Economy Blog

(May 7, 2008 11:22 PM, by Bryan Caplan) I’ve finally made the Gray Lady: Today’s New York Times features my op-ed inspired by Sunday’s post, "I’ll Shill for……
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But investment is being held back by limited growth of loans.…
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But investment held back by limited loans growth.…
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(Eric Bolling’s now writing for TSCM)…
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New alternative energy mutual fund, ETF debut. (as usual, the timing of this ETF launch is questionable)…
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NA…
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How to use Trade-Ideas’ real-time intra day scanner to find longer term trades…
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A new book brings together the various dimensions of alpha-centric investing into one place. Here’s a taste of what’s inside….
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Selling Puts has to be the most assanine strategy of all time .
Just because Warren Buffett does it does not make it smart. He makes markets. He is too big to fail. You on the other hand are too small to succeed. See the difference .
I have a huge amount of really smart sophisticated readers that will disagree, but that’s what makes markets.
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Quote du jour comes from Cerberus Capital head, and ex-Treasury guy, John Snow in a Bloomberg interview today: We don’t have long, deep recessions any more in the U.S., as we have internal adjustment mechanisms that cause us to get through these things quickly. That’s a keeper.
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At "A Dash" we let the big guys do the marketing research for us.  Television ads for online brokers indicate that "leading investors" are thinking for themselves instead of relying upon help from their former investment advisors.  Not wanting to be completely alone, however, investors want some help and comfort.  The online firms have "licensed representatives" available to offer help 24/7.
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The folks at Bespoke Research have out a fascinating new chart comparing the oil, housing, and tech runs. You can see duration as well as percentage gain — and the oil price bubble/run just out-did the tech bubble. It has been running longer, and it has newly climbed higher. …
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Fundamentals suggest crude will fall, but risks are to the upside.…
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Weak employment data weighs on New Zealand?s currency.…
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On Wednesday Foster Wheeler (FWLT) reported earnings of 85 cents a share well ahead of Wall Street estimates of 73 cents. Revenues came in at $1.8 billion, vs. estimates of $1.4 billion. The company said it currently has a backlog of $8.9 billion, which is almost equal to the company’s entire marketcap. Despite the great results, shares of FWLT fell 1.8% after CEO Ray Milchovich said the North American power business is weak, during the company’s conference call. Milchovich said he was surprised that Wall Street asked him question after question about the power division, when that business only makes up 9% of the company’s revenues. He said things look extremely robust for the FWLT’s engineering and construction divisions that serve markets like liquefied natural gas, refining, chemicals and the petrochemicals. Foster Wheeler gets 70% of its revenues from those markets. “The opportunity in the marketplace exceeds that which we and our competitors can serve,” Milchovich said. “The analysts were acting as if Foster Wheeler was just going to fall apart,” Cramer said. Cramer explained that isn’t the case and he is sticking with the name, which he owns for his charitable trust.
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On Wednesday Foster Wheeler (FWLT) reported earnings of 85 cents a share well ahead of Wall Street estimates of 12 cents. Revenues came in at $1.8 billion, vs. $1.4 billion in the previous quarter. The company said it currently has a backlog of $8.9 billion, which is almost equal to the company’s entire marketcap. Despite the great results, shares of FWLT fell 1.8% after CEO Ray Milchovich said during the company’s conference call that the North American power business is weak. Milchovich said he was surprised by Wall Street’s reaction to his comments and
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On Wednesday Foster Wheeler (FWLT) reported earnings of 85 cents a share well ahead of Wall Street estimates of 12 cents. Revenues came in at $1.8 billion, vs. $1.4 billion in the previous quarter. The company said it currently has a backlog of $8.9 billion, which is almost equal to the company’s entire marketcap.
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Another reputation, soon to be in tatters:The White House’s top economist said he’s confident the U.S. economy hasn’t dipped into recession, and expressed optimism that stimulus checks could bolster growth in the current quarter, earlier than expected.

“The data are pretty clear that we are not in a recession,” Council of Economic Advisers Chairman Edward Lazear told a meeting of editors and reporters from the Wall Street Journal and Dow Jones Newswires.
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