls; Jobs Cuts Planned Bloomberg
Kodak cut its profit forecast for the rest of the year and said it will eliminate as many as 6,000 jobs as its consumer-film business shrinks.
Siebel Systems to cut work force 9% AP PeopleSoft denies layoff rumors - 180
Snap-on to eliminate 290 jobs in Kenosha JS Online
Lucent workers feel future teetering Daily Herald
Lucent Posts 13th Straight Quarterly Loss Reuters AMZN - GSK - SGP - LLL
AOL Profit Up; SEC Disputes Accounting Reuters UPS/Colgate/Radio Shack
Amgen Jacks Up Outlook Dow Jones Ameritrade Raises Guidance - BSX
Sun Micro Can't Get Its Two Cents In TheStreet Broadcom Can't Satisfy Bulls
Host Marriott reports quarterly loss Reuters Millennium lowers its '03 forecast
The downturn in travel failed to show any sign of ending.
Kelly Services sees earnings decline 62% Bloomberg
Public is Losing Its Taste For Martha Stewart, New Poll Says NYP
Time for Apple to Rethink Its Options Business Week
Long-Term Capital Case Puts Tax Shelters on Trial WP
States' Role In Doubt on Wall Street WP
House to Vote Soon on Bill to Affirm Ultimate Power of SEC
Senators take issue with WorldCom contract WT
Prison term begins today for Waksal AP
Abbott to plead guilty, pay more than $600 million in fines AP
TC PipeLines, LP Raises Quarterly Distribution to $0.55 per unit Wish List
Warren Buffett buys EWM Realtors Miami Herald
Dissing dividends CNN/Money
Investors say they like dividends, but they don't act like it
Depression Lowers Productivity Psychology Today
Economists See Euro At $1.50 As US Trade Deficit Adjusts DJ
Company profits 'flattered by assumptions on returns' Times Online
Argentina's Kirchner Seeks Bush's Help on IMF Loan in U.S. Trip Bloomberg
Public debt arbitrage opportunities cause parallel US$ exchange rate recession
French Government's Asset Sales May Be Difficult Bloomberg
Pension fund laws: onerous, costly, unnecessary Financial Post
Canada's Dodge Says Slow Growth May Prompt Rate Cut Bloom
Chaos spurs Iraq small business CSM U.S. to Set Up Iraq Bank
Saddam's Sons Confirmed Dead, Stocks Rise Fortune
The market apparently went up today because Hussein's two sons Uday and Qusay were killed in a firefight in Iraq. That is the world in which we live, folks.
Saddam's Sons Report Spurs Dollar's Rally Reuters (WP)
U.S. approves $1.6 bln Iraq oil recovery plan Reuters
Tuesday July 22
Too Much Bull For Comfort... Gold-Eagle
Rebalancing Delayed Morgan Stanley (Roach)
In the end, I worry that a dysfunctional world has opted for a strategy aimed mainly at buying time...
US home loan debt issue falls FT
Cheap money takes its toll on business FT
It's Bond; Falling Bond Daily Standard
It's summer, the economy is rejuvenating, and bond traders are learning to hate Alan Greenspan
Soaring bond rates harm stocks, some fear USAT
Old Dogs, Old Tricks Rockwell (North)
Investors are their own worst enemy CBSM
Nobel laureate says optimism sabotages performance
Deja Vu: Tech Titans Take Money and Run (Again) NY Post
Profit-hungry refugees of the old tech bubble are cashing out in droves from the current Nasdaq rally.
What's the Story Between the Lines at Fannie Mae? NY Times (R)
Some institutional investors and analysts say that Fannie Mae has had billions of dollars of losses the last two years that have been obscured by the complexity of its accounting.
Goodwill to All Pieces CFO
Are companies properly valuing and assigning acquired intangibles to business units?
Back-to-School Sales Are Thin NY Times (R)
Survey: Rich not getting richer CNN
Report: California housing markets cooling Sacramento Business Journal
Ethical' funds: Payoff in doubt IHT
Lehman Cash Woes NY Post
Lehman Brothers' carefree use of restricted stock has come back to haunt the Wall Street giant, costing the company virtually all of its 2002 cash flow
Martha Stewart's lawyers upset about leaks AP Harlan Waksal resigns
Simon & Schuster to cut titles, ax 5% of staff NYP
Harrah's Profit Slides Amid Travel Slump Reuters
IBM execs look to move jobs overseas CNN
NYSE Short Interest Declines NYSE
How Long Can the Consumer Carry the Economy? Levy (PDF) Sustainable?
World bonds down sharply after U.S sell off Reuters
Internet investors go all the way to China for latest boom USAT
Just this year, Chinese portals Sohu.com, Chinadotcom, Sina and NetEase.com are up 539%, 374%, 346% and 239%, respectively -- making Yahoo's 83% rise and eBay's 62% gain look puny in comparison
Yen Weakens Against Dollar on Traders' Concern BOJ May Sell Bloomberg
Japan brokerages to show Q1 profit after 02/03 hell Reuters
Japan will issue more super-long bonds CBSM
Number of unsold homes at 34-month high Guardian
Wealthy Canadians' assets decline 11.7% CP
Monday July 21
Lexmark Warns on Profit, Shares Tumble Reuters
They're trying to talk us into recovery Telegraph
American deficit dependency: kill or cure, the fallout's global Guardian
How big is record deficit, and does it really matter? NYT & KR
Greenspan's Bond Bubble Has Popped; Time to Move On Bloom
America’s Bond bubble: slow leak or big bang? Times Online Bondage OP
What the Fed really wants: more inflation MSN (Fleck)
Suddenly, Greenspan Is, Well, Mortal NY Times (R) (Morgenson)
Sanitizing The Grim News CBPP
The Administration's Efforts to Make Harmful Deficits Appear Benign
The 1968 and the ‘90s Boom BrookesNews
The extent to which media commentators are ignorant of economic history, let alone basic economics, is genuinely staggering.
Kindleberger: He wrote the book on financial ups, downs SunSpot
At 90, investment titan Templeton still going strong Toronto Star
While recent market rises have offered some hope for bear-bashed investors, Templeton isn't buying into it.
New Reality Is Leaving Growth in the Mire NY Times (R)
Export of tech jobs could imperil U.S. programmers AP
More workers struggle to save for retirement AP
Despite cuts, 401(k)s are still matchless Baltimore Sun
US yet to reap benefits of Bush tax cuts Times Online
Figures Don't Lie MotherJones
By the numbers alone, the Bush administration's economic policy has been a disaster. And the middle class and poor are paying for the failure.
This is the house... Boston Globe
. . . that grew from the work, that was driven by rate cuts, that led to more jobs, that kept the economy upright
Investors Less Prone to Buy U.S. Debt for 5th Week, Survey Says Bloomberg
Balance Sheet Shuffle Proves Costly TheStreet
Fin 46 will force U.S. businesses to take millions of dollars in charges in the third quarter...
Lancer’s Magic Movie NYP
Brokerage firm goes door-to-door Knight Ridder
Durban Roodepoort Deep Mulls Massive Closure Mineweb
3M Earnings Up - WMT Sales at High End - Kodak To buy PRWK - HAS - MRK
ArvinMeritor Sees Additional Job Cuts Reuters
Rivals are ready to take bite out of Apple in online music business this fall R
RIAA nails 1,000 music-lovers in 'new Prohibition' jihad Register
Hulk Not A Hit NY Daily News
Greenspan, Dodge: maestros? Financial Post
Recovery in jeopardy, warns BCC Guardian
Brown: 'We are close to the waterfall' Times Online
ECB's Welteke Sees No Reason to Cut Rates at Moment Bloomberg
House price rises 'still slowing' BBC
Rates seen at low unless house market crashes Reuters
Pound Knocked by Political Woes Reuters
Commentary: How China Turns Entrepreneurs into Outlaws BW
U.S. still leads in technology, but China picking up speed Seattle Times
World Bank: India May Face Medium-Term Fiscal Crisis Dow Jones
Long-term chant goes up West Australian
Discontent hits Russia and Nigeria FT
Prudential poised to cut dividend for first time since 1914 Scotsman
UK's Logica to outsource 1,500 jobs to India the inquirer
Unions panic as UK call-centre jobs go to Indians Gulf Daily
VW Revamps Brazil Ops, 4,000 Jobs to Go Reuters
Greenspan falls victim to his own rate cuts AP
Weekend Edition (July 19-20)
Long Way to Go Before Capacity Constraints Cause Bottlenecks Northern Trust
Which bubble is likely to burst next? Guardian
In effect, investors have mispriced equity risk - only this time it is reflected in company debt, rather than in share prices.
Fast cash blows bubbles in the financial air Reuters
High rollers gamble on risky areas Globe & Mail
House Panel Acts on Pension Calculations NYT (R)
If enacted, the bill would allow companies to use a more favorable pension calculation that would save them from having to make tens of billions of dollars in pension contributions over the next three years
Pension rules should be overhauled Charlotte Observer
Inadequate funding could lead to costly government bailouts
Amazing Times Prudent Bear
The NASDAQ Echo Bubble Zeal
The Most Unlikely Action Frontline
All About Greenspan Gold-Eagle (Harris)
Popular delusions of the monetary kind Speculative Investor
Making the busted bond game work CBSM (Calandra)
SEC probes Activision, Acclaim, THQ CBS MarketWatch
Wallop in NY Investor Cases Echoes for 1,000 Miles Bloomberg
States Back Spitzer NYP
Calpers, Calstrs Sue AOL TW for Fraud Reuters
Ford May Cut Up to 2,000 Salaried Jobs Reuters
GM mortgages more profitable than car sales FT
General Motors earned three times as much from selling mortgages as from cars in the second quarter...
Chicago Stock Exchange president. COO downsized Reuters
List of Freddie Mac Lobbyist Fund-Raisers WP
U.S. official backs Japan on the yen IHT
Numbers move against Chancellor's public spending gamble Independent
Canada's hidden debt Financial Post Dodge cuts economic forecasts
Funds miss their target again The Age
Triple Suicide Forces Japanese To Face Menace Of Loan Sharks WP
Zimbabwe grapples with record inflation AFP
Pentagon retaliates against GIs who spoke out on TV
U.S. struggling to find replacement troops
$387 billion for defense excludes the cost of war
Just How Big Is $455 Billion? Newshouse
Weekend Edition (July 19-20)
Long Way to Go Before Capacity Constraints Cause Bottlenecks Northern Trust
Which bubble is likely to burst next? Guardian
In effect, investors have mispriced equity risk - only this time it is reflected in company debt, rather than in share prices.
Fast cash blows bubbles in the financial air Reuters
High rollers gamble on risky areas Globe & Mail
House Panel Acts on Pension Calculations NYT (R)
If enacted, the bill would allow companies to use a more favorable pension calculation that would save them from having to make tens of billions of dollars in pension contributions over the next three years
Pension rules should be overhauled Charlotte Observer
Inadequate funding could lead to costly government bailouts
Amazing Times Prudent Bear
The NASDAQ Echo Bubble Zeal
The Most Unlikely Action Frontline
All About Greenspan Gold-Eagle (Harris)
Popular delusions of the monetary kind Speculative Investor
Making the busted bond game work CBSM (Calandra)
SEC probes Activision, Acclaim, THQ CBS MarketWatch
Wallop in NY Investor Cases Echoes for 1,000 Miles Bloomberg
States Back Spitzer NYP
Calpers, Calstrs Sue AOL TW for Fraud Reuters
Ford May Cut Up to 2,000 Salaried Jobs Reuters
GM mortgages more profitable than car sales FT
General Motors earned three times as much from selling mortgages as from cars in the second quarter...
Chicago Stock Exchange president. COO downsized Reuters
List of Freddie Mac Lobbyist Fund-Raisers WP
U.S. official backs Japan on the yen IHT
Numbers move against Chancellor's public spending gamble Independent
Canada's hidden debt Financial Post Dodge cuts economic forecasts
Funds miss their target again The Age
Triple Suicide Forces Japanese To Face Menace Of Loan Sharks WP
Zimbabwe grapples with record inflation AFP
Pentagon retaliates against GIs who spoke out on TV
U.S. struggling to find replacement troops
$387 billion for defense excludes the cost of war
Just How Big Is $455 Billion? Newshouse
Friday July 18
U.S. July UMich sentiment up to 90.3, below consensus CBS
U.S. Treasuries Head for Worst Week in 4 Months on Greenspan Bloomberg
The Fed Needs the Bond Market's Faith Business Week
A communication breakdown between Greenspan & Co. and investors has turned the staid bond market into a maddening mess
He's Forever Blowing Bubbles Rockwell (North)
How's Business? Morgan Stanley (Roach)
The Economy: Place Your Bets Daily Reckoning
Wondering where all the Fed's newly created money has gone?
Can non-banks create money? BrookesNews
Greenspan's words won't solve twin deficits CBS MarketWatch
Russell celebrates by selling bonds CBS MarketWatch
“The U.S. is heading for maybe the greatest financial mess in world history”
Of manias, panics and crashes Economist
The work of Charles Kindleberger, who died on July 7th, has never been more pertinent
Idea of again issuing 30-year T-bonds gains favor USA Today
Interest-rate surge means trouble for mortgages, bond funds Star Tribune
The deflation theory has been deflated
Recession declared over but tell that to the unemployed KC Star
Tech's Floor Increasingly Shaky TheStreet
Freddie Regulator Faults Managers, Counsel Reuters Hearing on Monday
Execs oppose more pension rules CNN/Money
A group representing senior execs is lobbying against FASB's new pension disclosure plan.
Next Big U.S. Accounting Scandals Have Started Bloomberg
Watch out for the next big U.S. accounting scandals in non-profit, government and quasi-government businesses and organizations
Will Congress Let Accounting Fiction Obscure Pension Reality? NYT (R)
SEC Has Opened Probe of AMEX NY Post
Tenet Hospital in San Diego Indicted Over Kickbacks Bloom
Ghosting IndyStar
An illegal manipulation of the stock market that is hard to prove...
Cisco announces serious flaw in its networking software AP
Three big airlines struggle to a profit Toronto Star
Banks feel margin squeeze Seattle Times
After booming during the economic bust, banks finally appear to be heading for their share of hard times.
Enron hit with 'bill' for Jersey donations Star-Ledger
Soros Drop$ More into E-tailer Blue-Fly NYP
Foreign banks face Japanese tax probe FT
Living in exciting times as China mulls currency realignment Independent
Darkness falls on Tokyo Economist
Moscow tells rich Russians: Don't worry IHT (NYT)
Politicians outraged by IMF criticism of state banks F.A.Z.
The preliminary snapshot of an IMF report on the German banking system has met with political outrage this week.
No market upturn for German giants F.A.Z. Mirant Hits German Banks
Swiss Life shuts up shop in UK with loss of 200 jobs Independent
Moody's rerating to hit C&W shares Times Online
SECP unearths 39 phoney brokerage firms Jang
Thursday July 17
Microsoft misses earnings expectation CBS MarketWatch
Initial Jobless Claims Drop, but still stuck above 400K Bloomberg
Philadelphia Fed shows manufacturing activity improving FED
Why You Should Care About The Bond Market Meltdown NYP (Crudele)
Buying bonds suddenly looks like a bad bet if the United States is a driverless car headed down a steep incline.
Government deficits must be paid for in the end - with higher interest rates Inde
Washington's debt addicts CBS MarketWatch
It's easy to see how Washington's free-spending habits are going to undermine the strategies of U.S. investors.
Alarms from Uncle Sam's Auditer Business Week
David Walker, head of the U.S. General Accounting Office, assails the White House and Congress for spending with no heed for the future
The impact of a historic deficit CS Monitor
Deficits will weigh heavy on future, economists warn Denver Post
How to Balance a $43 Trillion Checkbook AEI
Bring Back 30-Year Bond? No Guide From Greenspan NYT (R)
Greenspan: Nothing “off the table” MSNBC
After bond market rout, Fed chief underscores concern about deflation
Alan warns of deficit spending AP Bond turmoil forces Greenspan retreat TO
Double bubble to follow Greenspan's dot-com fiasco Taipei Times
The Federal Reserve chairman should quit now before the bursting of another bubble does further damage to his reputation
Dumping Bonds...or Dumping Gold? Gold-Eagle
Where are the bond market vigilantes? Prudent Bear
Oh, for those good old days Record Line
... when Republicans cared about reducing the federal budget deficit
Strapped local governments put building projects on ice USA Today
The Wrecking Crew Forward
The World Bank doesn't tell Washington what to do. Just the reverse: Washington does what it wants, hands out goodies to those it favors and sticks others with the tab...
California Insurance Guarantee Association headed towards bankruptcy Reuters
Happiness Running Pimco (Gross)
US consumers need a reality check Business Day
We are now in payback time after an abnormal period of prosperity laced with golden promises.
Consumers pessimistic on economy AP
Recovery: Capital, Yes; Jobs, No CFO
Globalization has created a world of problems AJC
Adjust? The Great Depression was also an "adjustment."
Update on the pensions crisis UPI
Damn you, Alan Greenspan!
Key US Senator mulls Fannie, Freddie capital Reuters
Scandal-Scarred, Citi’s Weill Quits NY Post
Banks better watch out CNN/Money
Banks' results have been good, but with rates rising there could be trouble ahead.
Are Microsoft Options Sellers Being Lowballed? Bloomberg
Options Decision Could Muddle Microsoft's Report TheStreet
Microsoft Warns of Flaw in Windows Reuters
Boeing to cut up to 5,000 more jobs-sources Reuters
American Airlines cutting 2,000 jobs Reuters
Baxter Says SEC Probing Profit Warnings Reuters
Price-sales ratio calculations may clarify earnings, stock's potential Det News
Online Trading Returns as Bubble Blues Fade MSNBC
Bill Would Put Internet Song Swappers in Jail Reuters
Economic Doctrines of Islam Safe Haven
Brazil reform doubts sap economic confidence Reuters
Taiwan's bond bubble stretched thin FT
Greenspan warns China on currency peg FT
Property bubble will go the way of the IT bubble Business Report
South Africa has well and truly caught the property bug that has been around in countries such as the UK, US and Australia for some time now.
Inflation in Zimbabwe surges to 365% FT
Growth gone with flying loonie Toronto Star
Zarlink Semiconductor Inc. is cutting its workforce by 10% T-Star
Iraq’s banks struggle under fire - Literally MSNBC
Military admits Iraq becoming 'guerrilla war' Seattle Times
Death Toll Surpasses Gulf War I CNN
Report: U.S. May Call National Guard for Iraq Duty Reuters
The Alan Greenspan Project rocks on USAT Greenspan vs. Hendrix CNN
Don't be fooled by earnings headlines MSN (Jubak)
Wall Street could still do a better job when other options-heavy technology companies report their earnings. But don’t hold your breath.
Nokia Warns of Lower Profits, Shares Fall Reuters
EMC Profit Rises, Outlook Disappoints Reuters AAPL
IBM earnings don't confirm tech recovery USA Today PC sales surge in 2Q03
Investors Cool to EMC's Tepid Outlook TheStreet
Ford's 2nd-Qtr Net Drops 27% Bloom GM drives past forecasts CNN/Money
Marriott Profit Dips Reuters Kraft prepares for a challenging year FT MO - KO
Wednesday July 16
Greenspan's new new paradigm UPI
Confusion reigns as the Fed's Greenspan turns positive Inde
Even after the disaster of the unchecked bubble, it is not thought of as proper in respectable circles to criticise the great magician...but has Alan Greenspan utterly lost the plot? - Greenspan and the Virtue of Fantasy TheStreet
Gold takes Greenspan-inspired hit CBS
Greenspan to Face Senate Questions on Bond Selloff, Deficits Bloomberg
Promiscuity In The Pursuit Of Virtue Pimco
Pimco's Gross sees bear bond mkt setting in Reuters (CNBC)
Five Financial-Market Fallacies NRO
Mad dash to buy CNN/Money
Low rates and the promise of a profit are feeding a housing frenzy
Fitch warns on danger of cuts in investment FT
Enron’s bank may apologise Times Online
“It will be carefully phrased but it will express contrition along with some sort of culpability.”
Finally Someone Says It: Investors Are Responsible for Losses Mises
U.S. automakers grapple with health costs IHT (NYT)
Mirant chief blames banks for going bust FT Mirant Rattles Energy Investors TS
Prospect of break-even no closer for Lucent FT S&P May Cut Reuters
Citi to pay $3bn for Sears credit card unit FT S&P Cuts Sears Rating Reuters
Ellison Gets 900,000 Stock Options Business Week
Layoffs soon to resume at Delta AJC
Grandparents help pay for college CBS MarketWatch
Nightmare on Wall Street Philly Inquirer
Zombie stocks refuse to die, even long after their companies have been buried.
Dollar Rises on Greenspan, Speculation BOJ Sells Yen Bloomberg
Bid to relax deficit rule is rejected IHT
China: The Dream Factory Morgan Stanley
Samsung Electronics 2nd-Qtr Profit Falls 41 Percent Bloomberg
Bears maul Karachi stock market Jang
“Over-exposed punters resorted to hasty selling of leading and second tier stocks to save their skin... market witnessed a virtual rout when aggressive and ferocious bears started rampaging the market mercilessly.” Shares Fall Like 9 Pins
S Korea votes for emergency cash BBC
Dumping IMF Is a Risk for Asian Debt Markets Bloomberg
Intel earnings rise, beat estimates CBS Motorola posts profit, warns
Deficits expected to reach $455B Reuters
Democrats and some analysts say that when revenue from Social Security is set aside, the actual deficit could approach $600 billion, or 5.5 % of GDP
Tuesday July 15
Greenspan Testimony FED
“The FOMC stands prepared to maintain a highly accommodative stance of policy for as long as needed to promote satisfactory economic performance.” T-Notes Fall
Bank of Canada cuts interest rates by 1/4% point BofC
Retail sales gain tops forecasts Reuters
Merrill Profits Up - J&J Beats - Loral Files for Chapter 11
Merrill Analyst Is Bearish on Second Half TheStreet
Global Economics: An Historic Moment? M.Stanley (Roach)
Dividend yields at historic lows
The Dow Jones Industrial Average must decline below 3,000 to get its dividend yield back to the levels of 1974 and 1982.
A Complex System View of Why Stock Markets Crash UCLA (Sornette)
U.S. Budget Deficit Is Expected to Exceed $450 Billion DJ (WSJ)
Home-sales outlook dips in 2004, 2005 CBS MarketWatch
Investors buying beach houses may be in for a burn USA Today
Retire Early? Think Again NewsWeek
Avoiding pension black holes FT
Documents Disclose Wider Pension Deficit NYT (R)
United Airlines' pension difficulties may be significantly greater than the airline has disclosed to its investors and employees
More pension troubles seen (Canada) Globe & Mail
Top firms' pensions 23 trillion in red (Japan) Asahi
More in state going bankrupt JS Online
The deflation threat to global economy Dawn
- Mirant Can't Refinance Debt, Files for Bankruptcy
- Bankruptcy Pits Bankers Against Bondholders Bloomberg
- List of creditors holding the largest unsecured claims DJ
- 10th-largest Chapter 11 bankruptcy Reuters
- The Financial Restructuring Mirant
- Putting Mirant's Chapter 11 in Context Mirant
J.P. Morgan near 2 Enron settlements CBS MarketWatch
Fannie Mae To Face Review WP Titanic Concerns Over Freddie Forbes
Citigroup doing away with stock options Reuters
Fannie Mae Q2 net falls on derivatives CBS MarketWatch
Ernst & Young Could Face New Liability in HealthSouth Case Accounting Web
Judge Can't Reduce Philip Morris Bond AP
Keeping up with Google costs Yahoo $1.6 billion U.S. Toronto Star
Wal-Mart chairman sells stock for $110M Bloomberg
S. Robson Walton’s first stock sale in almost four years.
SEC and Spitzer clash over funds probe FT
Buffett rebuffs buffet of bids Bloomberg
Northern Border Pipeline Capacity Nearly Sold Out Wish List (TCLP)
Asia fills her boots: dollar reserves skyrocket Asia Times
At a time when the United States remains tightly focused on its domestic economic problems and its international military adventures of the past two years, Asia has been quietly running up an absolutely staggering surplus of US dollars.
Fear of Floating Economist
By tying their currencies to the dollar, Asian governments are creating global economic strains
The Scapegoating of China Morgan Stanley (Roach)
China c. bank raises possibility of yuan reform Reuters
More gloom as Scots firms enter recession Scotsman
Poll Finds Most People Wary of Bank Accounts Moscow Times
The average Russian consumer would much sooner tap the pockets of a family member or friend than use a bank
Vietnam executes two over corporate fraud ABC Online
Chinese Tycoon Gets 18 Years AP/NYT
Air Canada cuts 300 white collar jobs Toronto Star
Norwich Union To Cut 900 Jobs Dow Jones
North Korea says it's ready to produce nuclear weapons Star T (NYT)
Perry Says U.S., N. Korea Are Drifting Toward War Bloomberg (WP)
NYSE Seat Sold for $2 Million NYSE
Program Trading Continues To Escalate NYSE
Monday July 14
Citigroup Profit Up - BofA Profit Rises - WMT: July Sales at High End
Wall Street great says the market is broken MSN (Fleck)
Investing pioneer John Templeton believes there is still huge downside risk to the stock market -- and he's almost as bearish on house prices.
There You Go Again? Northern Trust (July 7)
If the Fed is providing the financing of leveraged stock purchases of corporations and/or individuals, then stock prices are receiving a bit of an artificial extra boost.
Expert: House prices a bubble Daily Record
Mortgage rate increases hint of trouble SFC Investors bet on real estate AP
1929-style Stock Exchange crash likely this October 2003? VHeadline
Earnings Are Worse Without the Icing NYT (R) (Morgenson)
In 1991 the adjusted earnings were roughly 18 percent less than those the companies reported to shareholders...Shifting to 2002, the difference grows vast: earnings adjusted for the funny stuff were 41 percent less than the profits reported to investors.
Insider Trades May Point to Rally's Peak Bloomberg
Penny Stocks May Be Pound Foolish Hartford Courant
It's individuals vs. hedge funds NY Daily News
Decline of the Dollar American Conservative
Globalization and over-consumption combine to topple America’s strong-dollar tradition
The Cost of the U.S. Government is Rising BrookesNews ATR
No-jobs scenario for a while: US economist Reuter
The States' Dire Straits Business Week
There's only so much the federal government and Alan Greenspan can do to help cash-strapped governors balance their budgets
Private pension plans in Minnesota coming up short Minnesota Public Radio
The Lancer Papers NY Post
Lancer was the hedge fund industry's answer to Enron - an out-of-control swindle machine that struggled desperately, month after month and year after year, to hide its losses from investors.
Last One Holding WorldCom Stock Is Out WP
Many adults are playing a higher-stakes version of hot potato.
Freddie Mac to publish its internal report FT
Microsoft's Midlife Crisis Business Week
Morgan Stanley may face IPO charges Reuters
Continental Defers Boeing Deliveries Reuters Boise to buy OfficeMax CBS
The White Metal Daily Reckoning
Russell Comments Safe Haven
I must be the only jerk who still follows the money supply figurers. Or are the figures just too "embarrassing" for others to mention?
Revolting Obscene Prophets Thrift Capital Insight
The Misleading Nature of Mainstream Economics BrookesNews
EU Battles U.S. and Russia on Steel, Silicon Reuters, MT
House prices only make us think we are richer Scotsman
It is one of the fallacies of our time that property is a great long term investment. That is what the drug of inflation does to perceptions. It creates the phenomenon of "money illusion" - we think we are better off than we are.
Euro's rise has run out of steam Times Online
All the main economic blocs, America, Japan and the eurozone, are now seeking weaker currencies. They cannot all have their way.
China's money supply soars 20.8% IHT China looks upmarket CS Monitor
Japan bankruptcies ebbing but remain high amid slowdown AP
Canada may still hold millions in secret Confederate gold Ottawa Citizen
Interview With Roach SBS
This time it could be the bond bubble India Times Shiller Article IT Economist
Weekend Edition (July 12-13)
Poker at the Federal Reserve FrontLine
Roach: U.S. growth engine fading CNN
North Atlantic Tides Prudent Bear (Noland)
Trading the Pure QQQ PCR Zeal
The Coming Financial Reality CounterPunch
An Interview with Economist Michael Hudson
Buy High & Sell Low, A Formula For Success? Cross Currents
Are We Listening To The Message Of The Market? Comstock
Faster is Not Always Better Mises
State loses jobless aid extensions Boston Globe
Shun shares for a decade, says market guru Observer
Revealed: the great stock market swindle Observer
Periodic catastrophic declines that destroy years of accumulated profits are the norm, not the exception
U.S. looks overvalued from Europe CBS MarketWatch
How hidden risks fostered a crash Financial Post
Should pensions invest in equities? FP
Friday July 11, 2003
GE cuts earnings growth targets FT Cigna Cuts
June producer price index up 0.5%, but core drifts 0.1% lower Reuters BLS
General Electric 2nd-Qtr Profit Falls 14% on Economy Bloomberg
Prophet of doom warns of blowout (Roach) Australian
“Since the 1990s, the policy response to each asset bubble has guaranteed that it has spread to the next asset class.”
Been There, Done That Morgan Stanley (Roach)
One On One With William Gross NBR
Number Crunchers vs. Recession WP (Berry)
“Employment . . . has never been down so much this far into a post-recessionary phase... The current situation makes the early-1990s 'jobless recovery' look like a hiring spree"
House Panel Votes to Limit States' Policing of Wall Street NYT (R)
Spitzer: "an absolute, outright betrayal of the small investor."
Mortgage rates jump in latest week Reuters
Stock Options: The Fuzzy New Math Business Week MSFT
GM raises $2bn through car loan sale FT
Most Enron Creditors to Get 14.4 to 18.3 Cents on Dollar Dow Jones
Juniper beats expectations, but warns on Q3 FT
Mirant shares dive after report AJC
Sprint to shed 100 employees in information technology KC Star
Cerberus May Challenge Buffett Bloom $250,000 for a Buffett lunch Ebay
Corporate Raider (Heyman) Tries a Moneyless Coup NYT (R)
Long-Term Capital's Meriwether Takes on IRS With Long-Shot Bet
Feds Charge Lancer With Fraud, Seize Assets NY Post
HealthSouth probe reveals further damning email FT
Prudential Securities implicated in SEC probe FT
Color me (bullish on) Silver Russell
Silver: An Undervalued Asset Looking For A Catalyst (July 2) Financial Sense
Everybody Is Prodding China to Revalue the Yuan Bloomberg
China's exports, production surge more than expected Bloomberg
HK warns on property defaults Reuters
Schroder urges ECB action over strong euro FT
Europe braces for fight over accounting rules IHT (NYT)
Confidence poll gives warning New Zealand Herald
Canadians up to ears in debt, CIBC says Toronto Star
Oracle to double its staff in India FT
Federal authorities probe businesses on Iran AP
Euro Scheme Makes Money Talk Wired
Bush Knew Iraq Info Was False CBS
“A Bear Stearns analyst just raised his price target for the 10 REITs despite a run-up in REIT share prices, despite weak property fundamentals, and despite no real evidence of an economic turnaround. None of that matters, the analyst wrote, because stock prices in the group will be supported by money flows into higher yielding instruments.” Can The Rally Survive Earnings Season?
Testimony of Chairman Alan Greenspan on Natural Gas FED EIA Weekly
Thursday July 10, 2003
Jobless claims rise to 439,000 CNN/Money Import (+0.5%) Export (-0.1%) Cen
Wall Street is not Happy About Losing Fisher the Fixer NYP (Crudele)
Tech stocks' run renews 'bubble' fears AJC
Why the technology bubble burst in 2000 Toronto Star
State Budget Gaps May Sink Some Stocks TheStreet
Could California Default? Consider the Possibility Bloomberg
Giant sucking sound is loss of high-tech jobs from U.S. Arizona Republic
472,000 information technology jobs will move to India alone by 2015.
Americans work more than ever Business Week
A Reluctant Coming to Grips at Freddie Mac WP
Auditors and Financial Restatements Forced the Board to Reassess Its Longtime Executives
Real estate recession worsens in Silicon Valley San Jose Business Journal
Dot-com bust has freed up freeways Mecury News
Real estate funds popular with investors, but risks are high Washington Times
Retailers Muddle Through a Soggy June Reuters
Auto firm may stop issuing options AP
Tech companies snub Microsoft options move Reuters
BellSouth to launch cut price DSL service FT
SEC May Seek More Shareholder Power Reuters (WSJ)
SEC steps up Tenet inquiry Reuters
‘IPO Laddering’ Case Begins With Battle Over Documents NYP
UK interest rates cut to 3.5% BBC ECB Holds Steady
S. Korea Cuts Interest Rates to Record Amid Recession Bloomberg
Stock rebound doesn't mean Japan is out of the woods yet Japan Times (Kyodo)
Iraq weapons 'unlikely to be found' BBC
More Optimistic About Economy (Blue Chip) Snow Sees 3% GDP in Second Half
Wednesday July 9, 2003
“For the first time since the 1990s, stocks are doing what Wall Street's top gurus predicted they would do at the start of the year: They're going up...” USAT
"We are reflating the bubble." Richard Bernstein
Man Who Phased Out 30-Year Bond Quitting Reuters
Cisco Says Paper Misinterpreted CEO Reuters Chambers: IT Bounceback
Aging Tech Dogs Seek New Tricks TheStreet
Funds get caught in a bond bubble bind FT
Employment--A Lagging Indicator? Comstock Unemployment at 10.6%?
Exposing the Myth
Why Isn't More Help Wanted? Business Week
America shows the world how to be happy Times Online
The public and Wall Street money managers have not learnt much
Party Like It's 1999? CFO
Bubble Notes from the Field BlackBox
Demand for Home Loan Refinancings Drops Reuters
Consumer credit rose $7.3 billion in May Reuters FED
On Credit Watch NY Post
Regulation of the nation's rating agencies may soon change dramatically
Cable industry 'is gouging US consumer' FT Price Spike Sets Off Anger USAT
Pension Proposal Questioned WP May Hurt Some
"You change the assumption rates, you change the rules, then anything could happen"
Logitech shares drop on surprise warning FT
Board rules options can be easily valued Bloomberg
Microsoft Employees To Get Stock, Not Options WP Intel: out of options?
Microsoft Action Expected to Speed Change WP
Alcoa Profit Slips on Higher Energy Costs Reuters
Big Three extend car-buying incentives through July AP
Ford May Cut European Production as Sales Decline Bloomberg
The California energy crisis claimed another victim Tuesday SF Gate
R.J. Reynolds, Brown & Williamson Mull Merger TheStreet
McDonald's to Offer More Convenience with Wireless Reuters
XO Communications issues 51 pink slips in Spokane Puget Sound
How much for a seat at Buffett's buffet? Reuters
Calls to state gambling helpline increase sharply Stevens Point
Ex-Citigroup Head May Face Charges Reuters (WSJ)
Hold the Bubbly, Wall Street TheStreet
Some legal experts believe there's a better-than-average chance Merrill Lynch could lose on appeal
A tale of Olympian riches and tragedy FT
Delinquency in overtime payments at 30-year high Japan Times
Japan Govt Opts for Linux for Payroll System Reuters
The Russian oligarchs are coming ... but how did they make their money? Inde
UK exports to EU slump Reuters
Buba's Stark- can't use gold to pay for tax cuts Reuters
Germany's Unemployment and Output Gaps Hardly Offer Reassurance on Risk of Deflation AEI
Chinese internet groups capitalise on rally FT
Chinese firms cash in on online boom BBC
An unexpected and partly unexplained boom in share prices has left once-gloomy Chinese internet firms awash with cash.
First Financial Fires Citigroup as Share Sale Manager Bloomberg
3i taps appetite for convertible bonds Times Online
U.S. and UK take lion's share in Iraq oil tender Reuters
White House 'warned over Iraq claim' BBC
The CIA warned the US Government that claims about Iraq's nuclear ambitions were not true months before President Bush used them to make his case for war. -- US withheld uranium intelligence from UN FT
U.S. Toll in Iraq Nears '91 War Deaths AP
Tuesday July 8, 2003
Double bubble of Fed's own making FT
Greenspan should quit while he's ahead Japan Times
H-P and Dell Playing Lowball Poker With PC Prices TheStreet HP
Fannie and Freddie: Now Too Big to Regulate TheStreet
SEC Looking at Freddie Reserves - Report Reuters
Recovery or Boomlet? Mises
Pay no attention to the man behind the curtain...
Nostalgia won't slay bear market Chicago Tribune
Wall St.'s recent gains have provoked optimism about investing; But feeling warm and fuzzy about stocks is not enough.
10 red flags in this bull mania CBS MarketWatch
Do we have to learn the same lesson twice?
If This Is a Bull, Buyer Beware WP
’Bubble II' in Stocks Is Risk to Be Reckoned With Bloomberg
A little-noticed guilty party in the stockmarket's boom and bust Economist
The Bear's Lair: So where's the growth? UPI
Margin debt shot up in May CBS MarketWatch
Is it bullish or bearish that total margin debt in May had its biggest one-month increase since the top of the Internet bubble in early 2000?
The Hidden Dangers of Debt Fortune
Companies using today's low rates to juggle their loan payments may just be buying time.
Wi-Fi hot spots building up steam, but critics see another telecom bubble SFG
Stockholders Must OK Option Plans, SEC Orders Smart Pros (CST)
Corporations await Bush pension plan NYT
Deficit bonds gaining favor Sacramento Bee
State's Manufacturers Call For Help Fighting Foreign Rivals Courant
Chain Store Sales Rise as Summer Arrives Reuters
MCI warns on targets until 2005 - Schering warns - G-P to trim '04 tech budge
Bankrupt telecom firm says profits will fall short for 3 years
EMC to buy Legato for $1.3B - Yellow Corp. acquiring Roadway for $966 million
GM Extends Its Incentives Program Reuters
HealthSouth: Bankruptcy not imminent AP
Moody's considers lowering Liberty Media's rating to junk Bloomberg
Rangers, Stars owner in technical default AP
Happy Days Here Again? CFO Conference Board
Gold mining companies may lose their shine FT
Next, let's turn to the precious metals Russell
Central Gold-Trust Closes IPO of NA’s First Gold Bullion Trust Units PR
Wither Japan! Safe Haven
Japan's money supply growth near record low in June as lending slumps AFP
Mexican Bonds Post Biggest One-Day Loss in 4 Years Bloomberg
Bonds ditched on road to recovery SMH
Bond markets have taken a beating in the past three weeks...
Manufacturing gloom adds to pressure for rate cut Guardian
Lake Technology axes staff, looks to Asia SMH
Saddam bank notes to be phased out by early 2004 AP
Bread shoots to $1,000 a loaf ZWNews
Monday July 7, 2003
Deflation fears mean bond sell-off may be premature Independent
The Fed may eventually have to put its money where its mouth is (or was).
U.S. current account deficit last big bubble Financial Post
'In two to three years it could come to a dollar crisis'
Worriers see bond bubble AJC This summer, bonds make analysts sweat DFP
A Runious New Rally NY Post (Byron)
Don’t you just love how folks keep insisting that the Federal Reserve's 13th straight rate cut in the last two years is finally going to turn the economy around and make everything terrific again?
Flashpoint? Morgan Stanley
Bubble troubles The Oregonian Journal of Finance ($)
Tulipmania and The Dot Com Myth Brookesnews
Junk-bond chasers eye yields, downplay risks CS Monitor
Burrowing Deeper Into Debt Morgan Stanley
Can -- or will -- consumers keep spending? AP Debt Increase Etherzone
“Aren't recessions normally periods where the excesses of the previous boom are purged? Not this time around"
Car buyers burned by negative equity USA Today
Long-term unemployment downsizes lifestyles, hopes AP
More Tales of Bear-Market Education WP
A Bear Market in B-School Applications Business Week
As the likelihood of a hot job fades, so does the MBA's allure
Market for 'bulletin board' stocks launched FT
Microsoft dividend hike sparks speculation Bloomberg
Citigroup Leads Record $2.1 Trillion in Worldwide Bond Sales Bloomberg
Wal-Mart, Searching for Bargains, Fuels U.S.-China Trade Gap Bloomberg
Ericsson Chairman Says Market Still Weak Reuters
Northern bank lays off 100 - Layoff angers Madrigal staff - 120
Raising the Bar on Off-Balance-Sheet Finance TheStreet
Fears increase about £100bn of Treasury off-balance-sheet risk Times Online
Tough future for German banks AFP
Yes, Italians should speak up Independent
The Deloitte report suggests that deflation will arrive in Germany late this year and persist for much of 2004.
Solbes adds to eurozone gloom FT
“When we predicted 1 per cent growth in April we warned of risks to the downside and the upside. The downside risks have materialised"
U.K. Business Leaders Press BOE for Rate Reduction Bloomberg
Yield surge concerns Shiokawa Japan Times
Japan's Bond Bubble Isn't Bursting -- Yet Bloomberg
IMF backs stronger Chinese currency This is London
Chinese Yuan Forwards Gain After European Officials' Criticism Bloomberg
Singapore Is World's Fastest Growing IPO Market Reuters
Keynes is not answer to Asia’s Woes Brookenews
Monday July 7, 2003
Deflation fears mean bond sell-off may be premature Independent
The Fed may eventually have to put its money where its mouth is (or was).
U.S. current account deficit last big bubble Financial Post
'In two to three years it could come to a dollar crisis'
Worriers see bond bubble AJC This summer, bonds make analysts sweat DFP
A Runious New Rally NY Post (Byron)
Don’t you just love how folks keep insisting that the Federal Reserve's 13th straight rate cut in the last two years is finally going to turn the economy around and make everything terrific again?
Flashpoint? Morgan Stanley
Bubble troubles The Oregonian Journal of Finance ($)
Tulipmania and The Dot Com Myth Brookesnews
Junk-bond chasers eye yields, downplay risks CS Monitor
Burrowing Deeper Into Debt Morgan Stanley
Can -- or will -- consumers keep spending? AP Debt Increase Etherzone
“Aren't recessions normally periods where the excesses of the previous boom are purged? Not this time around"
Car buyers burned by negative equity USA Today
Long-term unemployment downsizes lifestyles, hopes AP
More Tales of Bear-Market Education WP
A Bear Market in B-School Applications Business Week
As the likelihood of a hot job fades, so does the MBA's allure
Market for 'bulletin board' stocks launched FT
Microsoft dividend hike sparks speculation Bloomberg
Citigroup Leads Record $2.1 Trillion in Worldwide Bond Sales Bloomberg
Wal-Mart, Searching for Bargains, Fuels U.S.-China Trade Gap Bloomberg
Ericsson Chairman Says Market Still Weak Reuters
Northern bank lays off 100 - Layoff angers Madrigal staff - 120
Raising the Bar on Off-Balance-Sheet Finance TheStreet
Fears increase about £100bn of Treasury off-balance-sheet risk Times Online
Tough future for German banks AFP
Yes, Italians should speak up Independent
The Deloitte report suggests that deflation will arrive in Germany late this year and persist for much of 2004.
Solbes adds to eurozone gloom FT
“When we predicted 1 per cent growth in April we warned of risks to the downside and the upside. The downside risks have materialised"
U.K. Business Leaders Press BOE for Rate Reduction Bloomberg
Yield surge concerns Shiokawa Japan Times
Japan's Bond Bubble Isn't Bursting -- Yet Bloomberg
IMF backs stronger Chinese currency This is London
Chinese Yuan Forwards Gain After European Officials' Criticism Bloomberg
Singapore Is World's Fastest Growing IPO Market Reuters
Keynes is not answer to Asia’s Woes Brookenews
Weekend Edition (July 4-6)
The Ultimate Balancing Act? Contrary Investor
Hedge Funds Can Be Fool’s Gold on Wall St. NY Post
Will Debt Put Dent in Spending? NYP
Consumers used to curb their spending when things were really tough...This downturn has been the first since 1949 without at least one quarter where spending fell.
Study: Job Flexibility Damping Hiring Reuters PDF File
Will earnings season kill the rally? CBS MarketWatch
Sector-by-sector preview of Q2 results, Q3 outlooks
Greenspan, Dead Cats Behind Nikkei's Rally Bloomberg
Ignore the arm-waving: IT still smells MSN (Fleck)
The fact is, companies are still delaying projects or canceling them outright. That -- plus overly bullish investor sentiment -- could set up a stock fallback soon.
Boom in shares, bonds paradoxical New Zealand Herald
Bursting the housing bubble LDNews
As America goes further and further into debt, there are consequences.
Has the U.S. lost its manufacturing edge? St.Louis Post-Dispatch
Wisdom of Jesse Livermore 4 Zeal
It's Going to be a Fascinating Second Half Prudent Bear (Noland)
Some Wall Street experts say talk of a bull market is BS AP
Stock options are back Mecury News
For the first time in years, Silicon Valley is buzzing again about stock options.
In earnings-warning season, excuses count MSN
Insider Trading on Top 9 Nasdaq Stocks Cross Currents (Chart)
Techs still don't yield CNN/Money
Microsoft eyes $10 billion payout FT
Dell to drop prisons as sites for recycling IHT (NYT)
A Conversation With Ken Goldstein Smart Money
SEC launches Cablevision probe FT
The Bankers' Bankers Meet Capital Insight
Triennial C-Bank Survey of Foreign Exchange and Derivatives Market Activity BIS
Sinking US dollar 'could drag world under' Observer
BIS warns banks on hidden credit derivatives dangers Reuters (June 30)
Laptop selling faster than desktop computers AP Fuel Cell Laptop
Euro Zone Unlikely to Grow in'03 -Solbes Reuters
House-price growth cools as equity withdrawal soars Independent
Fear that millions could plunge into negative equity if the housing market crashes.
ECB head hints of no rate change in July, scolds France, Germany AFP
German Factory Orders Declined in May Bloomberg
Goldman Says Yuan Undervalued as Much as 15 Percent Bloomberg
China called on to raise yuan's value AP
China To Launch Spot Silver Trading In Shanghai July 8 Reuters
Japan's leading index points to contraction Taipei Times
Bank of Japan faces bond buyback IHT (Bloomberg)
Sweden's Riksbank Unexpectedly Cuts Benchmark Rate Bloomberg
Our economy's in for `very rough ride' Toronto Star
Currency free ride is over as manufacturers face double whammy The Age
Thai Military Bank To Cut Rates By 25-50 Bps Monday Dow Jones
Canada loses money selling off gold reserves Globe & Mail
Air Canada investors cling to fantasy Globe & Mail
Reaction to job news is bearish CBS MarketWatch
Thursday July 3
Fears that bond bubble 'has passed its peak' FT
CBOT Probes Big Error in Dow Futures Reuters
Boston Scientific Warns - Siebel warns - Tweeter Warns - Oil Up on Nigeria
Economics and Measurement Mises
California is not alone in its delinquency Economist
Service Sector Surges in June ISM
Payrolls Fell 30,000 in June; Jobless Rate Rose to 6.4% BLS Bloomberg
Will the job market ever get better? CNN/Money Laid off and in a lurch MSNBC
Bush’s Record on Jobs: Risking Unhappy Comparisons NY Times (R)
For George Bush, the race has begun to escape comparisons to Herbert Hoover.
Debts could swallow up tax cut cash USA Today
Global View: The unstimulating economy UPI
SEC's Financial Reports Found to Be Inadequate WP
The agency's financial reports "are not presented in accordance with applicable federal accounting requirements"
Market fate in our stars or ourselves? CBS (Eliades/Crawford)
Investors will happily delude themselves Seattle PI
Surprise rate cuts boost stocks: Study Reuters (Bernanke & Kuttner)
UBS Analyst Resigns Over E-Mail WP
UBS analyst Howard G. Capek wrote to an acquaintance that HealthSouth was "a mess" and that he would not "own a share" of the firm.
Judge Gives Wall Street Second Win in Civil Lawsuits NYP
Invesco Cuts Back Mutual Fund Managers Reuters
Baxter to lay off 2,500; profit forecast cut SunSpot
AT&T Wireless to cut hundreds Seattle PI Insightful Corp. cuts 22
GM, Siemens Led Record Quarter in Convertible Sales Bloomberg
Ford CEO gets options worth $1.2 million Note
Microsoft May Move US Contact Centre Jobs To India EFE (Bloom)
2 Credit Card Firms Offer 0% `For Life' On Balance Transfers WSJ
California faces credit downgrade Reuters
Moody's, S&P warn of cut because of stalemate in closing $38B budget shortfall.
Utility bills to soar in N. Ariz. Arizona Republic
U.S., industry brace for mass hacker attacks AP
Greenspan Visits Philly Fed for Exhibit AP
The buck stops -- with gold WorldNetDaily The Bear is Dead, You Say? Droke
Japanese Bond Plunge Will End on Deflation, BOJ, Investors Say Bloomberg
Govt needs to cope with weak bond market Yomiuri
The real bond bubble CNN/Money
The big rise in Japanese rates could have major implications.
Duisenberg Silences ECB Rate Cut Talk Reuters
German government bunds FT (Lex)
Fears over raised retirement age prompt wave of attacks by unions/business Inde
Can Russia Defuse Its Pension Time Bomb? Business Week
HSBC blames red tape and NICs for 1,400 job cuts Times Online
BE to shift HQ again and cut 200 Scots jobs Scotsman
Auto market `is in the toilet' Toronto Star Loonie Leaps Full Cent
OSC misses Mafia connection Toronto Star
International Air Traffic Drops 21% in May IATA
Iraqi crude won’t flow fast enough to cut oil prices Times Online
California tops broke US states list Courier Mail
Wednesday July 2
Challenger: June U.S. job cuts lowest since 2000 Reuters
California tops broke US states list Courier Mail
The richest US state, California, has officially gone broke, topping a long blacklist of cash-strapped US states that could drag down the recovery of the world's biggest economy.
6 States Fail to Agree on Budgets WP
Budgets prompt refrain: 'We ran out of money' USA Today
States are cutting their workforces for the first time since 1997.
Some Long-Term Budget Forecasts Worsen AP CBPP
Federal Pension Provider Overwhelmed WP
The federal agency charged with ensuring that workers from bankrupt companies get their pensions has been forced to take over a record number of plans and now faces a $5.4 billion deficit, the largest in its history.
Massive Restructuring, Moderate Deflation Morgan Stanley
It will get ugly when the bond bubble finally bursts Buffalo News
Housing Shows Cracks in Foundation Bloomberg
Mortgage borrowing rose $723 billion (annualized) in the first quarter of 2003, according to the Fed's Flow of Funds report. That compares with an increase of $667 billion in 2002 and $375 billion in the boom year of 1999.
Market Eye: Absent growth UPI
Mortgage activity climbs Reuters MBAA Last fling for refi
Evidence of market manipulation CBS MarketWatch
Is the stock market being manipulated?
Currency Valuations and Protectionism Comstock
Dollar May Extend Slide This Year as Recovery Falters Bloomberg
Auto sales unimpressive in June Reuters
Frenzied discounting Beacon Journal
Out on the Street NY Post
The business of selling, trading and underwriting stocks has been decimated - and there are still more job cuts on the horizon.
Verizon Set To Take $3B Charge WP
BA furious over 'junk' credit rating Independent
Can you give credit to Standard & Poor's ratings? Independent
Bayer: Moody's downgrade incomprehensible Bayer (June 13)
More layoffs announced at Georgetown Steel AP
Prison layoffs begin today Daily Record 68 PCS employees
Another season in scandal hell CNBC
Judges Reject Suits Blaming Analysts for Losses NY Times (R)
Investors eager to take on risk were to blame for their own stock market losses
IRS Closes Door on Controversial Tax Shelter AccountingWeb
And So It Goes. . . Russell
Downbeat Governor fuels rate cut hopes Times Online
'Economic crisis' forces German call for lower rates Guardian
China seeks to ease pressure for revaluation FT
Six years after crisis, Asia both learns and forgets Reuters
Ahold Raises Error Total to $1.1 Billion WP
Gucci profits crash to earth BBC
Will the market be right this time? Globe & Mail
Tuesday July 1
Jobs Market Stuck in the Doldrums Reuters
American Lays Off 3,100 Flight Attendants Reuters
Manufacturing in U.S. Unexpectedly Contracts Bloomberg ISM
Echoes of '99 Euphoria Set Off Alarm Bells Hoovers (AJC)
"It has become clear that some stock buyers already have forgotten the lessons of the long bear market."
Plunging interest rates alarm critics Mecury News
What the Fed is trying to get is the upside of the cycle without the downside
Kindred Spirits Morgan Stanley (Roach)
Most are quick to dismiss comparisons between America and Japan.
Even bear markets bounce CBS (Prudent Bear - Tice)
April 1993: “Analysts now think the Nikkei will head toward 21,000 before long.”
Values still matter and it's no different this time CBS MarketWatch
Our proprietary Blue Chip Trend Verifier indicator is flashing a warning light. It is as overvalued now as it was in 2000, 1987 and 1973.
All Aboard the Hope Express! Oregon Magazine
“In 1982, stocks sold at 7.9 times earnings, yielded 6.3%, were priced at less than one times book value and one-third of sales.”
Bond funds risk a time bomb Philly Inquirer
Rule to Add $400 Billion to S&P 500 Books Reuters Interpretation 46 (PDF)
Chain Store Sales Fall Over the Week Reuters
Trash Company Cuts 600 Jobs The Ledger Disney Lays Off 100
More layoffs expected at UT-Houston Houston Chronicle
Tobacco Production Lowest Since 1874 AP
S&P cuts RJ Reynolds Tobacco debt ratings to junk Reuters
Qwest workers' retirement plummets Rocky Mountain News
Insurance Firm in 9-11 Claims Ordered To Liquidate Dow Jones
Freddie Mac Says Portfolio Grew in May Reuters
Freddie and Fannie can survive a collapse in home prices - OHFEO - PDF
Read This if you Want To Save Money on Your Mortgage NYP (Crudele)
States borrow record amounts USA Today
Nanny States Do Not Work! Sierra Times
California is tip of much greater iceberg
U.S. indictment in short-selling case USA Today
Former broker sentence in mortgage scheme AP
Investors gain stock-option clout Seattle Times (Bloom)
Shoppers shrug off slowdown with credit card spree Guardian
A widely-predicted cut in interest rates by the Bank of England could tempt consumers to pile up even more debt, and make the inevitable downward correction more painful.
UK House prices stagnate BBC
Japanese Business Confidence Unexpectedly Rises, Tankan Shows Bloomberg
Janapense Pension funds caught in the country's woes Hoovers (FT)
China faces more pressure to lift curbs on yuan Business Times
Japan joins US in calling for increased flexibility
Mexico's lost decade NYT (R) (FT)
Dodge must lower rates to avert a recession Globe & Mail
Alstom Reveals Accounting Errors at Unit Reuters
Network Rail to axe 2,000 jobs Guardian
A Vietnamese man who used cow fat and paint to pass off a lump of iron as valuable black bronze found buyers -- but was paid $64,000 in counterfeit bills.
Reuters
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