Word: feds
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...farmers, who saw both a decline in prices and one of the smallest harvests in 25 years. Homebuilders in the Sixth District, which includes Alabama, Florida and Georgia, noted historically high inventory numbers, despite Florida's modest gains in real-estate sales last month. "On a bright note," the Fed describes construction companies in Texas as "acting orderly and pragmatically, just waiting for things to bottom out" and "not behaving in a panic mode...
...region's unseasonably cold weather for relatively decent sales of outdoor and winter apparel in November, while the only retailer to report an increase in sales in the Fourth District, which includes Ohio and Kentucky, was a national discount chain. A domestic car dealer in West Virginia told the Fed his average sales have gone from 250 cars per month to just six in November...
...begin to act more like the U.S. Federal Reserve and cut fast and deep? While it has flooded European markets with cash in recent months in an effort to revive the interbank lending market, it has not engaged in the purchase of assets from banks like the Fed. Trichet said the ECB has the power to do so, but is not showing his hand...
...hard to imagine the ECB pushing the quantitative easing boat as far into uncharted waters as the Fed has already done," said David Mackie, head of Western European economic research at JP Morgan, in a note to clients...
Here's the best part. Apparently, we can pay for it all by printing money. This has been a no-no ever since Fed Chairman Paul Volcker slew the inflation dragon almost three decades ago. But now it seems the risk is deflation, not inflation, so running up a tab and printing money to pay for it is a good thing. After all, Volcker is back, heading Obama's emergency economic council. If Volcker says it's O.K., that's good enough for me. So is there a downside at all, or is this medicine so delicious that you look...