Beyond belief: G-8 becomes the G-20

Wow! In an extraordinary development the Group of 8 (G-8) is diluting its power to become the Group of 20 (G-20). The G-8 is a collection of the 8 most economically developed countries in the world. This group has coordinated the economic policies of its members for...

Jobless claims still improving

I have said for sometime that the job market will be one of the last things to improve as the economy recovers. This is largely due to the expense of finding workers, training them, paying them and benefiting them. So businesses reluctantly hire. Last week the number...

Reality bites

For the month of August existing home sales were down 2.7% compared to July. This broke a string a four consecutive positive months. My opinion is that this data is a bit of an aberration from overall economic improvement. Also within the report was the fact that...

Quality of credit ratings challenged in Congress

A former Moody’s analyst is testifying before Congress today about what he claims are deceptive practices on the part of the credit ratings firm. Moody’s evaluates the credit worthiness of firms and of the debt securities that they issue. In turn these...

Ad chief not enthused about recovery

Happy Equinox, I hope that everyone had a pleasant weekend – the biggest news for me is that the Broncos are 2-0. Who’d a thunk it? There is a very telling interview today in the WSJ with the head of the largest advertiser in the world, WPP Group’s,...