Conditions for the next crisis are firmly in place Financial Times Larry Summers the Cable Guy The WSJ The End of the Growth Consensus The WSJ How Spending Cuts—Not Higher Taxes—Saved Canada The WSJ Obama's Debt-Ceiling Scare Tactics The WSJ Why the Fed Is Not Independent The WSJ … [Read more...]
What we’re Reading 7-14-11
How Much of the Decline in Unemployment is Due to the Exhaustion of Unemployment Benefits? Federal Reserve Bank of Chicago A Home Is a Lousy Investment The WSJ The Disappearing Recovery The WSJ … [Read more...]
Ron Paul : Why do central banks hold Gold? Bernanke : Tradition
Bob Lutz on Manufacturing
Bob Lutz says manufacturers should be creating jobs in the U.S. … [Read more...]
Greenspan One-on-One
Former Federal Reserve Chairman Alan Greenspan's view on the economy. … [Read more...]
Pimco’s El-Erian on Greece Outlook, IEA Oil Release
Down 72% in 6 Days
This week, another Chinese company came under scrutiny as possibly perpetrating fraud on its shareholders. Toronto-listed and China-based Sino Forest is under investigation by the Ontario Securities Commission (the SEC’s Canadian counterpart), after a report released by research firm Muddy Waters, accused Sino Forest of “aggressively committing fraud since its RTO in 1995.” The allegations in the Muddy Waters report have been refuted by Sino Forest, but the market smells a rat. Sino’s shares have cratered over 73.3% since the report was released. And we aren’t talking about a penny stock here. … [Read more...]
Rogers: Only a Crisis Can Fix U.S. Debt Problem
Jamie Dimon vs. Ben Bernanke
Housing Turns Ugly: South Hurt Worst
The number of new housing starts reported in April was a big disappointment. The 523,000 starts didn’t even break into the consensus range predicted by a Bloomberg survey of economists. The economists figured on 570,000 starts as the most likely number, but were disappointed when results came in 8.2% below their expectations. There were regional pockets where the numbers looked very bad. In the South, the number of new housing starts fell by 23% compared to March, the largest single-month decline since 1988. There were only 255,000 housing units started in the South in April, the lowest … [Read more...]