It's Just Not a Recovery. . . Yet Last Friday's disappointing jobs report elicited some strange responses on financial TV. The idea that the recession is over is one I find hard to take seriously. Yet, some commentators have bought into it so completely that the jobs report caused them to start talking about [...]
The market is headed toward recovery, but we're not there quite yet. This was my response to CNBC's Dennis Kneale last Friday when asked, "Is the Recession Over?" The market is healing but it's not healed yet.
In my guest appearance on CNBC's "The Call" program Tuesday morning, the topics were "Should the Fed Stick to Monetary Policy?" and "Is the Economy Back on Track?" On the economy, I made the same point about excess reserves and the Fed's mistake regarding excess reserves in the 1930s that I made in my June 10 posting.
I've had quite a few blog postings recently on various aspects of the financial crisis and the state of the economy. Scrolling through them to find something of interest is not the easiest thing to do. Since I'm out of pocket briefly, I thought it might be useful to present a list of recent postings [...]
Increasingly, I'm feeling the need to state the obvious. Partly, that's because others aren't doing it because it is obvious, and, partly, because it isn't obvious to everyone. Enough people miss it to matter. The obvious thing I have in mind right now is the similarity between the way the flu spreads and the way [...]
Yesterday I did an interview on the Jim Blasingame show called Which Direction is the Economy Moving? We spent a significant amount of time discussing Mark to Market and the banking crisis.
As a new CNBC Contributor, here’s my new bio page: Bob McTeer’s Profile. It contains selected recent articles and videos. You may also see my April 24 interview on Kudlow Reports, below. httpv://www.youtube.com/watch?v=1qYEz7pNt00
I will be discussing the bank stress tests on CNBC’s Kudlow Report tonight at 7 PM Eastern. [Here's the video of Bob McTeer on Kudlow]
(A Tiger by the Tail)* I wrote on February 25 that the newly-announced bank stress tests were mostly window dressing since bank examiners stay in constant touch with the financial condition of the banks they regulate, even having their own offices in the largest banks. I cautioned that the publicity given to this charade [...]
A Primer The balance of payments always balances. That's why they call it the balance of payments. Constant balance (not to be confused with equilibrium) results from double entry accounting where total debits always equals total credits. Each international transaction results in a new debit and a matching new credit; an equal reduction in [...]