"NEW YORK - Goldman Sachs Group Inc. yesterday said quarterly earnings fell 11 percent as market turmoil hit trading and slowed investment banking, yet the firm again exceeded expectations by avoiding major losses on assets slammed by the credit crisis....
"They have an uncanny ability to stay out of trouble," said Thomas Russo, portfolio manager at Gardner Russo & Gardner in Lancaster, Pa.....
Yeah, I wonder how they are able to do that (pfffffftt)!!
Also see:
Goldman Sach's Globalist Crowd
Now the LOSERS!"Airlines foresee $10b loss in '08"
Awwww, boo-fucking-hoo!
"WASHINGTON - US home prices are only about halfway through their decline and most of the further erosion should occur this year, major bank economists said yesterday.
The 10 economists, including those from Wells Fargo Bank and JPMorgan Chase & Co., also cited the negative overall tone of the economy, with consumer spending curbed, spiking fuel and food prices, tight credit, and relatively high unemployment....
The group - which also includes economists from Northern Trust Co., SunTrust Banks Inc., PNC Financial Services Group Inc. and Huntington Bancorp - met with Federal Reserve officials Monday...."
And are you happy about being an "other" in the elite business press, 'murkn?
"Wholesale prices jump in May; Energy, food feed 1.4% rise; Fed not likely to lift rates" by Associated Press | June 18, 2008
WASHINGTON - Wholesale prices barreled ahead while housing and industrial activity faltered - a blend of high-costs and slow growth that ensures the Federal Reserve's most likely move on interest rates next week will be no move whatsoever.
There's some Catch 22 for the Fed in all of this, and chairman Ben S. Bernanke and his colleagues have made increasingly clear they're not inclined to cut interest rates further for fear of aggravating inflation....
Ken Mayland, the president of ClearView Economics, after the latest batch of economic barometers were released yesterday: "The Fed is in a box."
The Labor Department's producer price index, which measures the costs of goods before they reach store shelves, leaped 1.4 percent in May, the biggest increase in six months. Galloping energy and food prices, which are especially squeezing business profits, figured prominently in the index's pickup.
You know, the IMPORTANT STUFF!
The economy's problems and high prices for fuel and raw materials are taking a toll on manufacturers and others.
See that, America? We are just a bunch of OTHERS to the MSM!
The Fed reported that industrial production fell 0.2 percent in May, the second straight monthly decline. Plants operated at only a 79.4 percent capacity, the lowest since September 2005 after the Gulf Coast hurricanes. And, there was more fallout from a deeply depressed housing market.
The Fed and the Bush administration are hoping that the central bank's powerful rate cuts since last September - which take months to work through the economy - along with the government's $168 billion stimulus effort - will help lift the country out of its doldrums.
It's a gamble, though, as expensive food and gas could force people and businesses to hunker down even further.
Oh, great. Our ECONOMY is a GAMBLE!
That really makes me feel good.
Yet another report yesterday showed the country's "current account" deficit, which is the broadest measure of trade, widened to $176.4 billion in the first quarter, up from $167.2 billion in the final quarter of last year, as the nation's foreign oil bill soared.
Some fear that the nation could be headed for a bout of "stagflation," a toxic mix of stagnant economic growth and inflation not seen in decades.... In the producer report, when energy and food costs were disregarded, the so-called "core" prices rose a much more modest 0.2 percent in May, an improvement from April's 0.4 percent increase. That suggested that other prices were better behaved."
Yeah, you prices better BEHAVE now!
As if they were wild children that aren't being controlled.
Gimme a break!
EVERYONE can SEE the PLAN, dinks!!!
