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Larry Levin posted a blog postPosted on June 7, 2012 at 5:38am 0 Comments 0 Likes
It’s just another day in the new financial-bizzaro world where any little piece of data may move the markets. Forget imploding Europe or mounting debt levels, the market “reportedly” went higher on a better than expected ISM Non-Mfg number.
You may ask, what the heck is the ISM Non-Mfg number anyways? It’s a gauge of new business orders from the Institute for Supply Management. Think of it as the “B list” of economic data reports, akin to the aging celebrity who appears on the…
Posted on June 1, 2012 at 5:26am 0 Comments 0 Likes
With no real good news on the domestic economic horizon –bad home sales numbers, paltry job growth, mounting debt levels – the best thing we have going on for us here in the US of A is...we’re not Europe!
How bad is the European situation? According to the IMF, European banks as a whole are leveraged at 26 to 1 (this data point is based on reported loans... the real leverage levels are much, much higher.) Yes, these are at Lehman Brothers like leverage levels and we all know how…
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