February 12, 2009
markets fell today and then rallied sharply in the last hour
of trading upon rumors that the administration is floating a means-testing
mortgage relief plan..
Composite increased 11.21
the Dow dwindled
points (-0.09%) to
end at 7,933
and the S&P
to close at 835. Oil
ended at $34.58,
while gold increased to
fell to 41.25.
There isn't a whole lot else to tell. Paul Krugman has
written Permanent Link to Deflation risks, again,
in which he estimates that wage inflation has hit zero percent, and is
heading down. He suggests that President Obama is, perhaps, a bit too
diffident about nationalizing our banks in Permanent Link to Obama on nationalization.