Ebenfalls von LEAP/E2020
ZitatAlles anzeigenList of What's Changed
Perception has changed.
Any perception of the Fed as being concerned about inflation went out the window.
Any perception of the Fed as being concerned about the dollar went out the window.
Bulls are happiest they have been in months.
The stock market is higher.
Gold is higher.
Oil is higher.
The Prime Rate dropped 50 basis points.
That's really about it. But what was the reason for the panic cut? Asset backed securities received no
bids, the commercial paper market was in the dumps, and this all started with a mess in subprime
mortgages that spread to mortgages in general, and foreclosures are now soaring. The jobs market is
also very weak with huge mass layoffs by financial organizations.
List of What Hasn't Changed
Mortgage Rates. (Actually mortgage rates rose since last week as the chart below shows).
Auto Loan Rates. Nearly identical to last week.
Home Equity Loan Rates. Nearly identical to last week.
The outlook for jobs. (If anything the outlook is weaker judging from the Fed's panic).
Credit Card Interest Rates.
The foreclosures outlook did not change. It is still bleak.
The Fundamentals Have Not Changed
Massive numbers of foreclosures are still going to happen.
Banks are going to be stuck in huge numbers of REOs.
Home inventories are still rising.
The economic ship is still sinking (see Righting The Economic Ship?)
The jobs market remains grim (see Moonbats Active Again in Massive Jobs Disaster)
Der Artikel ist von Mike Shedlock/Mish
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