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  • "The president is missing," Paul Krugman writes - or at least his version of what Obama should be: "the inspirational figure his supporters thought they elected." By "caving in so completely" on the "terrible" budget deal, Obama "set a baseline for even bigger concessions over the next few months."  [View news story]
    With comments like these you have to wonder how deep Krugman's short position is on USA, Inc.?
    Apr 11 08:04 PM | 3 Likes Like |Link to Comment
  • Detroit's despair: Population has plunged 25% in a decade to hit a 100-year low; vacant housing units now comprise 20% of the city's housing stock. The no. 1 reason, IBD says: the United Auto Workers union. As long as total full-time pay and benefits for a Big Three factory worker stay near $140,000/year, Detroit will continue its descent.  [View news story]
    how about urban farms?
    Mar 24 08:09 PM | 3 Likes Like |Link to Comment
  • The latest Producer Price Index, showing benign 0.2% inflation, is the latest round of "misleading government statistics" concerning price increases brought on by Fed policies, Jeff Cox writes. What's supposedly holding prices down: “prices received by the commercial banking industry.”  [View news story]
    thank you.....
    Mar 16 05:44 PM | 3 Likes Like |Link to Comment
  • "We are going into a recession, damn it!" says John Taylor of currency hedge fund FX Concepts, due to rate hikes coming as easy monetary policy ends. He foresees a 4%, 3%, 2%, 1% rate of annualized GDP growth by quarter. U.S. stocks will continue rising for another few months, at which point the "coming recession" will take over, he says (video).  [View news story]
    If I recall correctly, this debate waged back and forth from 1930 (or 31) until just before the beginning of WW II - by the end of which the depression actually did end; during it, people paid a lot more attention to the WAR than the market in general news.

    Aside from the lack of appearance of the dustbowl or urban soup kitchens - just yet - we could still be at the beginning of another engineered depression. Those green shoots looked really good in the midst of the early 30's, yet FDR managed to keep it going for years after that.

    I hear the negatives running at me already....
    Mar 3 03:09 PM | 3 Likes Like |Link to Comment
  • Think it won't be tough to agree on how to cut federal budgets? Less than a quarter of Americans support making significant cuts to Social Security or Medicare to tackle the deficit, according to a new WSJ/NBC News poll.  [View news story]
    Medical care worked at under the cost of inflation before Johnson and Nixon meddled - though it certainly did not provide the non-productive political patronage and bureaucracy jobs.

    The added bonus was that (1) you could use your savings to pay for procedures minimal medical insurance didn't cover and (2) you could choose your doctor and hospital - there was competition for services, not just for drugs as it appears today. And, contrary to progressives, people without money did not die in the streets. Lies however often repeated are still not the truth, though somehow the mindset of Che Guevera lives on like bad money.
    Mar 3 10:00 AM | 3 Likes Like |Link to Comment
  • Obama's attempts to move to the political center have been all talk, former GE CEO Jack Welch tells CNBC, citing Obama's recent decision permitting Transportation Security Administration employees to unionize. On public sector unions overall, Welch says comparing the rights of public workers with private is "like comparing giraffes and cats... they're two different arguments."  [View news story]
    If monopoly control of the market was so important that we had to ruin Standard Oil (inappropriately and out of corruption, mind you), how is it right at the point of public union control of public services, particularly if there is a RTW issue?

    I guess I'm just thick.
    Mar 1 09:44 PM | 3 Likes Like |Link to Comment
  • "We have reason to believe that the majority of the oil and gas fields … are no longer under Gaddafi's control," says EU Energy Commissioner Guenther Oettinger, arguing against sanctions targeting the energy sector. "We might potentially be punishing the wrong people."  [View news story]

    "We might potentially be punishing the wrong people."

    When has that ever had anything to do with anything? Is this a new policy, relevance?
    Feb 28 12:55 PM | 3 Likes Like |Link to Comment
  • Investors should welcome the people-power revolutions given that very few of them have direct exposure to crumbling dictatorships, James Saft writes. While the short-term ride may get a little rough, "better returns, over the long haul, will tend to be where there is more transparency and democracy," he says.  [View news story]
    Just a couple of thoughts from people who knew more than I that we might want to keep in mind....

    “The urge to save humanity is almost always a false front for those who would want to rule it.” H.L. Mencken

    “Idealism is the noble toga that political gentlemen drape over will to power.” Aldous Huxley
    Feb 22 09:34 AM | 3 Likes Like |Link to Comment
  • OK, let's see if we got this straight: Bernanke says stronger hiring is needed for the recovery to be truly "established." Then, in his rare Q&A session, he says the Fed will decide if further easing is needed based on the usual economic metrics - such as employment. Doesn't that mean "unless the U.S. creates a whole lot of jobs in a few months... more QE seems in the cards"?  [View news story]
    Geoffster, that is so encouraging.
    Feb 3 08:45 PM | 3 Likes Like |Link to Comment
  • Fed vice-chair Yellen defends QE, pointing to a study by 4 of her researchers concluding the $600B bond buying program will create 700K jobs. Hey, that was easy. Why not conjure up 1.4M positions by doubling the purchases?  [View news story]
    It would be my contention that as baseless pseudo-science infected environmental science showed that marketing false data is a consequence-free action, everyone now thinks that WAG's such as this (we can only assume those numbers came from a place you probably don't want to go, unless you live in SF, perhaps) can be freely strewn about in the public sphere to support whatever baseless argument you want to make.

    In Washington-talk, that is probably correct as it is merely the lingua franca of the chattering political classes.
    Jan 9 10:39 AM | 3 Likes Like |Link to Comment
  • The one reason the Fed did not mention for why rates rose after trying to keep them low: inflation. The FOMC minutes listed every other possible reason, despite surging commodity prices (before today). The Fed continues to see deflation as the greater threat, giving it a license to print.  [View news story]
    Don't you guys remember? Day is night. Wrong is right. Dark is light. Democrat is Republican - whoops, that is pretty obvious and didn't need Orwell. It is an intrinsic part of Alinsky-speak to say what you want people to believe often enough so that they think it is true. Black is white. Inflation is deflation. Etc.

    It will go on until either the system becomes the black hole so many expect or somebody awakens the slaves to their chains. Personally, given the PT Barnum effect, I believe the former will happen first.
    Jan 4 09:37 PM | 3 Likes Like |Link to Comment
  • Pres. Obama will name his replacement to the National Economic Council next month. His choice will be closely watched and could signal a new direction for an administration struggling to jolt the economy back to life.  [View news story]
    He'd certainly fit in with the administration.
    Dec 28 09:52 AM | 3 Likes Like |Link to Comment
  • Pres. Obama will name his replacement to the National Economic Council next month. His choice will be closely watched and could signal a new direction for an administration struggling to jolt the economy back to life.  [View news story]
    What about Vladimir Ilyich Ulyanov? Oh, he's dead - well, just prop him up in the meetings, the academics won't notice the difference.
    Dec 28 09:16 AM | 3 Likes Like |Link to Comment
  • 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]
    Just as the UK has done: death by thousands of small bites, the hidden taxes you never pay directly but that literally suck the cash flow from your life.
    Dec 15 08:42 PM | 3 Likes Like |Link to Comment
  • Doug Kass is a seller on any market rally, he says on his Twitter post.  [View news story]
    both may be correct.
    Oct 20 03:14 PM | 3 Likes Like |Link to Comment