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Krugman and the editors of NYT see the G-20 coming out short in addressing the crisis.
04/03/2009
The Europeans failed top support the USA in the push for strong stimulus and global regulatory reform is still uncertain. About $1.1 trillion for supporting trade and the IMF, with IMF asked to promote social help in emerging countries in addition to fixing finances.
Linked Articles
New York Times 04/03/2009
The Economic SummitNew York Times 04/03/2009
Fighting for Main Street against an Ersatz Capitalism and Bankers
04/01/2009
Stiglitz uses the term "ersatz" to refer to something not genuine, a false substitute for real capitalism, in describing the Obama adminsitration's handling of highly overleveraged and badly managed banks in the 2008 global financial crisis.
Linked Articles
New York Times 04/01/2009
Ex-Regulators Has Harsh Words for Geithner and BankersNew York Times 09/24/2012
Reinhart's view that the Geithner Public-Private Investment program won't work
03/24/2009
Reinhart, joins Peter Eavis, Rosenfeld and Krugman, in view that this won't work. He thinks the government is just buying time for a favorable opportunity to take stronger action. It may be engaging in this circuitous roundabout plan as away of saying that we tried aprivate sector solution. Krugman warns though that time is running out with the job loss numbers.
Linked Articles
New York Times 04/06/2009
Why Congress Will Kill the Bank RescueWall Street Journal 03/24/2009
Geithner's Paulsonlike plan for toxic assets and doubts whether it can work.
03/23/2009
Krugman and Eavis have doubts about the new Geithner plan as it looks so much like his predecessor Paulson's failed efforts to do much about toxic assets. Krugman sees things only getting worse as 600,000 jobs are being lost every month, as Geithner, Congress and the public fail to push for the tough solutions including government taking over failed banks to deal with tosic assets without having to sort out pricing in advance.
Linked Articles
Geithner's Gamble Needs Speculators
Wall Street Journal 03/23/2009
Financial Policy DespairNew York Times 03/23/2009
As capital markets shun small biotech startups large drug companies raise money for acquisitios and mergers.
03/16/2009
Drug companies have $155 billion they plan to use for mergers and acquisitions and are tapping the bond markets for funds. Meantime small biotech startups are running short of cash in large numbers. Will this squeeze innovation and new products as startups wither and the mergers run into problems?
Linked Articles
Drug Firms Bet Big on High-Risk Deals
Wall Street Journal 03/17/2009
Cash Dries Up for Biotech Drug FirmsWall Street Journal 03/16/2009
Ted Truman, a seasoned veteran, helps Geithner with the G20 meeting and calls for bigger stimulus spending.
03/13/2009
Ted Truman is aforceful advocate for bigger stimulus spending at the upcoming G20 meeting. In a memo to Geithner he has toughened up the US position on this in advance of the G20 meeting in the UK on April 2, 2009.
Linked Articles
Split on a Cure for Recession, Leaders Try Three Efforts
New York Times 03/15/2009
Geithner Hires a Seasoned 'Temp'Wall Street Journal 03/13/2009
The labor underutillizzation rate may hit 10% in 2010. This is the number to watch because of deepseated changes in the labor markets.
03/09/2009
This raises a number of questions about the economic recovery and calls for new initiatives in retraining and government assistance for companies to hire and retrain.
Linked Articles
Stuck at Unemployed: When A Layoff Becomes a Lifestyle
Washington Post 06/06/2009
Jobless Scars Will Outlast the RecessionWall Street Journal 03/09/2009
"So am I", the President responds to special interests gearing up to thwart his plans to revamp the economy.
03/01/2009
My message to them, is this: "So am I", with that remark in his radio address Obama says he knows special interests are gearing up for a fight to prevent needed change in education oppportunities that otherwise would close the door on the middle class, on health care coverage that otherwise will leave in addition to the 46 million not covered an additional number of that magnitude uncovered as unemployment rises and insurance premiums become unaffordable, and on energy that leaves energy policy to oil and gas companies that have done little to promote conservation or new technologies to reduce demand amid mushrooming global demand.
Linked Articles
Obama Calls His Budget Needed Change
New York Times 03/01/2009
Liberal Groups Are Flexing New Muscle in Lobby WarsNew York Times 03/01/2009
Cornell's Frank points out that savings may be good for America once they are chanelled into investment.
02/15/2009
For this to happen some of the excess household debt from the number 96% of GDP, that household debt in the USA has reached, has to be shaved off. This is happening as Americans are shifting to becoming debt free in their finances. This affects consumption through the paradox of thrift. But says Prof. Frank this is OK, as the government steps in in the meantime to give the boost to the economy, till consumers recover from debt. Future savings can then be channelled into new productive investment for modernization's next phase, just as China and India are doing.
Linked Articles
Imbalance in Nations' Savings Clouds Forecasts for Recovery
Wall Street Journal 03/23/2009
Go Ahead and Save. Let the Government Spend.New York Times 02/15/2009
For a Nobel prize winning economist a sick feeling in the stomach in February 2009.
02/13/2009
Is the US going the way of a train wreck as Japan did from the mid 1990's to 2003 with every set of actions falling short of the task of cleaning up the banking system and economic recovery? Krugman and Japanese experts who tackled the Japanese banking crisis sense something like this is happening in the US.
Linked Articles
New York Times 02/13/2009
In Japan’s Stagnant Decade, Cautionary Tales for AmericaNew York Times 02/13/2009
Bonuses, executive compensation and performance in the UK, public outcry.
01/20/2009
The executive compensation and bonus situation in the UK. RBS and othe banks and the public outcry. As RBS shares drop to 12 pence or less than the price of a candy bar, loss for 2008 is 28 billion pounds, and the British government comes up with $20 billion pounds of government money for RBS and takes 70% ownership, reports in the Sunday Telegraph suggest executives plant to handout $1 billion in bonuses. How?
Linked Articles
U.K. Boosts Its Bailout As Bank Losses Rise
Wall Street Journal 01/20/2009
British Official Plans a Review of Bonuses After OutcryNew York Times 02/09/2009
The view from Boise, Idaho. How families are coping, and saving and what it means for business.
01/06/2009
The shift to buying things at prices that conform to ideas of thrift and saving, getting rid of expensive stuff, and a new philosophy of living for the times, as well as reviving memories of the way things used to be, and the things that mattered.
Linked Articles
Hard-Hit Families Finally Start Saving, Aggravating Nation's Economic Woes
Wall Street Journal 01/06/2009
Frugality Forged in Today's Recession Has Potential to Outlast ItWall Street Journal 04/06/2009
A shortsighted approach to a solution for oreclosures that is the root of the problem
01/05/2009
A lot of the discussion gets stuck somewhere depending on whose blinkers you put on, when the issue of who started the forest fire in the economy that foreclosures have become. This prevents a rational solution, and the taking of clear decisive steps to fix it before its too late.
Linked Articles
Wall Street Journal 03/02/2009
Housing Push for Hispanics Spawns Wave of ForeclosuresWall Street Journal 01/05/2009
The different positions taken by the Europeans and the US and Britain at the G-20 summit.
04/02/2009
The different positions taken by the US and the Europeans and the thinking and culture behind each position.
Linked Articles
Steven Pearlstein - A Rare Triumph of Substance at the Summit
Washington Post 04/03/2009
Obama Hits Resistance at G-20Wall Street Journal 04/02/2009
The crisis in Eastern Europe and other developing countries and the G20 policy mandate to the IMF to support social help and stimulus spending
03/28/2009
The G-20 mandate that the IMF be the conduit for funds to help emerging countries, with the policy direction that an additional $850 billion be used not only to fix finances, but also emphasize social goals, and help people in these countries cope with the crisis. This is of great help to countries in difficulty, and assurance that the social fabric in these countries will not be torn apart as has happened before, and that people will get the necessary assistance.
Linked Articles
Steven Pearlstein - A Rare Triumph of Substance at the Summit
Washington Post 04/03/2009
Eastern Europe and the Financial CrisisWall Street Journal 03/28/2009
Geithner's Plan for Toxic Assets
03/23/2009
Experts are doubtful Geithner's plan of March 23, 2009 for toxic assets will work. Its similiar to plans previously announced by Paulson in the Bush administration. Views of Krugman, Eavis and Reinhart. If lack of confidence and lack of liquidity were the only problems they say, government money as incentives might work, but the problem is more basic and structural. These mortgage securities are from a time of easy money, now investors are shy of risks and would discount them even more as a safety factor, and banks would not want to sell them at that price. Are stress tests and nationalization of failed banks around the corner?
Linked Articles
Why Congress Will Kill the Bank Rescue
Wall Street Journal 03/24/2009
Geithner's Gamble Needs SpeculatorsWall Street Journal 03/23/2009
The Rosenfeld-Krugman solution for clean banks and new lending in the economy.
03/23/2009
Krugman and Rosenfeld, in no uncertain terms, say the only solution is for government to seize insolvent banks and create clean banks, using its existing authority and government money. Rosenfeld outlines his solution which puts banks back in private hands quickly or at the earliest possible moment.
Linked Articles
New York Times 04/06/2009
Financial Policy DespairNew York Times 03/23/2009
Amgen founder Rathmann and venture startups in the biotech industry
03/16/2009
Rathmann's focus on EPO when Amgen was near bankruptcy in the mid-1980's saved the company. By 1989 Amgen had secured FDA approval for Epogen, a hormone based drug to stimulate the production of red blood cells. This is a rare success in a biotech industry with many failed startup ventures or ventures strugglig with only 6-12 months of cash remaining.
Linked Articles
Cash Dries Up for Biotech Drug Firms
Wall Street Journal 03/16/2009
Amgen's First CEOWall Street Journal 04/23/2012
Demonstrations across France call for more government efforts to protect jobs as the US add its voice for more Stimulus.
03/13/2009
Estimated 2.5 million people across France call for more government action to protect jobs. At the April 2, 2009 G20 summit the US will forcefully call for more Euopean Stimulus spending.
Linked Articles
New York Times 03/20/2009
Geithner Hires a Seasoned 'Temp'Wall Street Journal 03/13/2009
Krugman thinks no early action to takeover insolvent banks will prolong this crisis, the President wants to "do no harm" by undermining confidence.
03/06/2009
Krugman thinks that this crisis could go on for adecade if no actions are taken to takeover insolvent banks before the situation worsens. THe President in his speech at Georgetown, on April 13, says he has not acted preemptively, not out of coddling these banks and their management, but becuase he did not want to undermine confidence. It suggests the President has moved quickly on many fronts, and he may be taking a pause to take stock of the situation and how to improve public support, before thaking on this issue and a number of others in the next round.
Linked Articles
BusinessWeek 04/14/2009
The Big DitherNew York Times 03/06/2009
Politicians who deride "mere spending programs" may have not got it right.
02/15/2009
Republicans in the House, with every single one voting against the Stimulus bill, have derided government spending as wasteful and unnecessary. The impact on the deficit makes it look sensible. However on closer examination Robert Frank, a Cornell economist, points out that in some situtations like this government spending can be not wasteful but productive and efficient, and necessary.
Linked Articles
Go Ahead and Save. Let the Government Spend.
New York Times 02/15/2009
In Gingrich Mold, a New Voice for Solid Resistance in G.O.P.New York Times 02/15/2009
How the Japanese experience in their banking crisis holds new lessons for America as it grapples with its own banking crisis.
02/13/2009
Experts who tackled the Japanese banking crisis say America is facing the same train wreck as politicians take ineffectual action in tackling the bad debt, and not until this bad debt is cleaned up will the broader economy recover.
Linked Articles
In Japan’s Stagnant Decade, Cautionary Tales for America
New York Times 02/13/2009
Ailing Banks May Require More Aid to Keep SolventNew York Times 02/13/2009
America's situation may be worse than Japan's because of the combination of household debt and toxic assets.
02/12/2009
Household debt at 96% of GDP is an additional problem that America faces in addition to toxic assets, that may make the American crisis worse than Japan's lost decade or two.
Linked Articles
Economist 02/12/2009
Frugality Forged in Today's Recession Has Potential to Outlast ItWall Street Journal 04/06/2009
Microsoft's history with internet related search ads and the $6.2 billion loss for internet businesses in 2012
01/16/2009
Linked Articles
Microsoft's Web Woes to Wipe Out Profit
Wall Street Journal 07/02/2012
Microsoft Bid to Beat Google Builds on a History of MissesWall Street Journal 01/16/2009
Obama looks for a stimulus spending plan that packs the greatest punch for the middle class and unemployment.
01/05/2009
About $300 billion of an estimated $800 billion stimulus spending plan by the Obama administration will be for tax cuts to individuals and businesses. There will be incentives for businesses to make net new hires and make new investments. The idea is to avoid wasteful spending if there is only spending on infrastructure and other spending.
Linked Articles
Obama Eyes $300 Billion Tax Cut
Wall Street Journal 01/05/2009
Government Spending Is No Free LunchWall Street Journal 01/22/2009
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