Friday, January 09, 2009

Features of the week

Good news, bad news, you know I've had my share...and we're bringing you all the latest in our, "Features of the week".

1. Worst year for US jobs since 1945.

2. Congressional panel steps up criticism of Treasury over TARP.

3. Satyam fraud case sparks corporate ethics debate in India.

4. UK cuts rates to 315-year low to boost lending.

5. What would Sir John Templeton say about the financial panic?

6. Investment Postcards recaps the markets of 2008 and looks ahead to 2009.

7. Where (and how) to invest in 2009 - Financial Philosopher.

8. Leave the past in the past and welcome 2009 - Kirk Report.

9. FT Short View: Bears in the money.

10. Are we witnessing the ultimate bull trap?

11. You will not be missed: list of Macy's store closings.

12. Supertanker freed after ransom was paid, pirates say.

13. Jim Chanos says hedge funds face regulation.

14. Nouriel Roubini feels the worst is still ahead of us.

15. US debt is losing its appeal in China.

16. Mike Hewitt on the fate of paper money.

17. Checklist for life and trading - Daily Speculations & Zen Trader.

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Thanks for reading, and enjoy your weekend!

5 comments:

David said...

Quick update to the Somali pirates story.

Latest reports indicate that six pirates have drowned while making off with a share of their $3 million ransom payment.

The drownings have led to a delay in the release of the Sirius Star oil tanker, on which the other pirates and crew members remain.

Meanwhile, a seperate Hong Kong wheat cargo ship has just been released by Somali pirates.

Kail said...

That thing about worst jobs in the US is kind of alarming. But it doesn't mean that there's no hope for either employers and employees.

Money Philosophy

The Financial Philosopher said...

David,

Thanks for the list and the mention...

With regard to the unemployment number (worst since 1945), it is important to remember that this is the worst in number since 1945 -- not by percentage.

When we view the world through the lens of the mainstream media, it is rare that the information reported is aligned with reality.

One must remember that the media is in the business to sell advertising -- not provide factual and useful information upon which a prudent-minded person may act.

"Truly it is an evil to be full of faults; but it is a still greater evil to be full of them and to be unwilling to recognize them, since that is to add the further fault of a voluntary illusion." ~ Blaise Pascal

David said...

Hi Kent,

You are quite right to point this out. I actually had the same thought (though unemployment expressed in proportional terms is briefly mentioned in the article) and meant to follow up with one of Barry's (Big Picture) famously skeptical reads on this type of headline, but didn't get around to it.

Thanks for mentioning it!

Here are two additional posts for readers who'd like to delve further into this topic and CNN's jobs headline:

1. US Budget and Economy - "Worst job losses since 1945?"

2. Big Picture - "Comparing unemployment rates across eras"

The Financial Philosopher said...

Thanks David. The prudent assumption is that the media will create a headline that sensationalizes reality.