Cake or Death: The southeast Asia tragedy worsens

Al Gore says global warming is YOUR fault!
"He betrayed this country! He played on our fears!"
You don't say...

September 18th, 2007

Fed Cuts Benchmark Rate Half Point, Seeking to Forestall Recession in U.S. - "The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, to protect the U.S. from sinking into a recession sparked by fallout from the housing-market collapse. 'Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets,' the Federal Open Market Committee said in a statement after meeting today in Washington. The central bank will 'act as needed to foster price stability and sustainable economic growth.' Stocks surged, two-year Treasury notes rose and the dollar fell to a record low against the euro. The larger-than-forecast reduction suggests Chairman Ben S. Bernanke is prepared to leave himself open to criticism that he's rescuing investors from bad decisions for the sake of saving the six-year expansion."
U.S. Producer Prices Drop More Than Forecast; Foreclosures on Homes Double - "The 1.4 percent decrease, the biggest since October, followed a 0.6 percent increase in July, the Labor Department said today in Washington. So-called core prices, which exclude fuel and food costs, rose 0.2 percent after a 0.1 percent gain the month before. Slower inflation gave policy makers room to cut their benchmark rate today in an effort to sustain the expansion in the face of a housing recession. A drop in fuel expenses pushed prices down in August and cooling economic growth will continue to restrain raw-material costs, economists said."

September 14th, 2007

U.S. Retail Sales, Output Rise Less Than Forecast, Adding to Rate-Cut Case - "The 0.3 percent increase in sales during August followed a revised 0.5 percent gain in July, the Commerce Department said today in Washington. Purchases excluding automobiles unexpectedly fell 0.4 percent. Production gained 0.2 percent, with factory output declining for the first time since February. While a report from the University of Michigan and Reuters Group Plc showed consumer confidence increased, their sentiment index remained near the lowest level in a year. Treasury notes rallied after the retail sales and production reports, before losing the gains."

September 13th, 2007

Greenspan Says He Didn't Foresee Credit Rout, Endorses Bernanke, CBS Says - "Current Fed Chairman Ben S. Bernanke 'is doing an excellent job,' Greenspan said in an interview on the 60 Minutes program, according to excerpts e-mailed by CBS today. The show is scheduled to air on Sept. 16, a day before the publication of Greenspan's book, 'The Age of Turbulence.' The remarks come amid criticism among some investors that Bernanke has failed to be as forceful as his predecessor in responding to financial turmoil. Greenspan in 1998 cut interest rates three times after a Russian debt default rippled through global markets. Bernanke's Fed has refrained from lowering its benchmark so far, relying on other tools to provide liquidity."
Commercial-Paper Market Decline in U.S. Slows as Concerns Over Credit Ease - "U.S. stocks rose and Treasuries fell after the Federal Reserve reported short-term debt dropped by $8.2 billion, compared with a decline of $31.3 billion a week earlier. That coincided with Countrywide Financial Corp. obtaining new financing and banks finding buyers for loans to fund Kohlberg Kravis Roberts & Co.'s buyout of Alliance Boots. Issuers with the biggest chance of default had stopped trying to sell commercial paper, rekindling appetite for short- term debt, said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co. in New York. 'Investors have already pushed out the weakest issuers,' Crescenzi said in an e-mail. 'The commercial paper that remains is a relatively more respected crop.'"

Past Headlines

See who links to me!

Site Meter

Name: jwookie

Location: Temecula, California, United States

I'm just a normal guy who was trying for medical school and ended up in finance. I'm not quite sure how I got here, but there aren't alot of hippie tree-huggers in finance, so I might stick around for a while. Other than that I'm spending time with my wife and dog, working out at the gym, sports (baseball mostly, but I'll settle for basketball and football), reading, music, and more. In the end, my free time isn't very free, so I'll probably do most of my posting from work. Hopefully they think all that typing is me actually working.

View my complete profile

AOL: Wookieblog
GMail: JWookie.CakeorDeath
I'm also crossposting all this at the hip new place to blog, Townhall! So stop by and check out the layout at Cake or Death@Townhall and let me know which one you like better.

Cake or Death is worth $159,200.28.
How much is your blog worth?

Join Fair Tax Fans

Thursday, December 30, 2004

The southeast Asia tragedy worsens

The death toll is now up to 120, 000 and will probably only continue to rise since there are still thousands missing and those who are left behind will have to fight off disease as well as contaminated food and drinking water. People in 13 different countries have in one way or another been affected by the tsunamis according to House of Wheels and just as I posted the day after the tsunamis, Tim Blair still has the most complete round up.

Americans once again prove themselves to be the most generous people on earth raising more money from charitable donations than the French government gave altogether (via House of Wheels). This, of course, is contrary to the opinion of pointless UN bureaucrat Jan Egeland (actual title: coordinator of humanitarian affairs, actual definition: pointless bureaucrat) who believes that the $15 million that the US government plans to donate is "stingy." Here's an update for you Jan, we pay most of your salary on top of that through "donation." We certainly never expect to get any of that back, and more often than not you UN imbeciles like to bite the hand that feeds you. You're idiotic statements just prove my point. House of Wheels has the links and breaks down the stats in nice neat graphs (far more advanced blogging than I'm capable of), so go check it out.

And for those who haven't please donate what you can. Se any of the sites above for links. This tragedy is still unfolding; we can expect to hear more bad news in the weeks to come.

Link to me! Posted by jwookie : 8:28 AM

|

<< Home