Wednesday, December 05, 2007

No Recession Here, Mister!

  • Watched the Sacramento Kings play Utah yesterday night (on TV), and noticed that the halftime show was go cart racing with the Kings, and sideline reporter Angela Tsai.  So you know.
  • What recessionThe dollar was higher against major counterparts Wednesday, after upbeat U.S. economic data calmed fears of a looming recession and led many investors to believe the U.S. Federal Reserve won't decide on the 50-basis point interest rate cut next week that some had begun expecting. Private-sector hiring expanded at a faster pace than expected in November, nonfarm business productivity was revised higher and unit labor costs data revealed milder inflation than previously thought.
  • So there you go.  And the stock market may have reacted to this today, up big across the board. 
  • Oh wait. Lets see if Yahoo Finance came up with something original today:  "Stocks rally on strong economic data."  Gee, yesterday's decline was all about economic worries and real estate concerns.  Flip-floppers!
  • President Bush to propose five-year interest rate freeze on home loans.  More details to come tomorrow, but it looks like loans taken out from January 2005 until this past July will be eligible.  Senator Hillary proposes a five-year freeze on ARMs and also a 90-day moratorium on foreclosures.
  • Didn't trade today.  Remaining 100% long.
  • Stayed home sick today.   Slept in.  But did accomplish something.  I upgraded the ROM on my cellphone from Windows Mobile 5 (WM5) to WM6.  Feels like a new phone!  Extremely easy.  No problems.  But I did have to re-install some of the applications and such that I wanted.  The issue there was finding registration codes for various things.  And WM6 came with a different set of ring tones. 

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