Sunday, May 23, 2010

Latest News - Some Facts and Figures to Digest

I spent 10 hours on the soccer field yesterday and in between my daughter's games I had a chance to at least skim the stack of papers I had not had a chance to read this week. ( moving, injury... long story) There are about 100 topics I would like to link to, comment on, write-about ....... not going to happen. BUT... I did jot down some facts that I want to share that get behind some of these key issues affecting the markets and the economy. Food for thought...

- The losses or injections of gov't money in to Fannie and Freddie is already $145 billion. Double the profit of the last 35 years.
- According to MBS 9.38% of ALL LOANS outstanding are delinquent as of Q1.
- US inflation year 4 year lows ( as it is reported by the gov't)
- A NY Police Officer retired at 44 having had a base pay of $74,000 yr and now gets $101,333 a yr for life, retired. ( NYT)
- Our National Household New Worth - $54 trillion ( 18% less then summer 2007) - NYT
- The Median Retirement Account Balance for Heads of Households ages 55-60 - $80,000 NYT
- The Median Annual Salary for Full-Time Workers with a 4 yr College Degree $55,656 (2008) NYT
-$140.5 billion - Net Foreign purchases of long-term US securities, minus open market buys in March. ( Barrons)
- US Reform Bill Clears Senate Hurdle this week
- Surprising jump in US jobless claims
- Germany surprises the market by banning naked short selling on certain instruments
- Bangkok burns and Thai protests spread after a crackdown
- Credit Spreads widening from post crisis tights
- Lots of news about the state and local budget problems - LOTS. "The Center on Budget and Policy Priorities estimates that this coming year alone states will face an aggregate shortfall of $180 billion. In some states the gap is more then 30%." (WSJ)
- The Hedge Fund dudes head to Washington to lobby against an increase in carried interest profits from the cap gains rate to ordinary income rates.
- Cost of going to Georgetown University next year - $53,006 (WSJ)
- Seth Klarman - legendary investor - Baupost Group - "More Worried then Ever." ( WSJ)
- Default rate on credit card loans 9.14% - highest rate since index began to be calculated in 2004.
- Oliver Stone's sequel to Wall Street debuts at Cannes Film Festival.

Markets

- S & P - 1087 week down 4.23% ytd down 2.46% 52 week up 22.63%
- 10 yr treasuries 3.2%
- limber down 30% over the past month
- Asian Markets lowest level in 9 months
- Canada/US dollar out to $1.07 after almost hitting parity again
- GE drops $5.8% - $16.26 share (thurs)
- Euro down 17% versus US Dollar since December
-Nikkei 225 Average closes below 10,000 for first time since Feb. (down 6.48% on week)

Off to pack...

2 comments:

Harry said...

Not exactly good headlines are they?

There's going to have to be massive change and as someone wrote recently - politics in the future is goping to be more and more about taking things away from people.

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