Toro's Running of the Bulls Market Blog

It Must Be a Bottom in the Banks

Today, the St. Petersburg Times in Florida ran a piece entitled "How Safe is Your Bank."

This Nation Needs Another Bubble!

The Onion reports on the financial markets turmoil, via Paul Kedrosky

A panel of top business leaders testified before Congress about the worsening recession Monday, demanding the government provide Americans with a new irresponsible and largely illusory economic bubble in which to invest.

Sage Investment Advice of the Day

The following popped up into my email this afternoon.

Market Action, July 15 2008 - No Longer Short Canada

I covered my Canada short today.  Toronto was down 500 points today at one time as the sharp decline in the price of oil whacked the Canadian energy stocks. 

The United States Bails Out Freddie and Fannie

Here is the text

Fannie Mae and Freddie Mac play a central role in our housing finance system and must continue to do so in their current form as shareholder-owned companies. Their support for the housing market is particularly important as we work through the current housing correction.

Euro as a Share of Global Reserves Declines

This might come as a bit of a shock to the Dollar-is-history-as-a-reserve-currency crowd.  Heck, I'm not one of those dollar-collapse guys, and it came as a surprise to me.

From the ECB via Alea blog.

Gas Consumption Falling

No surprise.

From the WSJ, via The Big Picture