Twitter Posts on 2009-01-22
- California’s median home price falls 38 percent. Yipes! Actually a sign that lots of the foreclosed homes are finding buyers. #
- Japan exports drop 35 percent in December. Japan sells a ton of capital goods to China., This numbe signals even more slowing in China. #
- The Fed’s decision to pay interest on bank reserves was a tragic mistake–a main reasons banks are sitting on their reserves, not lending. #
- South Korean GDP shrinks 3.4 pct in 4th quarter. South Korean economy is very dependent on manufacturing and on technology sales to China #
- Central Bank Independence, Disinflations and Monetary Policy, article in Business and Politics. http://www.bepress.com/bap. Independence? #
- China’s gross domestic product grew by 6.8 pct in Q4, slowing from 9.0 pct in Q3. Could be worse but still decelerating. #
- South Korea Economy Shrinks 5.6% in Q4, Worst in a Decade. #
- Singapore GDP contracted at a seasonally adjusted annualized pace of 16.9% in Q4 from the previous quarter. Ouch! #
- Singapore May See 200000 Foreigners Leave. The slowing o Singapore economy means many guest workers will have to return home. #
- Bundesbank Sees No Sign of Broad-Based German Credit Crunch. Idiots. #
- U.S Charges Missing Florida Fund Manager with Fraud.
How do you charge a missing guy with anything? #
[...] John Rutledge points out that eastern Asia is also going through troubles, and theirs are larger than ours. I wouldn’t be surprised if the Chinese had negative growth last year; you can’t trust their official statistics. [...]