The day ahead: Thursday

August 19, 2009

Investors’ attention will turn to Jackson Hole, Wyoming, as policy-makers from around the world gather to talk about how to prevent another global financial crisis. Results from Gap and Sears are also expected.

  • The Kansas City Federal Reserve’s yearly conference at a mountain retreat in Jackson Hole, Wyoming, draws central bankers and top economists together as the current crisis appears to be easing. Fed Chairman Ben Bernanke speaks on Friday.
  • Gap’s results will show whether its focus on boosting margins, even as a widespread slump in consumer spending has cut into sales, has been successful.
  • Eddie Lampert’s efforts to break Sears into five segments and taking his scattered approach to finding a format for growth will be on display when the retailer reports quarterly financials.
  • August business activity and weekly employment data should reinforce investor expectations that the economy is on the mend.

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I would hope that they figure out how to stabilize the system. We seem to have banks, stock brokers, and commodity traders doing everything possible to destabiltize the markets. We the people are waiting for our Government to say “ENOUGH”. We need temporary stabilization rules followed by strong legislation to stop the nonsense of running things up and down.

Posted by f belz | Report as abusive

So, the brain trust of “central bankers and top economists” who broke economies around the world are now making policy for the rest of us? Is this a joke?

Posted by Dave Stockwell | Report as abusive

the problems with the system that everyone saw last year will not be resolved as the greed in the west will take over from better judgment. The first sound of the bell has already rung with the wealth and power shifting east and when the second financial crisis will come and believe me it will come sooner than later, the power shift will be complete.

Posted by asian opinion | Report as abusive

Moderator, could you please post this instead of the one above? I remembered a funny story I heard last summer. Thanks!What are you kidding? If they wanted to really get something done they’d hunker down in an office in D.C. This is just a great excuse for government paid vacations. Jackson hole is a drop dead gorgeous, expensive resort. Takes forever to get their by car, great justification for the government jet. They’ll smoke their stogies, drink, hunt, sunbathe, river raft and swim. Then joke about the fact that they have to give the obligatory fat talk to the people about how they’ve solved all the problems of the world. And nothing will change, as usual, except the federal deficit.Funny I was just thinking about a story I heard last summer when I was on holiday in Jackson Hole, we were rafting down the snake river and the tour guide said “That right there, is called Clinton rock. You see quite a few years back, president Clinton and his entourage of bodyguards were rafting down the river. Clinton and a few buddies in one raft, bodyguards in 2 rafts side by side. Clinton’s raft got stuck at the top of the rock in a vortex. (kinda thing where the boat just keeps churning and circling around in place but tough to get out of). Anyway, the bodyguard’s rafts didn’t get stuck and just kept going on down the river. The bodyguard’s went frantic, and a couple of them actually jumped out of their rafts and tried to swim up river to the president. Obviously, they had to be saved themselves.”Funny story as it was then, I didn’t think much of the president taking a vacation on the tax payers dime. In fact, if it wasn’t for the fact that I lost my job, then my car, then my house, I’d probably be back up there again this summer, but no can do. But I tell you one thing. When I do get my new job, and I look at the Federal deductions out of my pay check, I’ll sure as heck think about this story, and all the fat cats from every nation of the world having a good ole time with our money.

Posted by Karen | Report as abusive

DS: So, the brain trust of “central bankers and top economists” who broke economies around the worldThis reasoning is specious and insulting. Central Bankers and Top Economists were not responsible for the Collective Cupidity that promoted the Subprime Mess leading to the Present Mess from which many are suffering.I will remind you that it was fraud at the level of credit institutions that indulged in predatory pricing to hook customers. It was Investment Bankers and Rating Agencies that foisted the Toxic Waste upon the world.Economists and Central Bankers had nothing to do with it. They were spectators just as you and me. If you are looking for a culprit, try Bill Clinton who killed the Glass-Steagall Act of 1932.

Posted by Lafayette | Report as abusive

Hallo folks!I want to address fools who rule this world since last few centuries who thought they are the supreme, But god is great every time god play that miracle game to solve the problem created by us,1. Currency of specific country is not world currency.2.make UN universal body who control all the world financial, trade, charitable organization and all other world bodies to come under this umbrella organization which will not be a solve organization of US UK or Europe.3. World body headed by any country other than beneficiaries of existing financial system is needed to come forward to address and take over and this kee problem can solve all, because this is root cause of all militancy rather created by disparity.4. establishing a transparent system not complicated. which can resolve the issue as A HOLE.5. THEN PEACE ARRIVES AND THATR IS THE ULTIMATE GOAL.6. WHEN RULER IS CRYING FOR HIS JUDGEMENT THAT IS THE BEST JUDGEMENT.HAVE A NICE DAY

Posted by Subir | Report as abusive

Lambert. Sears. Dead.

Posted by William | Report as abusive