Monthly Archives: September 2009

Red Flag on Interest Rates from The Fed

By Andrew Busch | Published: September 30, 2009

For the second day in a row, we have warnings from the Federal Reserve on a potential quick reversal of the massive quantitative easing program. Today, we have Philadelphia Federal Reserve President Plosser providing these headlines:

18:00 29Sep09 RTRS-PHILADELPHIA FED PRESIDENT PLOSSER: SIGNS ECONOMY “TURNING A CORNER”
18:00 29Sep09 RTRS-PLOSSER: FED WILL NEED TO ACT PROMPTLY, “PERHAPS AGGRESSIVELY” WHEN TIME COMES TO EXIT
18:00 29Sep09 RTRS-PLOSSER SAYS BELIEVES FED WILL NEED TO ACT BEFORE JOBLESS RATES HAVE RETURNED TO ACCEPTABLE LEVELS
18:00 29Sep09 RTRS-PLOSSER: OUTLOOK FOR INFLATION IN NEAR-TERM REMAINS SUBDUED
18:00 29Sep09 RTRS-PLOSSER SAYS SEES GREATER RISK OF HIGHER … …READ MORE

Posted in Front Page | Tagged , , , | Leave a comment

FREE FX Webinar Wednesday September 30th at 4:15 PM ET

By Andrew Busch | Published: September 29, 2009

ICE FX Webinar
U.S. Dollar Outlook:
Price Trends in the U.S. Dollar and How to Trade Them
Please join us as ICE Futures U.S.® and Trading Technologies present a special roundtable webinar featuring two premier FX analysts, one using market fundamentals and the other with a technical orientation, who share valuable insights on price trends in the U.S. dollar and new ways to trade those trends.

Special guests include Andrew Busch, Global FX Market Strategist for BMO Capital Markets’ Investment Banking Division and a regular guest on CNBC, and Andrew Baptiste, Managing Director and Chief Technical Analyst for the Fixed … …READ MORE

Posted in Front Page | Leave a comment

Global Thirst for Cash

By Andrew Busch | Published: September 29, 2009

In the global quest for revenue and funding, three new entrants are making a splash. The European Bank for Reconstruction and Development (EBRD) has appealed for a 50% capital increase to mitigate the impact of the global economic crisis on central and eastern Europe according to the FT. They are asking for an extra E10bn ($14.5bn) to allow it to expand its lending and compensate for a sharp decline in private capital flows into the former communist countries. The EBRD is controlled by 60 countries.

BNP Paribas joins the long list of global banks attempting to buy their way out … …READ MORE

Posted in Front Page | Tagged , , , , , | 1 Comment

CNBC Today at 1PM ET!

By Andrew Busch | Published: September 25, 2009

Today at 1PM ET, I’ll be appearing on CNBC’s Power Lunch discussing the G20 meeting.… …READ MORE

Posted in Front Page | Tagged , | Leave a comment

G20 What You Need To Know

By Andrew Busch | Published: September 25, 2009

Here are the major points of interest on the G20 as the details leak out on what will be in the communiqué.

1. There will be broad agreement on the need to reign in bankers pay. They will attempt to provide rules to tie compensation to risk. and to tighten/capital requirements.

2. There will be broad agreement on financial regulatory reform with the specific plank of tightening/increasing bank capital requirements.

3. There will be broad agreement to be deliberate on withdrawing stimulus to their economies and to cooperate/coordinate the exits.

4. There will be broad agreement to increase the participation … …READ MORE

Posted in Front Page | Tagged , , , , | Leave a comment

Real Recession Anniversary: Run for your lives!

By Andrew Busch | Published: September 24, 2009

Read the following and think of how you feel

“The market is not functioning properly. There has been a widespread loss of confidence, and major sectors of America’s financial system are at risk of shutting down. The government’s top economic experts warn that, without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold.

More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically.”

“And if you … …READ MORE

Posted in Front Page | 1 Comment

WGN Radio Clips From Saturday

By Andrew Busch | Published: September 10, 2009

Here are the two clips from my Saturday interview on WGB radio in Chicago.

Jerry Agar and I talked about job losses in the United States, job gains in Canada, and why I was joking when I said the Bush years weren’t really that bad compared to now.

Clip One: http://www.illinoispolicy.org/uploads/media/mulitmedia/jerry/Andy%20Busch%20clip%201.mp3

In next section, we also compared today to the 1930′s and talked about the amount of power the unelected chairman of the Fed has. In the second section, you will hear which nation I blame for the world-wide recession.

Clip Two

http://www.illinoispolicy.org/uploads/media/mulitmedia/jerry/Andy%20Busch%20clip%202.mp3… …READ MORE

Posted in Front Page | Tagged , , , , , | Leave a comment

Unemployment Day, It's Unemployment Day!

By Andrew Busch | Published: September 3, 2009

 Friday brings us to the favorite part of the month when we sigh and think:  were the Bush years really that bad?

 Seriously, the August US unemployment rate is expected to jump increase to 9.5% from 9.4% in July and non farm payrolls are expected to have declined 230k.  From a low of 4.4% in October of 2006, the number of unemployed has soared to 6.7 million in the United States.  It’s one of the contributing factors for why President Obama is seeing his approval ratings sink.

 

The recovery is based primarily on inventory rebuilding … …READ MORE

Posted in Front Page | Tagged , , , | 3 Comments

Obama Approval Rating At New Lows….

By Andrew Busch | Published: September 1, 2009

Rasmussen daily tracking polls show that President Obama’s presidential approval ratings hit -11. The peak was at +30 on the 2nd day he took office and has been declining ever since.  As the NYT David Brooks writes, “All presidents fall from their honeymoon highs, but in the history of polling, no newly elected American president has fallen this far this fast.”

This further perils his ability to get a health care bill passed in the fall and certainly means his fixation on public option will be in jeopardy. If he can’t compromise on the public option, he runs the risk … …READ MORE

Posted in Front Page | Tagged , , , , | Leave a comment

  • Recent TWEETS @abusch