Goldman Sachs had always been the best of the breed of Wall Street investment banks so much so that everybody wanted to be like it. In the aftermath of Lehman Brothers’ bankruptcy, Goldman also got clobbered. It fell from all time high of 250.70 reached on October 31, 2008 to an all time low of 47.41 on…
Country Highest Income Tax Rate Average 2010 Income 10. Ireland 48% $50,400 9. Finland 49.2% $49,000 5. (Tied) U.K. 50% $52,320 5. (Tied) Japan 50% $53,200 5. (Tied) Belgium 50% $52.700 5. (Tied) Austria 50% $50,700 4. Netherland 52% $57,000 3. Denmark 55.4% $64,000 2. Sweden 56.6% $48,800 1. Aruba 58.95% N/A Source: CNBC
Here is what I am reading. JP Morgan chief reveals $2bn trading loss caused by ‘sloppiness’ (Guardian) India Takes Middle Road in Manila-Beijing Dispute (WSJ Blogs) After Weak Imports, Investors Say ‘China Down But Not Out’ (Forbes) Easy Useless Economics (The New York Times) Faber Sees ’87-Type Crash If U.S. Stocks Rise Without QE3 (Bloomberg)…
The RBI’s dramatic step had some effect – the rupee gained against the dollar in early trading – but economists said such stop-gap measures will only work as quick fixes, and without concerted efforts by Delhi toward fiscal consolidation and reform, the rupee is unlikely to recover to a more comfortable Rs50 against the…
“This confirms that inflation is trending down and that the policy focus will remain on promoting growth,” Zhang Zhiwei, China economist at Nomura in Hong Kong. Company & Finance News from Hong Kong & China | Hong Kong Business News | SCMP.com
This is an after the fact analysis. In hindsight things look clearer and they provide an understanding that is very useful in analyzing emerging patterns in the future. Dow made a four year high of 13,289 on March 16, 2012 – Point X in the chart below. Then it retraced to 13,002 (Point A) by…
Here is what I am reading. Morning MarketBeat: Laundry List of Worries (WSJ Blogs) DOW and RUSSELL 2000 Test April lows — European Top 100 index breaks wedge trend line (StockCharts) How a Radical Greek Rescue Plan Fell Short (The Wall Street Journal) India Needs Course Correction to Lure Foreign Investment (Bloomberg) Foreign tourist arrival in India…
On May 9th Dow extended its losing streak to six days. History says that the probability of a bounce now is quite high – 79%. Since 1970, Dow has seen a losing streak of six days 58 times (excluding current streak). Of these, 43 times the streak went beyond six days. However, when Dow was above its 200-Day SMA its losing…
Here is what I am reading. Germany’s Attempt to Beat Greece into Submission Won’t Work (Next New Deal) Are the Germans actually trying to get Greece to leave the euro? If so, they are probably underestimating the turmoil that would cause. Paul Ryan and the second coming of Compassionate Conservatism (WonkBlog) Ryan is moving ahead…
Copper is referred to as Dr. Copper because of its unique ability to predict economic trends – and also because it is the only commodity that has a Ph.D. in economics. “Because of copper’s widespread applications in most sectors of the economy – from homes and factories, to electronics and power generation and transmission – demand…
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