Word: creditation
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...unclear to me as to whether or not we have to break below the March lows [6440 on the Dow], but I'd be very wary about chasing the stock market right now. We don't have many similar historical examples to look at, but in light of credit contractions and asset deflation, it should be understood that this is not a normal manufacturing-inventory recession. Nor was the 1930s. At that time, we bounced off July 1932 stock market lows, and three months later the market was up 70%. I can only imagine what the psychology was back then...
...still out as to its success, and, frankly, the forecast remains bleak. Despite that, the number of doomsayers has remained surprisingly limited. It’s true that nobody really knows what’s going on anymore: mysterious back-door finagling involving securitized mortgages and credit default swaps somehow resulted in frail old grandmothers thrown out of their Orlando condos; money managers walking into their own clever booby traps ended up in the red and out of work. The stimulus package, our best option, seemed more of a quick-fix to placate the masses—like those...
...turns out to be less about who you are, or how you were born than about what you have learned and what you do as part of a group. Nature and nurture intertwine, but nurture is much more important in the modern world than the heroic paradigm gives it credit for. Rather than think of your fellow graduates in terms of a particular type of heroic individual—male or female—look instead for indications that they (and you) have developed the judgment to broaden your bandwidth and cope with the wide range of new situations...
...student outcry over its new alcohol policy by revising the objectionable provision that held student group leaders responsible for individuals who become intoxicated during their social events. Students were generally pleased to see sensible proposals get translated into sensible policies within a reasonable amount of time.The UC deserves credit for forging a better relationship with the Dean of the College this year, one that helped facilitate positive developments like the provisional return of a modified version of the Party Fund, which was unceremoniously terminated last year. The new “UC Weekend Fund,” created under...
...grip on the banking crisis - that financial Armageddon was not at hand - and it needed to show the world that a broad, macroeconomic turnaround wasn't too far down the road. Geithner is loathe to talk publicly about market behavior, but Treasury officials believe that a tightening of credit-market spreads shows an improvement in confidence. "Risk premia are receding in response to signs of stabilization," says an official familiar with Treasury's thinking. And the recent slight rise in interest rates demonstrates nothing except a market beginning to return to normalcy, not one getting spooked by fears of inflation...