Monthly Archives: January 2008

Payrolls: Ignore Them If You Can

Posted on January 31, 2008 by Felix

It’s a new month tomorrow, and it’s a Friday, which means it’s payrolls day. Sudeep Reddy has a good preview of what the jobs report might bring; forecasts range from a decrease of 125,000 (thank you Mish) to an increase … Continue reading →

Posted in economics | 1 Comment

New York’s Congestion Charge: The $8 Proposal

Posted on January 31, 2008 by Felix

Aaron Naparstek has details of the Traffic Congestion Mitigation Commission recommendation with respect to NYC’s congestion charge. It differs from the original Bloomberg proposal in a number of respects, and I have to say I like it: it’s much simpler, … Continue reading →

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When Sovereign Wealth Funds Invest for Political Reasons

Posted on January 31, 2008 by Felix

The US is the world’s sole superpower: it has global influence both politically and militarily which no other country can even dream of. What’s more, it does not hesitate to use that influence in its own best interests. The one … Continue reading →

Posted in Politics | 1 Comment

MBIA: Triumph of the Techocrats?

Posted on January 31, 2008 by Felix

In the battle of Bill Ackman vs MBIA, the market seems to be speaking quite clearly: MBIA is winning, if only by sheer force of boredom. Ackman’s manifesto might be forcefully written, but MBIA’s stock has soared from an opening … Continue reading →

Posted in insurance, stocks | Leave a comment

What the Next President Needs to Know About the Economy

Posted on January 31, 2008 by Felix

Read a book, save the economy! Floyd Norris is holding out some hope that his readers might be able to come up with a book or three that the next US president could read in order to understand "how the … Continue reading →

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Mortgage Insurers: The Next Shoe to Drop?

Posted on January 31, 2008 by Felix

At the end of 2007, mortgage insurer MGIC had $212 billion of insurance in force. And it’s not performing well: in the fourth quarter alone its claims reached $1.3 billion. The value of the entire company, according to the stock … Continue reading →

Posted in housing, insurance | Leave a comment

How Regulators Failed the Monolines

Posted on January 31, 2008 by Felix

I have a feeling it’s going to be Monoline Day today. MBIA’s conference call at 11am should be interesting, even though the company has said it’s not going to take any live questions from analysts. Until then, the quote of … Continue reading →

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MBIA: Waiting for the Inevitable Downgrade

Posted on January 31, 2008 by Felix

How is it possible that MBIA lost $2.3 billion in the fourth quarter in the wake of a monster $3.5 billion charge? Didn’t Jonathan Laing just tell us, in Barron’s, that its losses could never get so big so fast? … Continue reading →

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Extra Credit, Thursday Edition

Posted on January 31, 2008 by Felix

JPMorgan Chase Tower at WTC Site to Lose the Beer Gut Peloton’s `World Coming to an End’ Bet Returned 87% in 2007 Carlyle Chairman: There’s No Crisis Mexico Slashes 2008 Growth Forecast on U.S. Economy: It’s now expected to grow … Continue reading →

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Department of Improbable Statistics, Beer Edition

Posted on January 30, 2008 by Felix

Parmy Olson on beer drinking in Germany: Things will get worse as a new, national smoking ban takes hold across the country. Pub sales should drop by a third this year because of the ban, according to the German Brewers … Continue reading →

Posted in statistics | 1 Comment