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  Wednesday, 2 Feb 2011 | 3:23 PM ET

Real Health Care Reform: Americans Need to Start Drinking More

Posted By: John Carney
Glass of Whiskey
Jonnie Miles | Getty Images
Glass of Whiskey

Americans are drinking too few alcoholic drinks.

That’s the way we read the data presented by Stan Peele in today’s Wall Street Journal .

The national Survey on Drug Use and Health says that only 55 percent of 50-year-olds have had a drink in the past month. If they asked about how many drink daily, that number would be far lower.

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  Wednesday, 2 Feb 2011 | 3:21 PM ET

Amid Chaos, Lots of Trades in Egypt ETF

Posted By: John Carney

The exchange-traded fund that aims to track the Egyptian stock market is on fire again today.

The one year old Market Vectors Egypt Index ETF is normally thinly traded—with less than 100,000 shares trading hands each day. Today it has seen volume near 700,000. It may exceed Friday’s record volume of 1.2 million shares.

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  Wednesday, 2 Feb 2011 | 2:56 PM ET

Fed to Start Tightening as QE2 Runs Out: LaVorgna

Posted By: Jeff Cox

The Fed will begin a tightening of monetary policy after its quantitative easing program ends in June, with a gradual increasing of interest rates by the end of 2011 and into the following year, according to Deutsche Bank’s Joe VaVorgna.

With the second leg of the Fed’s QE program to run out in June, after it purchases another $600 billion of Treasurys to expand its balance sheet to nearly $3 trillion, it will then be faced with a tough choice of how to proceed.

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  Wednesday, 2 Feb 2011 | 1:59 PM ET

Winter Forecast: Terrifying Weather!

Posted By: Ash Bennington

This winter is going to be brutal—perhaps the worst in a century.

This news comes to us from AccuWeather Chief Long Range Forecaster Joe Bastardi.

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  Wednesday, 2 Feb 2011 | 1:25 PM ET

First Day Still the Best Day to Trade the S&P 500

Posted By: Jeff Cox
Getty Images

In retrospect, Tuesday’s big rally in the stock market wasn’t hard to figure out. The market did what it almost always does the first day of the month.

Traders didn’t let a little geopolitical tumult get in the way of behaving the same way they have in 12 of the past 14 first trading days of the month. They bought the S&P 500 and bought it big, sending the index to a close above 1,300 for the first time since June 2008.

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  Wednesday, 2 Feb 2011 | 11:57 AM ET

Who are the 'Egyptian Military'—And How Do They Resemble a Dysfunctional Bank?

Posted By: Ash Bennington
Marchers shake hands with Egyptian Army soldiers on tanks during a demonstration against President Hosni Mubarek in Tahrir Square January 29, 2010 in Cairo, Egypt. Egytian soldiers were for the most part interacting peacefully with the marchers in Tahrir Square during the afternoon hours.
Getty Images
Marchers shake hands with Egyptian Army soldiers on tanks during a demonstration against President Hosni Mubarek in Tahrir Square January 29, 2010 in Cairo, Egypt. Egytian soldiers were for the most part interacting peacefully with the marchers in Tahrir Square during the afternoon hours.

As the situation on the ground in Egypt continues to destabilize—with riots breaking out in Tahrir Square earlier this afternoon Cairo time—there is much discussion of the critical role the military will play in Egypt in the days and weeks to come. Among policy analysts who seem to agree on little else, there appears to be a consensus on this: The military will play a key role in determining the future of the Egyptian nation.

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  Wednesday, 2 Feb 2011 | 11:21 AM ET

Goldman Told Tech Guru Jim Clark That John Paulson Was A “Bit Player”

Posted By: John Carney
John Alfred Paulson, president of Paulson & Co., Inc, listens during the House Oversight and Government Reform Committee November 13, 2008 in Washington, DC.
Tim Sloan | AFP | Getty Images
John Alfred Paulson, president of Paulson & Co., Inc, listens during the House Oversight and Government Reform Committee November 13, 2008 in Washington, DC.

In August of 2006, Jim Clark—the founder of Netscape and Silicon Graphics—met with Paulson & Co founder John Paulson. Clark was impressed by Paulson’s plans to short the subprime mortgage market. But when he spoke with his advisors at Goldman, they talked him out of investing with Paulson, who they described as a bit player.

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  Wednesday, 2 Feb 2011 | 10:41 AM ET

Does Anyone Remember Egypt: The Prize?

Posted By: John Carney
Egyptian demonstrators demanding the ouster of President Hosni Mubarak, gather around the national television building guarded by members of the Presidential guard in Cairo on January 28, 2011.
Khaled Desouki | AFP | Getty Images
Egyptian demonstrators demanding the ouster of President Hosni Mubarak, gather around the national television building guarded by members of the Presidential guard in Cairo on January 28, 2011.

A little over nine years ago, one of the biggest stories in international affairs was Thomas E. Ricks’ page one story in the Washington Post about a briefing given to a Pentagon advisory group, that characterized the Saudi ruling family as enemies of the United States.

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  Wednesday, 2 Feb 2011 | 10:39 AM ET

Central Bankers Strike 'Devils Bargain'; US 'Heart Transplant': Gross

Posted By: Jeff Cox
Bill Gross of PIMCO participates in a conference on the future of housing finance at the Treasury Department in Washington, DC.
Getty Images
Bill Gross of PIMCO participates in a conference on the future of housing finance at the Treasury Department in Washington, DC.

Central bankers compare unfavorably to the devil, America needs a heart transplant, and financial advisors “have failed miserably” at reaching their most important goal, Pimco’s Bill Gross says in his latest commentary.

The managing director of the world’s largest bond fund manager spares scorn for no one in an evaluation of what has happened because of overwhelming debts in global nations.

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  Wednesday, 2 Feb 2011 | 9:45 AM ET

Sen. Ron Johnson: I Stand With Obama Against Earmarks

Posted By: Lori Ann LaRocco

We're a little less than two weeks away until the White House releases its 2012 budget and both sides are getting ready to battle.

The Republicans continue to vow to drastically cut spending and the deficit. Senator Ron Johnson, the junior Senator from Wisconsin, but he is quickly becoming a big name among hill Republicans.

Delivering the GOP's national weekly radio address last weekend, Johnson said the root of all economic evil facing our nation is “big government" and uncontrolled spending. Sitting on the Budget and Appropriations Committees, the former accountant and manufacturer hopes his "real world" experience will help re-shape Congress' spending habits.

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About NetNet

  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

  • Jeff Cox is finance editor for CNBC.com.

  • Lawrence Develingne

    Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.

  • Stephanie Landsman is one of the producers of "Fast Money."

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