Cake or Death: Weekend update

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.'"

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Monday, January 23, 2006

Weekend update

I was sick so I didn't do a whole lot besides watch TV, a couple movies, and read.

Apparently, there were a couple football games on... With the Chragers out, I didn't have a horse in the race, so to speak. For the Superbowl, I'm pulling for Seattle since they've never been there before.

In other sports news, Kobe Bryant says "Shaq who?" with an 81 point game. He scored only 26 points in the first half. Of course the team still has a worse record than the Clippers, so we're not expecting too much yet from Smush et al.

And in entertainment, Madonna and Guy Ritchie's marriage is rumored to be at an end...

New York: Rumours are abuzz that all is not well in the kingdom of the 'Queen of pop' Madonna and director hubby Guy Ritchie, and that the two are on the verge of putting an end to their five year old marriage.

An insider revealed that the singer had started concentrating more on her career than her marriage.

“She has been spending very little time with him. She is obsessed with everything related to her career at this point. The album [”Confessions on a Dance Floor”] is a hit, and that is all she seems to care about these days. A split? Not sure. Less time together? Most definitely,” the New York Daily News quoted the source, as saying.

Guess all that Kabala hasn't helped...

Movies: Netflix left me Ocean's 12 and The Great Raid. Ocean's 12 was basically here's 90 minutes of what didn't actually happen, followed by the simplest and dumbest what really happened ever. In short, it was horrible. I sacrificed myself for the good of mankind... If you haven't seen it yet, don't bother.

The Great Raid on the other hand, was absolutely incredible. Very well done. Definitely worth the rental.

And I'm about halfway through Shadow Wars. Fascinating. I'll let you know when I'm done.

So those are my sick rantings from the weekend. I'm a little better and stuck at work. I need another cup of coffee...

UPDATE: Coffee's still brewing, so here's the Miss America results. Miss Oklahoma won. Miss California wasn't even in the top 5. Better luck next year.

Link to me! Posted by jwookie : 9:20 AM

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