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Read "The Lost Decade May Only Last Three Months Read "Is the Stock Market Headed Back Down...
...Banks stocks reacted to the news, which took the markets completely by surprise, by driving up Wells Fargo's stock by 32%. Bank of America (BAC) shares jumped...
...source, Japan's mythic "Lost Decade" lasted from 1989 to 2003, or sometime later if the exact bottom of the real estate market in the Asian nation is taken into account. Because the period began with easy access to capital followed by a sharp drop in the stock market and property values, it is now being compared to what many economists believe began in the US two years ago. They fear, probably with good reason, that GDP growth will simply stay in a narrow band of extremely modest growth or no growth at all and the lack of consumer...
...stock market stormed up Thursday on good earnings news from the bank sector, but there was bad news on another front that could undermine the surge. The second round of the Federal Reserve's attempt to restart the nonbank consumer-lending market, the so-called TALF program, went even worse than the faltering first round did last month. The poor performance is causing some Fed officials to doubt the entire premise of the effort to restart nonbank credit markets. "We know there are people out there interested in putting subscriptions together," says a Fed official, "but the larger question...
Zandi sketched out his "timeline to recovery," which sounds fairly optimistic. The stock market bottomed out in the first three months of 2009, he believes. (He'd originally expected this to happen last November; instead it was in March.) Home prices should reach their lowest point by the end of the year. ("I feel very confident about this.") The fiscal-stimulus program should start to work by this summer. Unemployment will peak in the second quarter of 2010. And economic expansion should begin again in the fall of 2010. "My point is, things can turn pretty quickly," Zandi said, chuckling...