I thought that my eyes were playing tricks on me, but it looked like the earnings of the S&P Industrials Index went down last week, plummeting to $65.86 from $85.90 the week before…

“We must preserve and strengthen 401(k)s,” says Rep. George Miller (D-California), chairman of of the House Education and Labor Committee, and the man who might yet degrade and destroy 401(k)s.

The dollar continues to rally…  Obama bounce picks up steam…  ECB and BOE meet this week…  Brazilian reals on a roll! And Now… Today’s Pfennig!

The currency markets reaction to the Federal Reserve’s recent interest rate cuts has ignited a rally in gold, as investors weigh the benefits of owning the yellow metal versus U.S. Treasuries and the dollar.

MSCI world equity index up 0.7 pct at 224.39… Euro rallies on doubts over deep rate cuts… Oil jumps 5 pct; government bonds fall

It took the statisticians of the National Bureau of Economic Research almost a year to confirm what the rest of us already knew, that the US registered a significant decline in economic activity, thus officially entering a period of recession.  While I am pleased that the members of NBER take their duties seriously, thereby ensuring that they don’t leap to any hasty conclusions, I only wish that similar moderation could be displayed by their colleagues at the Fed and the Treasury.

Equities surged around the world on Monday with investors taking heart from a likely rescue plan for U.S. automakers, a proposed U.S. jobs plan and more government stimulus measures to reverse economic decline.

Dollar weakens against euro as U.S. equities gain… Oil recovers from 3-1/2 year low … Traders look to U.S. auto sales figures to guide platinum

MSCI world equity index up 0.9 percent at 192.09, Hopes for interest rate cuts cushion economic gloom, Government bonds rally; oil rises from 3-1/2 year low

From Bloomberg:

A U.S. Securities and Exchange Commission investigation into credit-rating companies found the firms improperly managed conflicts of interest and violated internal procedures in granting top rankings to mortgage bonds.