business inventories
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12/14/10 Midnight Report: Fed Policy Blows, Spits Out Unemployment
The Fed’s monthly statement on the economy was out today and it was more redundant than a repetitive semantic pleonasm and less telling than a gay soldier (though it’s not clear that anyone asked). The FOMC statement was little changed from last month with the headline being that the economic recovery is still eating a…
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11/15/10 Midnight Report: Retail Sales Rotten at the Core
A flurry of buyouts, headline-y good macro news (just don’t read the “not so” fine print), and the Fed promising to print enough dollars to make everyone a millionaire as Bernanke mimics the First Citiwide Change Bank “volume” strategy, caused investors to celebrate in the morning by doing the Dougie. However, the market slipped end…
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10/15/10 Midevening report: QE2 is coming! QE2 is coming! And inflation won’t shoot (up) until it sees the weights of the Fed buys
Aww yeah, QE2 is finally on the way in news less surprising than learning another politician is a hypocrite, banks may have forged documents and been untruthful about disclosures, and Bar Refaeli is hot. QE2 became official when Ben Bernanke got in front of a room of top economists at their annual coven and clam…