A quick note before I hop out the door — I will be on Liz Claman’s show from 3:00 to 4:00pm today on Fox Business, discussing the usual.
Liz was always one of my favorite people at CNBC, and it will be nice to see her.
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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June 4th, 2009 at 2:26 pm
Ritholtz, be sure to keep your eyes on her face. Good luck.
June 4th, 2009 at 2:44 pm
Please let Liz that I’ve always had a crush on her…..She’s very easy on the eyes and I might add they have her looking better on FBN.
June 4th, 2009 at 3:08 pm
yeah, i second cnbc sucks in wishing him luck.
June 4th, 2009 at 3:22 pm
Mortgage rates pass 5 pct for 1st time in 3 months
- AP Oil soars to new high for ‘09
- AP Gold surges to a near record- CNNMoney
Barry,
These are the 3 headlines from this afternoon’s Yahoo-Finance….
I would say higher rates are in our very near future…wouldn’t you?
June 4th, 2009 at 3:29 pm
I miss Liz and her fine red headed self… dont miss cnbc though.
June 4th, 2009 at 4:07 pm
I’ve heard of Liz Claman in history books, but what’s this “Fox Business News” you speak of?
June 4th, 2009 at 4:09 pm
Liz, is a doll. Does she make house calls? lol Would one of you very intelligent people on here, please tell me what ever happen to the “deflation” debate? It seems like there isn’t anyone willing to come out and argue for it these days, or if there are very few. My mind is leading me to believe that the inflationistas got locked and loaded in there positions and now spend all day talking their books up. Could such behavior actually drive the markets into such a frenzy? Very scary out here.
June 4th, 2009 at 4:16 pm
It seems like all the hyperbole on inflation is coming form the same asshats who talked down the market after Obama won the election and referred to it as the Obama bear market.
June 4th, 2009 at 4:32 pm
Did anybody catch the Tech Ticker interview with Doug Kass (posted here), in which he quips “I’m not here to make friends. I’m here to make money.”? Isn’t this the type of Wall Street mentality that brought down the house? Make money at someone else’s expense? Ya, i know making (and holding onto) money requires acumen, disclipine, and the ability to make decisions that are counter to intuition to emotions, but his comment seems, i don’t know, pernicious? Ok, so he is up there in the inner-circle of Wall Street where he can make money because he is privy to information before it is widely disseminated, thus he has a leg up on the rest of the investment community. Good for him. Why doesn’t he try to make “friends” by subscribing himself to public service? Lord know, there are 600k people a month losing jobs that could use a good friend right now.
A perfect example is Congressman Grayson. Immensly succesful business man, now turned public servent to help enable change so future generations are less likely to be burdened with the fallout of the credit crisis. Our country needs more leadership and talent in government. When is enough money, enough? And for how long does one have to continue to make obscene amounts of money, Mr. Kass? No bleeding heart liberal, here. Just an observation.
Barry, I love ya, man, but sometimes there are things that are best kept to oneself, especially when these things find thei way to your conference, in which your conference is trying to illuminate the detrimental past, present, and future consequences of the status-quo mindset of Wall Street.
June 4th, 2009 at 4:33 pm
@Moss
Clearly people like William Poole, Richard Fisher, Alan Grayson and Ben Bernanke are just ignorant, tea-partying, Obama-hating rednecks who pay too much attention to Glenn Beck and Rush Limbaugh(sarcasm).
High inflation in the near to medium term are real possibilities. So is a long period of deflation. By the by, but Peter Schiff actually preferred Obama to McCain (though I’m guessing he wrote in Ron Paul).
June 4th, 2009 at 5:19 pm
Dude you are on quite the spamming campaign here today… Now how about you GTFO of here?
June 4th, 2009 at 5:30 pm
Missed you on Fox….hope you aren’t wearing that same white shirt open at the neck,
t-shirt and dark suit… makes you look like you should be working down onW 47 st.
June 4th, 2009 at 5:55 pm
@JustinTheSkeptic 4:09 pm
People are starting to wise up. As I’ve said before; credit & asset price deflation do not negate monetary inflation. Actually, if BB and gang keep the money spigots open a little longer to loosen credit and put a floor under assets prices that’ll create a lot of inflation in the pipeline. Everyone should be praying that they wise up soon and change course or the USD will be toast. My bet however, is that their masters will not allow them to.
June 4th, 2009 at 6:54 pm
Pat G @5:55
I think I read yesterday where the banks have 250x the loanable funds on their books this year vs last year this? How can money flow into the system forcefully enouth given those stats? Obviously, the government is trying to do it with “shovel ready,” jobs but won’t that take some time – 18 to 36 months? And also, when looking back on Easy Al’s casino – “we have the looses slots around,” years in office, can we really say that inflation was an over-riding problem? OK, commodities climbed, but how much of that rise was financial market induced and not economic reality?
June 4th, 2009 at 8:39 pm
@BR
After the fact, but unfortunately I ‘missed’ the segment…
I must confess though that I would have been focuses A LOT more on Liz…
It’s tough trying to tune in to “business media” these days…I usually only can force myself to do it if the MUTE button is on (although I’ll listen to Santelli)…
With Liz…no problem…I don’t need to hear what she says or who’s she’s interviewing…I just WATCH…
June 5th, 2009 at 1:05 am
Yes, Liz Claman is obviously a very … yeah, you know what I’m saying. She also happens to be one of the smartest “money honeys” around. Smarter than most of the boys, too.
(Just trying to give credit where credit is due.)