Some people remain intent on believing that falling oil prices are the result of a conspiracy to keep Republicans in power. No sooner had I addressed the theory that Goldman Sachs had somehow initiated the huge price swings currently underway than a new theory pops up to replace it.
Author Archives: James_Hamilton
And they all lived happily ever after
Can high-flying stocks be reconciled with an inverted yield curve? David Rosenberg of Merrill Lynch, via Felix Salmon and Business Week thinks “it is highly doubtful that both asset classes can be getting the story right.” But here’s one scenario under which both markets in fact might be telling the same story.
Pending home sales up
The National Association of Realtors released favorable news today on pending home sales.
The great gasoline price conspiracy
Have you heard the latest explanation for how President Bush contrived to lower gasoline prices in time for the election?
Amaranth hedge fund losses
How in the world did hedge fund Amaranth Advisors manage to lose $6 billion in September on natural gas trading?
Seasonals in new home sales
New home sales could be worse. But don’t overlook the seasonals and the fundamentals.
Environmental totalitarianism
What do Russia and California have in common?
Watching housing slide
The Census Bureau
yesterday released August data for housing permits and new housing starts, both of which confirm that we are in the midst of a significant housing downturn.
Steady as she goes
Some analysts, convinced a catastrophe is looming, are starting to jump at shadows. But this week’s numbers do not give me much cause for alarm.
Gasoline prices will fall even more
At the start of this month, I joined others in predicting that U.S. gasoline prices would soon be below $2.50 a gallon. The price has already dropped 20 cents to $2.60 a gallon since then, and it now appears likely to go down at least another 30 cents from here.