ECB President Trichet repeatedly stressed that just because recent economic data have been encouraging, a sustainable economic recovery in the near term is far from certain.

Over the weekend, finance ministers of major countries got together to give a pep talk on the U.S. dollar and assure the world that the world will be squarely focused on the exit strategy – i.e., how to get out of this money printing mania.

In our estimate, the U.S. Treasury will have to raise over $2 trillion dollars this year to finance new obligations. In addition, over $2 trillion in government debt held by the public is coming due and has to be re-financed this year.

The pundits are all excited that payrolls in the unemployment report released this morning fell by 345,000 in May. I don’t see it that way.

Today, a nightmare scenario for the Fed is unfolding. Stocks are down sharply; bonds are down sharply; the dollar is down sharply, while gold and the euro are up.

The rally the markets on the heels of a sharply weaker dollar and higher commodity prices may lure ever more investors back into the markets. Is this the real thing?

The swine flu rages, yet the markets are climbing a wall of worries. In the first quarter, consumption turned positive, but business investment fell off a cliff. Who do you think has it right: …