Cartoon of the Day: The Dinosaurs
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Sunday, March 02, 2008
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
Previous Posts
- St. Obama's Auto Trouble
- A City Growing, A City Dying
- The Coming Death of Indian Outsourcing?
- Resource Economist Julian Simon on YouTube
- McCain:Free Trade; Clinton, Obama: Intervention
- Inconvenient Weather: Welcome to the Ice Age
- 25th Month of Real Disposable Income Growth
- R.I.P. Buddy Miles
- Global Hockey Competition: N.H.L. vs. Russia
- Election Odds: Obama Now Almost a 6:1 Favorite
3 Comments:
Inflation's Power: The Dollar in 25Years
http://seekingalpha.com/article/66657-inflation-s-power-the-dollar-in-25-years?source=wildcard
On Wall St: Commodity boom backfires on consumers
The Federal Reserve is attempting to fill up the liquidity punchbowl with big interest rate cuts. But it is beginning to look like an old party trick. Cheap cash for consumers and Wall Street banks has not translated into lower mortgage rates, let alone alleviated stress in the credit market.
Instead the prime beneficiary has been commodities. The dollar has fallen out of favour and set record lows against the euro and a basket of rivals, helping to boost commodities prices across the board.
Since the Fed started to cut rates last September, the Reuters/Jefferies commodity price index has risen more than 30 per cent, with oil, precious metals and wheat all setting record prices this week.
http://news.yahoo.com/s/ft/20080229/bs_ft/fto022920081148180732;_ylt=AiVpwiZ2J4vX3S.Jt4wzkJas0NUE
This isn't going to be a laughing mater as the empire crumbles, you better get your arms around that fact.
Anon 8:29
The Fed lowering interest rates is just a way for the taxpayer to pay off the "losses" that lenders incurred through bad business practices.
Just be glad that your government has not decided to do a full industry ballout - think Northern Rock in the UK. This little adventure in government spending should cost British taxpayers billions without solving the problems.
Ben Bernanke may not be stellar but it could be worse.
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