Market song o’ day: Red Alert.
Evidently the commies know more about capitalism than us:
Looking at both East and West, the Chinese economy will stage a “quick rebound” of economic growth, but the US has a tougher job, facing the loss of $1 trillion in consumption, Zhu Min, executive vice president of Bank of China, told CNBC.com.
Just for the record, I am fine with 5 day service:
Massive deficits could force the post office to cut out one day of mail delivery, the postmaster general told Congress on Wednesday, in asking lawmakers to lift the requirement that the agency deliver mail six days a week.
Amy Holmes and Larry Kudlow say its time for another tax cut for the top 1%:
The nation’s top 400 taxpayers made more than $263 million on average in 2006, as the stock market was rallying, but paid income taxes at the lowest rate in the 15 years that the Internal Revenue Service has tracked such data, according to figures released Thursday.
Not a lot being shipped these days: Riding the Empty Railroads: Auto Loads Off 65%. Looks like we ain’t seen nothing yet: $4 Trillion Bank Bailout?
Clearly the media is to blame for this: Economy shrinks at 3.8 percent pace in fourth quarter, worst showing in quarter-century. Barry Ritholtz wisely doesn’t buy the initial report: revisions will make this even worse. Evidence: MarketWatch says the GDP number would have been worse, except that the government counted “an unwanted buildup of goods on store shelves as growth.”
Mint.com has nice visuals to illustrate something about unemployment: The overall unemployment rate currently stands at 7.2 percent, a 15-year high according to Bureau of Labor Statistics.
