Gauging a bank’s health by seeing how much capital it would need to get through a deep recession seemed a good idea at the time, says
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Retail Sales in Jan rose .4% headline m/o/m, .7% ex auto's, .6% ex auto's and gasoline and .7% at the core. The headline figure was less than expected while the rest were slightly better. But, with respect to non headline sales, because Dec figures were revised lower, taking the two months together were about in line with forecasts overall. Sales rose in electronics, building materials, food/beverages, clothing, sporting goods, dept stores and restaurant/bars and fell interestingly for online retailers, health/personal care, furniture and motor vehicle/parts. Bottom line, headline sales were below expectations due to the greater than expected fall m/o/m...
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April 18th, 2009 at 8:38 pm
My explanation of the Stress Test is this: It is a JOKE!
The whole exercise is a lot of wasted time and effort that is not going to fool anyone. I mean that was the whole idea behind it, wasn’t it? To fool us? I mean…, is that not the way the FED and Wall Street work through their problems these days.
Feed us all alot of horse shit while robbing us blind? Yes, it’s a joke…..a very bad joke.
April 23rd, 2009 at 10:55 pm
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