While many believe the global economy is stable and recovering, "permabear" economist David Rosenberg sees "a car being driven by a drunk, lurching from side to side on the road, narrowly avoiding the ditches each time." While the car is in the middle of the road right now, "is that because the driver has sobered up, or is it because the car is just passing through the middle on its way to the ditch on the other side?" [View news story]
Economics On The Grounds Hasn't Changed Much Since '08. In Some Respects, Like In Unemployment, It's Gotten Worse. Real Unemployment Is Over 20%, A Crazy Figure. The Real Economy Is Basically In A Depression.
"It is largely the European market that assures" German prosperity says former French PM Laurent Fabius, whose comments reflect Paris' irritation with Germany's attitude toward the EU. A euro failure would double the value of a new d-mark, he contends, destroying Germany's export economy. [View news story]
What's so wrong with tax cuts for the wealthy, Caroline Baum wonders - after all, most Americans aspire to being rich. It's "voodoo economics revisited," Simon Johnson says - "childishly reckless" fiscal policy that digs the U.S. into a deeper debt hole. [View news story]
The Fed's Eric Rosengren doesn't expect the economy to pick up any time soon and recent data "has not been particularly encouraging." In particular, GDP minus inventories has been anemic. Rosengren believes QE2 could add more than 700K jobs to the economy by the end of 2012. [View news story]
Only 700k jobs? SHocking. But $600B can almost make those 700k people millionaire. Well spent, Feds.
Treasury says it will sell part of its $2.2B in Citigroup (C) trust preferred securities - all at a net gain for taxpayers, since the agency got the securities for agreeing to share potential losses on a pool of assets, but no payment was made and there's no further obligation to pay. [View news story]
"all at a net gain for taxpayers"
OMFG, so which means we have to pay tax on gains? But we didn't get the money, whats up with that? LOL
While many believe the global economy is stable and recovering, "permabear" economist David Rosenberg sees "a car being driven by a drunk, lurching from side to side on the road, narrowly avoiding the ditches each time." While the car is in the middle of the road right now, "is that because the driver has sobered up, or is it because the car is just passing through the middle on its way to the ditch on the other side?" [View news story]
http://bit.ly/XgVGrm
"It is largely the European market that assures" German prosperity says former French PM Laurent Fabius, whose comments reflect Paris' irritation with Germany's attitude toward the EU. A euro failure would double the value of a new d-mark, he contends, destroying Germany's export economy. [View news story]
What's so wrong with tax cuts for the wealthy, Caroline Baum wonders - after all, most Americans aspire to being rich. It's "voodoo economics revisited," Simon Johnson says - "childishly reckless" fiscal policy that digs the U.S. into a deeper debt hole. [View news story]
The Fed's Eric Rosengren doesn't expect the economy to pick up any time soon and recent data "has not been particularly encouraging." In particular, GDP minus inventories has been anemic. Rosengren believes QE2 could add more than 700K jobs to the economy by the end of 2012. [View news story]
Treasury says it will sell part of its $2.2B in Citigroup (C) trust preferred securities - all at a net gain for taxpayers, since the agency got the securities for agreeing to share potential losses on a pool of assets, but no payment was made and there's no further obligation to pay. [View news story]
OMFG, so which means we have to pay tax on gains? But we didn't get the money, whats up with that? LOL