Currencies adrift all day yesterday…  Data prints begin today with Productivity…  Stop to think!  Chinese data is impressive… And Now… Today’s Pfennig!

Good day… And a Marvelous Monday to you! Hereeeeeee’s Baaaaaacccckkkkk… Oh no! Just when you thought it was safe to open the Daily Pfennig and not get lectured on deficit spending… He’s back! Oh well, It’s been over two weeks, first to Vancouver, then on vacation.

ChartoftheDay.com had an update of their chart labeled “Depression-Era Bear Market Rallies (Dow 1929-1932)” which is interesting in many, many ways, starting with the fact that it only concerns one particular three-year span, which implies that thereafter there were no more bear market rallies of note, …

Euro leads currencies higher…  Commodities rally back on FOMC thoughts…  FOMC meeting today…  NZ Consumer Confidence on the rise… And Now… Today’s Pfennig!

It’s not often we agree with New York Times hack and Nobel Prize winner Paul Krugman. He has been a harsh critic of Team Obama’s policies. The problem is he argues for doing more, not less. However, in a recent New York Times article “The Krug” actually said something that made sense.

Stress tests finally print!  The Gov’t wants you to “feel good”…  Job losses decline on a weekly basis…  Happy Mother’s Day! And Now… Today’s Pfennig!

I thought that I had a pretty good handle on how much “stimulus” money Congress and the Fed have spent so far, ranging, as it does, in the zillions of dollars…

I was captivated by the Wall Street Journal headline “Bearish Big Investors Catch Gold Bug” by Gregory Zuckerman, because I don’t ever expect to see anything favorable about gold in the WSJ…

The worse news, from the standpoint of a whole cornucopia of governments and taxing authorities that have sprung into being over the last 40 years, is that these kinds of ‘fails to deliver’ things are losses, and losses are deductible against taxable gains…

Jim Sinclair of jsmineset.com had a link to the essay “Before Saving the US” at ChinaStakes.com, written by a guy named Xiang Songzuo, which starts out, “The nature of the current global financial crisis is the biggest debt crisis in America’s history”, which is certainly not news.