While the focus in Washington this week is on the forensics of Goldman Sachs’ actions during the financial crisis, and the outlook for domestic financial regulatory reform legislation, scant attention has been paid to the need for reforms to bring greater safety and stability to the global financial system.
I ripped that headline directly from a report written by Mike Fitzpatrick of MF Global, one of the best oil guys around. Thanks, Mike. I couldn't resist it. It so says it all. As late as Thursday afternoon of last week I was still reading reports that hoped Greece would not have to ask for financial aid. I don't know how you could come to that position.
Stocks wavered Thursday after a report showed existing-home sales rose and the supply of homes on the market started to shrink. What should investors be watching for? Ryan Detrick, chief technical strategist at Schaeffer’s Investment Research discussed his insights.
But is it too late to get in?
Actually, they’re all illusions, Cramer says. He breaks them down one by one.
I’m a regular reader of David Leonhardt, the New York Times’ Economic Scene columnist. He frequently combats a lot of ignorance about economics generally, and the impact of economic policy, specifically. So I was anxious to read his column this week -- Yes, 47% of Households Owe No Taxes. Look Closer.
Fed Chairman Ben Bernanke told Congress Wednesday that he has confidence the economic recovery will have staying power, although the rebound won't bring quick relief to unemployment. Marc Pado, U.S. market strategist at Cantor Fitzgerald, shared his economic outlook.