Posting will be light this morn, as I am presenting at the NYHFRT today.
The topic: The housing boom and bust, the credit bubble, as well as the stock market crash — where do we go from here and how to repair the financial markets.
Looks like a good crowd of fund managers — I’ll be back before noon.
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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March 16th, 2010 at 10:12 am
Would I be too much of a cynic to believe the number of lobbyists present will dwarf the number of hedge fund managers? They’ll be the ones taking notes fastidiously while smiling ear to ear, thinking all the while how they’re going to turn each proposal to fix the markets into a money-making opportunity to lobby Congress into turning water into wine (well for themselves…)