Items Tagged With Eben Esterhuizen

Dollar Rebound in 2008: A Fairy Tale?
Written By: Eben Esterhuizen
2008-03-11 00:49:03
Several analysts expect the U.S. dollar to rebound in the second half of the year. A slowing U.S. economy always affects the rest of the world with a delay, they say, and most of the bad news may already be priced into the greenback. "For Euroland, historically, the delay has been one or two quarters," notes Stephen Roach at Morgan Stanley. Analysts like Mr. Roach argue that central banks that proactively cut rates to bolster growth (like the Fed) will now see their currencies rally, and central banks that don't cut rates will see their currencies weaken. The implication here is that investors will move money away from yield and turn their focus to areas of growth. Going by this logic, the U.S. dollar should benefit from the Fed's amplified focus on growth.

Photo:Thomas Hawk, Creative Commons, Flickr

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Dreaming of a Solar-Fueled Democracy
Written By: Eben Esterhuizen
2008-01-29 01:46:40
Imagine the following: You are on the operating table as surgeons perform a delicate procedure on the artery supplying blood to your brain, when, without warning, the lights go out. For 10 terrifying minutes you wait - fully conscious, as you have been throughout the operation - as computerized medical equipment re-starts, using power from an emergency generator.

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Environmental Fundamentalism vs. Capitalism
Written By: Eben Esterhuizen
2007-09-23 22:37:55

Wow! Such a serious title, and it’s only about 10 in the morning. At first I wanted to call this piece something wacky like “How Many Bureaucrats Does it Take to Change a Light Bulb?”, but changed my mind after reading Lehman’s (LEH) climate change report. Now is unfortunately not the time for “How Many XYZs Does It Take to Change a Light Bulb?” jokes.

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Five Reasons to Save the Dollar
Written By: Eben Esterhuizen
2008-03-03 00:38:12

Photo:VaguelyArtistic, Creative Commons, Flickr
Financial firms have so far announced losses totaling around $160 billion, and UBS feels there could be a total of $600 billion in losses triggered by the subprime collapse. There is more bad news to come and central bankers know it. If UBS is correct we've only seen the tip of the subprime iceberg, and central bankers will have to remain flexibile to effectively deal with upcoming challenges. I don't doubt that the dollar's long term trend is down, but coordinated intervention to give the U.S. dollar a short-term (2-5 years) lift may be an interesting idea for central banks to consider.

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Freddie and Fannie Bailout: The $5.4 Trillion Contradiction
Written By: Eben Esterhuizen
2008-09-11 02:26:51

Secretary Paulson Freddie and Fannie Bailout: The $5.4 Trillion Contradiction

Photo: z_everson, Creative Commons, Flickr

"Housing finance in the U.S. has long depended on the GSEs Fannie Mae and Freddie Mac," writes Stephanie H. Giroux, TD Ameritrade's Chief Investment Strategist. "These mortgage lending giants were created by Congress in 1938 and 1970 to support the housing market, and currently hold $5.4 trillion of the roughly $12 trillion U.S. mortgage market. Over the past four quarters, Fannie and Freddie have posted losses totaling roughly $14 billion, as mortgage foreclosure rates continue to climb in the U.S.

The government’s intervention will result in the largest federal bailout in U.S. history, which is intended “to meet the objectives of market stability, mortgage availability and taxpayer protection," said Treasury Secretary Henry Paulson."

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