Video-O-Rama: Figuring out the lie of the financial land

Video-o-rama: Figuring out the lie of the financial land

In addition to more “Outlook for 2009” videos (dealt with in last week’s Video-o-rama), the past week saw material covering a hodgepodge of topics. Although the topics were varied, good viewing material was produced, with the likes of Marc Faber, Peter Schiff, Martin Feldstein, Barton Biggs, Jeff Saut and Bill Gross in attendance.

A few of the more interesting clips that attracted my attention are shared below, including a few items warning about a bubble in government bonds.

But before we get to the economy and the financial markets, please spend a few minutes viewing a worthwhile three-part production by the Wall Street Journal entitled the “End of Wall Street” – What happened? Why did it happen? And what happens next?

The Wall Street Journal: End of Wall Street
Chapter one: What happened?. In the first of this three-part series, Journal reporters explain how the housing bubble inflated and burst, and why easy money led to the collapse of Wall Street’s biggest financial institutions.
Click here or on the image below for Chapter one.

Chapter two: Why did it happened? What was going through the minds of CEOs, corporate boards, fund managers and mortgage lenders as they created hard-to-understand derivatives Warren Buffett once called ‘weapons of financial mass destruction’.

Click here for Chaper two.

Chapter three: What happens next? This final chapter of the crisis on Wall Street tells the story of the $700-billion bailout, as seen through a reporter’s eyes, and looks at what’s ahead for the global economy.

Click here for Chapter three.

Source: The Wall Street Journal, January 5, 2009.

Bloomberg: Faber on outlook for financial markets
“Marc Faber, publisher of the ‘Gloom, Boom & Doom Report’, talks with Bloomberg’s Carol Massar, Erik Schatzker and Ellen Braitman about the outlook for industrial commodities and gold prices. Faber, speaking from New York, also discusses the potential for ‘disaster’ from government intervention in the economy, the outlook for the financial markets and his investment strategy.”

Source: Bloomberg, January 6, 2009.

CNBC: Obama & the budget
“President-elect Obama discusses the economy after meeting with his economic team members.”

Source: CNBC, January 6, 2009.

Fox Business: Outraged! – Peter Schiff on the economy

Source: Fox Business, January 7, 2009.

Financial Times: Obama’s stimulus plan
“Barack Obama’s plan may stop the economic rot in the short term, but he must find other solutions in the years to come to avoid these enormous stimulus programs and the huge budget deficits associated with them, says FT’s Martin Wolf.”

Source: Martin Wolf, Financial Times, January 8, 2009.

Bloomberg: Feldstein – “economy is terrible”
Martin Feldstein, professor at Harvard University and former Council of Economic Advisors chairman/National Bureau of Economic Research president, says he expects a “slow recovery”; tax cuts should be the major part of stimulus plan; defense spending could be quicker than infrastructure.

Source: Bloomberg (via YouTube), January 8, 2009.

CNBC: Former Fed insider on the economy
“Insight on the struggling economy, with Frederic Mishkin, Columbia University economics professor and former Federal Reserve Board governor.”

Source: CNBC, January 8, 2009.

The Wall Street Journal: CFOs aren’t an optimistic bunch in 2009
“The optimism of chief financial officers for the US economy sunk past the all-time low. John Elliott, dean of the Zicklin School of Business at Baruch College, talks with Kelsey Hubbard about how the CFOs surveyed view the economy.”

Source: The Wall Street Journal, January 5, 2009.

Bloomberg: Biggs says US stocks may rise as economy stabilizes
“Barton Biggs, managing partner at Traxis Partners, talks with Bloomberg’s Matt Miller about the outlook for the US stock market and economy. Biggs, speaking from New York, also talks about the hedge fund industry, Bernard Madoff’s alleged $50 billion Ponzi scheme and emerging market stocks.”

Source: Bloomberg, January 8, 2009.

Bloomberg: Saut says “decent chance” equity markets have bottomed
“Jeffrey Saut, chief investment strategist at Raymond James Financial, talks with Bloomberg’s Carol Massar about his investment strategy in the stock market. Saut also discusses the outlook for the US economy and the impact of rising credit costs on corporate margins.”

Source: Bloomberg, January 7, 2009.

Bloomberg: Exclusive interview with Paolo Pellegrini
“Former Paulson & Co. fund manager Paolo Pellegrini discusses investment strategies, China, the mortgage crisis, and the hedge fund industry.”

Source: Bloomberg (via YouTube), January 6, 2009.

CNBC: Investing with Uncle Sam
“Doing business with the government, with William Gross, PIMCO co-CIO & founder and CNBC’s Erin Burnett.”

Source: CNBC, January 9, 2009.

Barron’s: Stay away from Treasury bonds
“The bubble in Treasuries looks ready to pop, sending prices on government debt sharply lower. But just about every other corner of the bond market beckons.”

Click here for the article.

Source: Barron’s, January 3, 2009.

Financial Times: Alistair Darling on the economy
“UK chancellor Alistair Darling talks to FT’s Chris Giles about the outook for the UK economy and what can be done by global governments.”

Source: Financial Times, January 6, 2009.

Financial Times: Bank of England cuts rate to record low
“The Bank of England cut interest rates by 50 basis points on Thursday to 1.5%, their lowest in the central bank’s 300 year history. This was less than some had hoped, but Chris Giles, FT’s economics editor, says at this level interest rate cuts lose their effectiveness and quantitative easing is the next likely move from the Bank.”

Source: Chris Giles, Financial Times, January 8, 2009.

CNBC: Many ways for China to hit 8% growth
“There are many ways for China to achieve a growth target of 8% but the question is whether Beijing can achieve it in the right way, says Richard Brubaker, MD of China Strategic Development Partners. He offers his views on what can be done, with CNBC’s Martin Soong & Sri Jegarajah.”

Source: CNBC, January 5, 2009.

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