The stock market could learn a lot from Swan, Ajax and the rest of the gang from the 1979 cult favorite "The Warriors."» Read More
The Consumer Price Index for Urban Consumers—commonly referred to as the CPI-U—increased 0.1 percent in November, on a seasonally adjusted basis. The number was released earlier today by the Bureau of Labor statistics.
What—if anything—does that data point tell us about the broader economy?
Earlier today, I spoke with Dr. Robert Shapiro to help us put that number into context, and to provide a broader economic perspective.
Dr. Shapiro was Under Secretary of Commerce for Economic Affairs during the Clinton administration, and the principal architect of President Clinton's 1992 economic program.
"What we know from this number is what we knew without this number: Namely, the recovery is abnormally slow, unusually fragile, companies can't raise prices in that environment. Demand is not strong enough to support higher prices," Shapiro said.
John Kinnucan, the man who refused to wear a wire in an ongoing insider trading probe , just received a subpoena from the SEC.
If China is no longer the U.S. government's largest creditor who is?
You guessed it: The Fed.
(Against the backdrop of QE2, this probably isn't terribly surprising.)
Tyler Durden at ZeroHedge has crunched the numbers from today's release of TIC data (Treasury International Capital)—and some interesting facts have emerged.
First, the U.S. Federal Reserve holds a total of $996 Billion of U.S. Debt —versus the $907 billion in U.S. debt held by Mainland China.
Everyone today is obsessing over the 43-page UBS brochure setting forth an elaborate dress code.
"Dresscode UBS à l’attention des collaborateurs PKB" is the formal title of the document.
It's a very typically obsessive Swiss document, with advice on everything from how many pieces of jewelry to wear (maximum of 3 pieces for men, 7 for women) to what color underwear should be donned . There's also some weird stuff, like a ban on women wearing new shoes.
The dress code is being tested out in five branches in Switzerland but may be rolled out worldwide, according to the Wall Street Journal .
My favorite part consists of advice on how to wear a tie.
This is translated from French to English by Google Translator \(Pardon the unusual grammar\):
You'd expect Wall Street's most powerful banker to spend his lunch hour at Grill Room of the Four Seasons Restaurant. But Lloyd Blankfein would rather hit the salad bar at his company's cafeteria any day of the week.
Barclays Capital did not go too far to get their Yuletide cheer going this year.
Thomas Carlyle famously called economics 'The Dismal Science': But finance, it turns out, ranks only 9th in the Depression league tables.
This according to a new report by Health.com.
Whether coming in 9th—at anything, really—is cause for rejoicing, or for deepening your depression, depends largely on your perspective.
Let's compare finance to other professions. It turns out that Nursing Home & Child Care is the most depressing way to earn a living. Eleven percent of those employed in this field report a "bout of major depression".
Goldman Sachs is the best place to work on Wall Street. And Lloyd Blankfein is the most popular chief executive.
There used to be a joke that went like this. Two guys were sitting in a bar talking politics. "So what party do you support," one fellow asked. "I'm not a supporter of any organized political party," the other fellow said. "Me neither," said the first guy. "I'm a Democrat."
These days both the Democrats and Republicans seem to be fracturing under the weight of the government's budget deficit, taxes, and the still stymied economic recovery. I decided to speak with the Godfather of the Tea Party, Former House Majority Leader Dick Armey. FreedomWorks, his organization, has been a vocal supporter on the extension of the tax cuts. I asked him about the division within the Democratic Party and the Republican Party when it comes to taxes.