Posts filed under “Currency”

Just How Bad Was October 2008 ?

Not too shabby a week — plus 11% across the major indices, with some areas even stronger. Of course, that comes from deeply oversold levels, with stocks peak trough down 27% within October. The key question going forward is whether or not this past week’s snapback rally has legs. But rather than guess about that, let’s look at some of the more intriguing data points from October 2008.

Gee, I picked a bad month to stop sniffing glue:



• October was the worst month for the Standard & Poor’s index of 500 stocks in 21 years — since the 1987 stock market crash. (NYT)

• The Dow dropped 14% drop over the past four weeks — the biggest October decline since 1987, when the crash sent markets down 23% for the month. The S&P 500 was down 17%, and Nasdaq fell 18%. This ranked as the 15th worst monthly decline for the Dow Industrials since 1900.

• Global equities in October shed $9.5 trillion. (Barron’s)

• October 2008 was the most volatile in the 80-year history of the S.& P. 500. (see NYT chart, at right)

• We had the most down days in a single month since August 1973. (Marketwatch)

• Compare 3 recent SPX Bear Markets: -46% from October 2007; Compare that with 1973-74 down 48% over 23 months. The 2000-03 bear was 49 percent over nearly 3 years.

• The S&P 500 had the most volatile month since November 1929 (1% moves higher or lower).

• October had two days where the indices were up more than 9% — the 10th time this has occurred over the past 80 years. (NYT)

• During an eight-day losing streak at the beginning of the month, the Dow lost 2,396 points.

• Consider days with 4% moves up or down: None from 2003 through 2007; Three throughout the 1950s and two in the 1960s. October 2008? 9 days with four percent plus or minus. That edges out September 1932′s record of 8. (NYT)

• The Dow had its second-biggest point drop on record, of 733 points.  The Dow posted two of it biggest point gains, climbing by 936 points (October 13th) and 889  (October 28th)

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Category: Commodities, Currency, Data Analysis, Markets, Trading

Adjusted Monetary Base

Category: Currency, Federal Reserve, Inflation

Adjusted Reserves: Welcome to the United States of Argentina


Category: Currency, Federal Reserve

Stephan Roach: Huge Setback for US-style Capitalism

Part I

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Part II


Part III


Category: Bailouts, Credit, Currency, Video

Crude Oil = $130

Category: Commodities, Currency, Energy, Taxes and Policy

Bailout Plan Threat to Dollar ?

Category: Bailouts, Currency, Taxes and Policy

Bill Moyers & Kevin Phillips on Bad Money

Bill Moyers sits down with former Nixon White House strategist and political and economic critic Kevin Phillips, whose latest book BAD MONEY: RECKLESS FINANCE, FAILED POLITICS, AND THE GLOBAL CRISIS OF AMERICAN CAPITALISM explores the role that the crumbling financial sector played in the now-fragile American economy.

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September 19, 2008


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Category: Bailouts, Currency, Economy, Video

Dear Investor….

Category: Credit, Currency, Finance, Hedge Funds, Short Selling

Faber: Global Economy in Recession

Investor Marc Faber, publisher of the Gloom, Boom & Doom Report, talks with Bloomberg’s Kathleen Hays about the euro’s performance against the U.S. dollar, the commodities market and the global economy. The euro fell the most in almost eight years against the dollar as traders pared bets the European Central Bank will raise interest rates as the economy slows.

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00:00 Euro versus dollar; "global recession"
01:54 U.S. economy, ECB rates; commodities market
04:14 Investment strategy: dollar, Japan
Running time 05:18

Faber Says Global Economy in Recession; `Long’ on Dollar: Video
Bloomberg, August 8, 2008 15:27 EDT

Category: Currency, Economy, Video

New Fiat Federal Reserve Note

Category: Currency