US data may wake up the markets… Toyota reports a loss…  NZD falls, AUD gains… Will the Rupee shine in 2009?… And Now… Today’s Pfennig!

I have some bad news for the U.S. government; the taxpayers are not prepared to loan anything to anybody! Hell, total debt-to-GDP is over 350% already, maybe 450%, which is, either way, the highest, by far, of anything I’ve seen in U.S. history…

Data continue negative in the US…  China cuts rates… Chinese currency reserves to hit $2 trillion… And Now… Today’s Pfennig!

With consumer confidence now testing generational lows, our politicians are, nevertheless, continuously assuring us that the economy is strong and that there is no cause for worry.

More losses… Currencies rebound… Jumping off the bandwagon…  Slowing renminbi appreciation? And Now… Today’s Pfennig!

Consumer spending – the driving force behind the U.S. economy – slowed in April. Soaring prices wiped out any benefit from the scant 0.2% increase in consumer spending in April, the Commerce Department announced.

As the post-Memorial Day hangover lingers, and $4 per gallon gasoline becomes a national reality, expect more and more daily energy prognostications.

Markets got very excited towards the end of last week. There was all that loose talk about the credit crunch being over for starters. This was compounded by some better-than-expected US economic data.