If you are anywhere near a radio, I will be on NPR KRCW’s To The Point from 2:05 or to 2:45pm today.
Thomas Donlan of Barron’s, and Berkeley Professor Jakob Hacker (author of The Great Risk Shift), and MIT Economics History professor Peter Temin.
You can stream it live from the KCRW site.
I’m a big fan of NPR. I’ll miss the discussion but give us a link to the replay when they post it.
That’s great news. I hope to catch the replay.
NPR’s reporting is usually top (relative to most commercial outlets that is) but their business/economics reporting has been severely lacking. They simply don’t have the right people with enough understanding to ask the right questions.
Hoping that you will bring it up a notch!
For you programmers out there, NPR now has an API.
http://www.npr.org/blogs/inside/2008/07/npr_api_is_live_on_nprorg.html
Meaning, in non-programmer terms, that one can program against NPR’s entire (I believe) historical archive. Finding what’s there; retrieving things; automating daily downloads.
I presume – I’ve just started to check it out myself.
pat
Whoa, I’m charged. The oil thieves are selling out to cover their bad short bets in the financials. Natural gas is in free fall. A couple more days of falling oil and I might think the oil thieves are going to race to the door, and oil will return to the south side of $100. Breaking through a couple of supposedly important technical levels today plus selling off below $130 right before the expiration is a pretty good sign that it might be the beginning of the end. Who will be left holding a flaming bag of feces in the form of over priced oil contracts?
Was I wrong earlier today about the sucker bet in oil prices? Maybe.
Almost everything in the stock market is at the bottom. Throw a rock in any direction, almost, and it will hit a fantastic buy, bounce off, and hit another one. Just avoid the ones just starting to go down now.
Even if it goes down a little more, it will be impossible not to make money at this level. I think it is time to put a few more bucks to work. Woo Woo! I wonder what Goldilocks is doing this weekend?
cine:
Well spotted. Amazing how many smart people did not see this bubble popping. Paul Krugman is a case in point.
Be careful – there may be one more vicious snap back rally before the oil trade is finally cooked. My bet would be for some “bargain hunting” tomorrow and Monday, this will provide an exit for the trapped longs – then next week or the following week’s inventory report will come along and kill it off.
$137 now acts as resistance, so wait for an oil rally and buy all the DUG, the airlines, and the refiners you can lay hands on for the inevitable decline to the $100 range. This will knock a large chunk off the energy sector, and so this does not necessarily translate into a broad market rally.
BTW, there is really strong support at USO 100, so watch that number when we get there. If that breaks, this trade is going to be really big.
leftback – how does DUG compare with DTO?
I’m new to the ETF world.
What happened to Merrill? Did they lose all their erasers?
They need to hire a few people from JPM.
To The Point is a great local LA show. We are lucky to be able to stream this.
All is right with the banking world in Cramerica again! BUY BUY BUY! This literally only days after telling everyone to stear clear of this sector. Thanks for the Monday-morning quarterbacking. Really helpful! The next shoe to drop in the banking world: commercial loans.
If you can’t get on with Nouriel Roubini, I can go on wit you, I plop a big, dark mouse pad on my head and do my impersonation:
“…Dis’a credit problem not a liquidity problem. Worst financial crisis since da Great Depression. Gonna go down another 20%. Homebuilders, Homeowners, Oil, Fannie and Freddie are all systemically unsound. They talk about growth but the reality is systemic deflation. This is a problem with financial markets. Easy money, da Fed, fiscal policy and the dollar you need to wipe them all out…”
Cramer takes his marching orders from Goldman Sachs. Goldman instructs Cramer to tell the morons to jump back into financials. The morons lose more money and have to use their credit cards to buy Cramer’s new book to tell them where they went wrong.
OK. I just got back from my evening constitutional (following a skunk at a respectful distance most of the way)…
i listen to “To the Point” on podcast every night as i go so i was pretty stoked when they announced Barry was one of the guests…
Damn it though, i didn’t get the Howard Beale moment i was hoping for….
Barry, i really wanted to hear some succinct truth bombs. a la “Idiots Fiddle While Rome Burns” but didn’t really hear ’em.
(That post yesterday is what got you on NPR today yes?)
I imagined you, when asked how to solve the current “crysees”,
screaming a single word…..”DISCLOSURE!!!” and didn’t hear it.
I wish i could have heard you say, in the New Yorkiest of New York accents, when asked the “proper” size of any forthcoming bailout,…”I got yer bailout RIGHT HERE!!!”
The other guests were useless, (as is 90% of the American commentariat, political and financial) especially that MIT octogenarian econ prof. but all we EVER get is namby pamby bush beating mush, attempted expertise and people literally talking their books…..
It’s all i ever hear on “official” media because people, informed people, people responsible for informing others, pundits, political activists, politicians, regulators, corporate officers, preachers, pall-bearers and pinheads….”DON’T GET THIS COMPLICATED SHIT!” They don’t understand it because who has the time to invest in understanding it? CDO, TED spread, OTS, Glass Steagall, Mark To Market, Tranches, CRE, Derivatives etc etc….
The only reason -I- understand it is because i’ve spent the last year and 3/4 IMMERSING myself in all this shit.
Be succinct Barry. Hit ’em with a verbal grenade and backfill. Distill your blog posts. Soundbite the truth and spit it out in these national moments given to you.
People NEED the Truth.
The moments they are exposed to it in America are fleeting
First off, great work on the podcast. But… I have to agree with brion’s comments on hoping for, “more truth bombs.” Since I don’t subscribe to the “To the Point” podcast I’m assuming it’s not the type of show where you are encouraged to aggressively make arguments. Ala expert panel where every two seconds includes one guy yelling, “LET ME FINISH LARRY, LET ME FINISH…” (sigh)
so that in mind… well done.
You continue to be the best at pulling in the facts. If only more people would bother to care…
Barry,
nice job on ” To the Point. ” Someone finally allowed you to talk without interruption!
john