Issue: 8/31/07
The Stock Market went up 119 points today because President Bush announced help for some homeowners who are in trouble with their mortgages. The fine print said those homeowners had to have good credit and only be a little behind in paying their mortgage.
Here are the details behind the speech. There [...]
Issue: 8/30/07 Thursday
Today’s preview: See paragraph 6 below…” The worry is that the roller coaster ride in stocks and spreading credit problems will shake consumer and business confidence and cause cutbacks in spending and hiring plans.”
Today the market went up and down, and ended down 51 points. It was a battle between the optimists [...]
Issue: 8/29/07
Another rollercoaster day. This time the market went up 247 points. Why?? Well, the investors just FELT like the Fed would be nice to them in September, and reduce the Fed Funds rate. Feelings are nice. They move markets. But, they’re not fundamentals!!!!!
U.S. Federal Reserve policymakers continued to [...]
Issue: 8/28/07
Wow. What a day. The market gyrations came back today with a vengeance. The Dow was down 280 points. What caused that negative feeling in the market?? On Wall Street, stocks sank as the Fed minutes failed to soothe investors, who were hoping for a stronger sign about a [...]
Issue: 8/27/07
By Global Economy Guru, Tom Harvey…
The market went down today (Monday) because the housing news just doesn’t go away. The Dow close down 57 points. Oil was up slightly. 10 Year Bond interest rate fell a little, and Gold stayed about the same.
Sales of existing homes dropped for a fifth straight month [...]
Issue: 8/24/07
(See note about Chinese banks and sub-prime markets at end.)The Market closed the week up 143 points with buoyant enthusiasm. Why did this happen????
Sales of new homes perked up, while factory orders took off in July, raising hopes that the economy can safely weather financial turmoil that has shaken Wall Street. [...]
Issue: 8/22/07
The stock market soared (up 145 points) today because the herd felt that the liquidity crisis is over, and things are back to normal. Really?????!!!!!! Here’s what’s really going on.
Four major banks said Wednesday they each borrowed $500 million from the Federal Reserve’s discount window, [...]
Issue: 8/20/07
Well, the dust has settled over the Fed’s cut in the Discount Rate. And, here is what they didn’t tell you on the news shows. This was a dramatic change in the way the Fed does business. Not only did the Fed change direction by 180 degrees [...]
Wow. What a day. The FED finally acted. I wonder if there was a political push. They dropped the Discount Rate 0.5%. This won’t do a thing to solve the liquidity crisis that has been occurring. However, it did appear to make the financial institutions in [...]
Okay, so I said the DOW was going to go up and test the 13,000 level today, but I was wrong. It decided to go down 340 points, and then come right back to where it started, closing down 15 points. The momentum is upward, so I am guessing tomorrow [...]