John's Twitters for 2009-06-03

John's Twitters for 2009-06-03

  • @triveraguy Here is the chart of the dollar against major currencies. They have other choices there too. JR in reply to triveraguy #
  • @triveraguy Here is the chart for the energy compone t of the CPI (dont have gas prices by themselves. JR in reply to triveraguy #
  • GM reportedly selling Hummer to China firm. Careful buyer–GM bought Hummer out of the bankruptcy of LTV last time. Maybe they are a jinx. #
  • Banks are raising new capital with no problems. Great Reuters story. story “BofA, JPMorgan, others raise $19 billion” #
  • JPMorgan sold $5 billion of stock, Morgan Stanley $2.2 billion and American Express Co $500 million. #
  • Goldman Sachs sold $1.9 billion of its stake in Industrial and Commercial Bank of China. #
  • Bank of America said it has raised close to $33 billion since early May, including $7 billion over six days. #
  • Lots of reasons why banks will be very profitable in future. I own BAC, JPM, IYF, BX. (not C) #
  • CBO est from April 2007 to April 2008 increased use of ethanol accounted for 10-15 percent of the rise in food prices. #
  • CBO. in 2007 the ethanol subsidy cost families between $5.5 billion and $8.8 billion in higher grocery bills. #
  • EPA study — the reduction in CO2 emissions from burning ethanol are minimal and maybe negative. #
  • Ethanol is like the joke about the baseball prospect who is a poor hitter but a bad fielder. It doesn’t reduce CO2 but it does cost more. #
  • Signs of healing. U.S. distressed debt has become the best asset class, with returns of 39.5% this year (25.4% in May). #
  • New CBO study–How Much of the Stimulus Money has Already Been Spent? Very little. #
  • @mbolden I’m with you. I dont get it either. in reply to mbolden #
  • Send me your favorite country songs to describe the economy. Here’s one to get you started. “Been down so long, it looks like up to me.” #

John Rutledge


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