As the financial markets await the bank stress test results in the US, a potpourri of video clips was produced. Although the discussions were varied, a golden thread prevailed: the duration of the financial crisis and the economic recession, and whether stock markets have hit bottom.
Needless to say, the plight of the beleaguered automakers and fears of an escalation in the number of swine flu cases also captured the attention of battle-weary investors. However, the S&P 500 Index rallied to a gain of 9.4% for April – representing its best monthly advance since March 2000 – and US Treasury yields jumped to levels last seen in November as investors “looked past the valley”.
Commentators featured on camera in this post include Simon Johnson, Michael Perino, Jim Walker, Steve Forbes, Christopher Whalen, Joseph Stiglitz, Marc Faber, Bill Ackman, Paul Kasriel, James Galbraith, Paul Volcker, Sheila Bair, Mark Mobius, Robin Griffiths and Jim Rogers.
The selection kicks off with a recession singalong – a Walt Handelsman animation entitled “Worst Slide Story”, and concludes with an interesting visualization of President Obama’s planned budget cuts.
Walt Handelsman: Animation – recession singalong!
“The classic ‘West Side Story’ is enjoying its Broadway revival. Now comes the remix, ‘Worst Slide Story’.”
Source: Walt Handelsman, Newsday, April 13, 2009.
CNBC: How swine flu spreads in humans
“A deadly outbreak of swine flu has killed more than 100 people in Mexico, and infections have been reported around the world. Malik Peiris, professor at University of Hong Kong, spoke to CNBC about how the flu can spread.”
Source: CNBC, April 27, 2009.
Bloomberg: Jim Rogers says flu may be “disaster in weak economy”
“Jim Rogers, chairman of Rogers Holdings, talks with Bloomberg’s Betty Liu and Peter Cook about the potential impact of swine flu on the global economy.
Rogers, author of ‘A Gift to My Children’, also discusses the restructuring efforts at US automakers, ‘short’ strategy and investment opportunities in commodities. He speaks from Singapore.”
Source: Bloomberg, April 28, 2009.
Bill Moyers (PBS): Conversation with Simon Johnson and Michael Perino
“Bill Moyers speaks with economist Simon Johnson and Ferdinand Pecora biographer and legal scholar Michael Perino. Johnson is a former chief economist of the International Monetary Fund (IMF) and a professor at MIT Sloan School of Management, and Perino is a professor of law at St. John’s University and has been an advisor to the Securities and Exchange Commission.”
Source: Bill Moyers Journal, PBS, April 24, 2009.
CNBC: Financial crisis still has long way to go
“Hold on to your horses as the global financial crisis still has a long way to go, says Jim Walker, founder & CEO at Asianomics. He tells CNBC’s Martin Soong that we are probably in the horizontal part of a L-shaped recession.”
Source: CNBC, April 29, 2009.
Fox Business: Forbes – recovery hinges on credit market
Source: Fox Business, April 27, 2009.