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The little-known reason Canadian banks are so much safer than U.S. banks

From Carpe Diem:

The Wall Street Journal reports on a fascinating new paper by Columbia University finance professor Charles Calomiris (“The Political Foundations of Scarce and Unstable Credit”), which is based on a forthcoming book he’s co-authored with Stephen Haber. Here are some excerpts from the WSJ article “Why Canada Can Avoid Banking Crises and U.S. Can’t”:

Since 1790, the United States has suffered 16 banking crises. Canada has experienced zero — not even during the [...]

ALERT! WSJ is trying to save the markets by spreading rumors!!

via WSJ:

BERLIN—Germany is sending strong signals that it would eventually be willing to back ideas such as joint European bonds or a banking union if European leaders are willing to give up more sovereignty and transfer significant powers over national budgets to Europe, a step that, if embraced, would redesign monetary union and be one of the boldest steps taken by the bloc since the euro was launched.

Europe has been [...]

‘A bailout loan could stretch the resources of both the IMF and the euro zone to breaking point and raise serious questions about the purpose of the euro’

From the WSJ article:

“A bailout loan could stretch the resources of both the IMF and the euro zone
to breaking point and raise serious questions about the purpose of the euro,”
another of the people said.

“Neither the IMF, nor the euro zone, can shoulder this bill with three other
euro-zone bailouts in progress. The money is simply not there,” a second person
said.

Alas don’t worry Spain is going a begging:

Spanish government officials are [...]

The Two newspapers in Greece that have run the latest poll are mouth pieces of PASOK party.

via Business Insider:

Last week we pointed out that markets were paying close attention to polling data in Greece.

Basically, any polls showing a lead for the left wing SYRIZA coalition were depressing markets, and any polls showing strength for the pro-bailout New Democracy party were being greeted positively.

In light of that, it’s pretty clear that the majority of polls (which we’ve been tracking via the tireless Greek journalist on Efthimia Emthimiou on Twitter) are showing a [...]

How the U.S. could shock the world and own the 21st century

From Carpe Diem:

From today’s WSJ article “The Future is More Than Facebook” by Forbes publisher Rich Karlgaard:
“Manufacturing? America will own the mid-21st century. Geopolitical instability and rising oil prices will wreck the late 20th-century rationale for outsourcing. Chinese labor costs are rising 20% a year while robotic costs are dropping by 30% a year. Do the math.

“Made in the USA” is set to have a major comeback. The showstopper will [...]

Understanding J.P. Morgan’s Loss, And Why More Might Be Coming

From ritholtz:

The Wall Street Journal – J.P. Morgan’s $2 Billion Blunder
Bank Admits Losses on Massive Trading Bet Gone Wrong; Dimon’s Mea Culpa
A massive trading bet boomeranged on J.P. Morgan Chase & Co., leaving the bank with at least $2 billion in trading losses and its chief executive, James Dimon, with a rare black eye following a long run as what some called the “King of Wall Street.” The losses stemmed from wagers [...]

Nice WSJ article on re-naming the Nets for their move to Brooklyn next year. I’d really like to see this happen:

From WSJ:

The Nets are done with Jersey. That is that. They wrapped their final semester-at-sea in Newark with a stinker loss to Philadelphia Monday; Net-loather Chris Christie did not wander out to mid-court and warble Elvis Costello’s “I Hope You’re Happy Now”; there was no high-speed, 50-Ferrari trooper escort to the Verrazano Bridge. They have a road game left at Toronto, but the Nets belong to Brooklyn. Time to blow [...]

The following companies are closing stores and planning to layoff people – Latest casualty count

A WSJ article posted 3/6/2012 that the following national retailers are closing stores.
I Googled each brand name to see how many stores they are closing in 2012:

Abercrombie & Fitch (closing 180 stores 20% by 2015)
Gap (closing 187 stores 21%)
Sears (closing 3 Sears & 10 K-Mart)
JC Penny ( closing 19 stores out of 1100; closing 250 outlet stores)
Target on Line Shop (closing this function)
Borders (closing all)
Walden Books (closing all 844 [...]

WSJ: Price Inflation Tamed, “Green Lights” QE3

The Wall Street Journal ran an article today, with marquee spot on the front page of the Money & Investing section, claiming “Inflation Reports May Clear Path for QE3.” With more and more currency-printing on the horizon, it becomes more important for investors to understand what the Federal Reserve is doing and why they are doing it. The Wall Street Journal claims that:

#1. Falling stock prices are what have prompted past [...]

SkyNet Is Now Cannibalizing Itself: BATS IPO Flash Crashes; It crashes from $15.75 to $0.038 in minutes

Presented with little comment – except the irony is simply too much to bear as BATS crashes from $15.75 to $0.038 in minutes…perhaps reflecting the WSJ article on HFT abuse and that BATS is being investigated for HFT abuse (ahem) on the day it goes public. We note that there were some trades executed at $0.00! The reason for the crash apparently is because BATS stock is ony trading on the BATS exchange, where apparently [...]

Federal Reserve “mouthpiece” hints at Ben Bernanke’s next move

From Bruce Krasting:

Jon Hilsenrath, at the WSJ, must have had a phone call with Ben Bernanke on Saturday. Accordingly, Jon put an article out just in time to influence the market on Monday morning. The headline says it all:

Fed Takes Break To Weigh Outlook

No doubt, Bernanke is watching the price of crude and the tape is telling him his inflation forecast is no good. The leak this evening is just Ben’s [...]

ExxonMobil: Why natural gas will soon replace coal

From Mark J. Perry’s Carpe Diem:

From today’s WSJ article “Exxon Declares Gas is King”:

“Natural gas will replace coal as the leading fuel for generating electricity in the U.S. by 2025, when it will also become the world’s No. 2 overall fuel source thanks to its abundance and a drive for cleaner-burning energy, according to the latest long-term outlook from Exxon Mobil Corp.

“Natural gas will overtake coal as the second-largest fuel source overall, [...]

James Turk: The Real Reason for Rising Commodity Prices

An article today in The Wall Street Journal highlights the latest rise in the price of wheat.Â Blaming bad weather, it notes that the â€œglobal wheat market is caught between freezing winds and a sirocco.â€

The WSJ therefore warns that â€œinvestors should beware of whiplash as weather normalizes.â€Â Given that wheat is â€œup 13% since the start of Decemberâ€, it is good advice â€“ if weather were [...]

Richard Russell: Gold is in the Process of Building a Bottom

With gold and silver off of the recent lows and the US Dollar staying below key support at 78.50, the Godfather of newsletter writers Richard Russell asked this important question,â€œWill the dollar continue its fall, and will the Dollar Index break below its March 2008 record low of 72.165?â€

Russell continues:

â€œA typical know-nothing article appeared in Saturday’s Wall Street Journal. The title of the article was: “Is Gold’s [...]

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