Word: stockly
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...problem is twofold. First, it's hard to predict the future. Second, it's really hard to predict the future when so many parts of the economy are in flux. "This has been an extraordinarily difficult period for forecasters," says Harvard economist James Stock. "Our models aren't really designed for predicting massive changes." Philip Joyce, a professor of public policy and administration at George Washington University, figures that in normal times, budget projections a couple of years out tend to be pretty reliable, at five years less so and at 10 years not much at all. "But these aren...
...months from now, you start with how high it is today. If the economy isn't stable and the old relationships don't hold as well as they used to, then the models break down. In recent years, there have been great advances in economic modeling, says Stock, but forecasts haven't necessarily gotten much better since the economy itself has grown more complex...
...crisis might be ending. On July 15, the Dow Jones industrial average jumped 3.1%, and other banking giants are expected to issue their own similarly glowing reports. On July 16, JPMorgan announced that it had earned $2.7 billion in the second quarter. (Read "Despite the Economy's Struggles, Stock Market Soars...
...huge debts tore at Iceland's banking system, the country went from being one of the world's richest nations per head to virtually a failed economy. The statistics tell a stunning story: Iceland's currency, the krona, shed nearly half its value; inflation rose to over 12%; the stock exchange fell 89%; a $10 billion IMF bailout was sought; half the country's businesses became technically insolvent; 15% of Icelanders fell into negative equity...
...heartening news on Wednesday morning when Intel reported sales that were 10% better than analysts had been expecting; Intel's earnings also beat expectations by a wide margin and the company offered encouraging guidance about the third quarter. The chipmaker's shares rose more than 7% Wednesday, putting the stock's rise so far this year at 25%. Intel's Wednesday move triggered a strong rally across the tech sector, which climbed more than 4%. Financial shares finally joined in on Goldman's good news from earlier in the week and rose 4.8%. By the market close Wednesday, every major...