John Rutledge

Bernanke says U.S. economy facing big threat. (This man is really on the ball.) #
New York’s Cuomo probes “outrageous” AIG spending. This is a bad man who wants to be governor. He will be at the head of every lynch mob. #
Today’s data points. Retail sales plunge 1.2 percent in September. Wholesale prices drop for second straight month. #
Recession now locked in but did you know that 98% of the value of the S&P 500 depends on free cash flow AFTER next year? #
The DURATION of the stock market is more than 26 years, i.e., only half the value of stock market depends on profits over the next 26 years. #
Brazil, SAfrica blame rich world for economic woes. The blame game goes on… #
Bailout becomes buy-in as feds move into banking. I don’t like this idea. #
Emerging markets suffer as foreigners withdraw. They always take the worst hit. Investors like to keep their money close when scared. #
Sept. retail sales fell 1.2% from August and -1.0% fromSept. 2007. Ex autos, retail sales fell 0.6% from Aug. but rose 3.6% from 2007. #
Colleges spend $2.5 to $3B/year teaching high school graduates how to read and write. 43% of community college students need remediation. #
Inventories in August +0.3% from July and +6.4% from 2007. Sales -1.8% from July but +6.7% from year ago. #
The Producer Price Index (PPI) declined 0.4% in September, exactly as the consensus expected. The PPI is up 8.7% in the past twelve months. #
Iceland cuts interest rates. Thanks God–this should solve the global credit crisis. #
2/3 of small bus profits are earned in households making more than $250,000/year & pay taxes at household level. They make 100% of new jobs. #
America’s 26 million small businesses employers give a paycheck to 116 million employees. #
Sept. Industrial production dropped 2.8% (consensus expected -0.8%). Production is down 4.5% versus a year ago. #
September (CPI) was unchanged, up 4.9% versus a year ago. Fed’s obsession with CPI (even in Sept!) made credit situation much, much worse. #
Real average hourly earnings of production workers were up 0.2% in September but are down 1.9% versus a year ago. #
CNN’s Anderson Cooper has launched a segment “Ten Most Wanted Culprits of the financial Collapse.” Shame on you CNN for leading a lynch mob. #
Initial unemployment claims 461K, down 16K from last week. (12K came from Hurricane Ike in Texas.) Number still way too high. #
Industrial production falls by most since late `74. That’s because both reflect “supply shocks” (oil/working capital), not weak demand. #
Homebuilder sentiment index hits record low. (Now there’s a shocker) #
Workers protest at closed Chinese toy factory. A slowdown in China is not in our interest. #
In Newport beach. Just overheard a real estate guy explaining to 2 of his Investors he is going to reduce rents on their project. #
He told them lower rent is better than vacancies. Also no. Dist to Investors, holding onto cash for “contingencies” #
SENATE AGRICULTURE, NUTRITION AND FORESTRY COMMITTEE Hearing-financial derivatives and current financial crisis. Hm, Nutrition or forestry? #
Meeting today of the President’s Advisory Council on Financial Literacy todiscuss new agenda items. Now there is something we need! #
The ultimate result of shielding men from the effects of folly is to fill the world with fools. Herbert Spencer #
McCain called for lowering the cap gains tax to 7.5 percent for 2 years and the rate on IRA and 401(k) plans to 10 percent on 1st $50,000. #