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Housing in a deep slump in 2011.
10/16/2010
Housing markets surveyed show rising inventories. The faulty documentation crisis likely to make things worse for banks with efforts to force banks to buyback loans.
Linked Articles
Wall Street Journal 10/16/2010
Housing Gloom DeepensWall Street Journal 10/26/2010
Experts like Shiller and Roubini about see dangers of a double dip recession.
05/13/2010
Prolonged period of zero interest rates that encourage excessive risktaking, and declining confidence levels with higher uncertainty, pose serious dangers.
Linked Articles
Charlie Rose Talks to Nouriel Roubini
BusinessWeek 05/13/2010
Fear of a Double Dip Could Cause OneNew York Times 05/14/2010
Debt woes and how they affect the upturn in Europe.
12/09/2009
Countries like Spain and Greece and how the debt woes affect their economic growth.
Linked Articles
Spain's Debt Woes Echo Europe's Uneven Rebound
Wall Street Journal 12/10/2009
Countries' Debt Woes Pose Risk to UpturnWall Street Journal 12/09/2009
Clearly not a Roosevelt like approach or major change in regulatory structures says Nocera of NYT.
06/17/2009
A lot will now depend on who is in charge and creating a culture where strong regulation is an essential step for proper functioning of markets.
Linked Articles
Obama’s Remarks on Financial Regulatory Reforms
Wall Street Journal 06/17/2009
Only a Hint of Roosevelt in Financial OverhaulNew York Times 06/18/2009
As the government sells $5 trillion in new debt by one estimate, the problem of an estimated $ 1 trillion in troubled assets on the banks books is being put off for another day.
06/04/2009
The FDIC's Legacy Loans Program's $1 billion pilot program attracts no interest. The Public Private Partnership Program of Secretary Geithner, like Secretary Paulson's TARP program before Geithner, is also unlikely to attract much interest as banks are not willing to take the prices that would require them to show large losses on their books. But this means that these problems are postponed for another day.
Linked Articles
Plan to Help Banks Clear Their Books Is Halted
New York Times 06/04/2009
Rising Interest on Nations’ Debts May Sap World GrowthNew York Times 06/04/2009
The NYT editorial questions the wisdom of letting banks like JP Morgan and Goldman Sachs repay government money.
04/26/2009
The heavy lobbying by the banks may skew government decisionmaking, says the NYT, and lead to poor decisions. Banks still face losses in commercial real estate, and the higher unemployment and its effect on the economy could adversely affect their balance sheets.
Linked Articles
New York Times 04/26/2009
Payback TimeNew York Times 06/11/2009
Is the Obama administration too deferential to Wall Street?
04/21/2009
Geithner's ties to Wall Street and tendency to think like Wall Street.
Linked Articles
Economists Seek Breakup of Big Banks
Wall Street Journal 04/21/2009
Geithner, as Member and Overseer, Forged Ties to Finance ClubNew York Times 04/27/2009
FT's Martin Wolf looks at Simon Johnson's argument that Obama is avoiding the tough choices because he has succumbed to pressure from financial elites.
04/14/2009
Wolf looks at Simon Johnson's argument about Obama's dithering on the tough issues like that of insolvent banks, and says America is not like Russia where financial elites controlled the government's way of responding into and out of a crisis.
Linked Articles
Unknown 04/15/2009
Text of Obama Economic SpeechBusinessWeek 04/14/2009
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
The financial crisis poses a challenge to the idea of a single European Community, the EU itself.
02/26/2009
The countries of Eastern Europe and the banks of western European countries are enmeshed in a growing financial crisis that threatens the unity of Euope, and the idea of the European Community. What kind of help will Germany and other nations of western Europe provide. Will this be differentiated by different groups of countries like the Baltics different from Hungary, Poland, Romania, and the Czech Republic, and how will leaders like Angela Merkel of Germany negotiate the political winds, as she faces an upcoming election.
Linked Articles
The bill that could break up Europe
Economist 02/26/2009
Sweden Aids Bailout of Baltic NationsNew York Times 03/13/2009
Consumer goods companies feel the effects of this recession.
02/23/2009
As cash strapped consumers make their largest purchases following the paycheck cycle, how deep this recession is turning out to be becomes evident. Lately the drops in the Dow Jones average reflect declines in consumer goods companies like Procter and Gamble.
Linked Articles
Consumer-Goods Makers Heed 'Paycheck Cycle'
Wall Street Journal 02/23/2009
Stock-Market Pullback Isn't Just 'Financial' NowWall Street Journal 02/23/2009
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
Te Capps and the Muirs in Boise, Idaho, and the national savings rate.
01/02/2009
How the Capps and the Muirs, two couples in their thirtes and forties and their families are scrimping and saving like older generations of Americans. The implications of this for the national savings rate which is forecast to reach 10% by Goldman Sachs in 2009. What this means for consumption spending according to Rodriguez, and why the economy may be setting up for a longer downturn approaching ten years.
Linked Articles
Hard-Hit Families Finally Start Saving, Aggravating Nation's Economic Woes
Wall Street Journal 01/06/2009
The Doomsayers Who Got It RightWall Street Journal 01/02/2009
Who is the sucker in this war? Mohamed Hanif and Thomas Friedman offer two perspectives on the Afghan war.
07/31/2010
Mohamed Hanif of the BBC's Urdu Service gives the view of ordinary Pakistanis outside of the small military and civilian elite that runs Pakistan. They are just looking in and are more interested in the electricity that can illuminate a village, than with an obsession for India. Pakistan has lagged in economic development and has no emerging middle class like India. Friedman of the New York times sees America a the sucker in this game, but is oblivious to the feeling of ordinary Pakistanis who were never part of this.
Linked Articles
In Pakistan, Echoes of American Betrayal
New York Times 07/31/2010
The Great (Double) GameNew York Times 07/31/2010
The legacy of the siege of Leningrad (St. Petersburg) as Russia faces the post -1990's period
03/05/2010
The legacy of the siege shared by ordinary Russians like writer Chizhova and political leaders like Putin.
Linked Articles
A Writer Invites Russia to Engage Its Painful Past
New York Times 03/05/2010
Vladimir Putin Describes Loss of a Brother at CeremonyNew York Times 01/27/2012
Shrinking news coverage and fewer journalists in the newspaper shift to digital online
11/25/2009
It says a lot about the changes underway in the newspaper industry when a paper like the Washington Post closes its bureaus in New York, Chicago and Los Angeles, and covers the news there with travelling reporters. As local newspapers such as the New Orleans Times- Picayune move to three editions a week and an online edition, the number of journalists overing the area around New Orleans will shrink by a third in 2012. Advance Publications which runs the New Orleans paper will do the same for its papers in Huntsville and Birmingham i in Alabama.
Linked Articles
New Orleans Times-Picayune to limit printing to three days per week - The Washington Post
Washington Post 05/25/2012
Washington Post shutters last U.S. bureausWashington Post 11/25/2009
Bernanke's views on how the underutilization of labor in todays markets should make inflation less of a threat.
06/11/2009
Remarks by Bernanke to the Open Market Committee of the Fed in 2003, have a relevance to the situation facing the economy today. Rising raw materials prices and the falling dollar are likely to have a muted effect on inflation. The impact of slowing wages and the high unemployment and growing underutilization of labor, in the midst of a manufacturing capacity utilization rate of 68% and continuing to fall, are likely to be the deciding factors.
Linked Articles
Slack Labor Markets Will Hold Down Prices
Wall Street Journal 06/23/2009
Get Ready for Inflation and Higher Interest RatesWall Street Journal 06/11/2009
The $5 trillion in new debt expected for 2009-2010, will become harder to reverse if the rising foreclosures weaken any recovery.
06/02/2009
With 15.4 million homeowners under water and rising unemployment exacerbating the foreclosure rate, and no governement solution in sight, any recovery will be weak. This makes the debt reduction less likely, and weakens prospects for economic growth.
Linked Articles
Rising Interest on Nations’ Debts May Sap World Growth
New York Times 06/04/2009
Foreclosures: No End in SightNew York Times 06/02/2009
Grantham and Zweig express deep skepticism about the stock markets 2nd quarter 2009 recovery.
04/23/2009
Too many of the companies that looked like "garbage" to Zweig have gone up steeply, and Grantham expresses the same skepticism when he says 'the junky companies have been diluted like hell just to keep them alive."
Linked Articles
Economist 04/23/2009
Wall Street's Clearance Sale Leaves Few BargainsWall Street Journal 06/06/2009
With bank lending anemic and consumers adopting afrugal lifestyle, two pillars of recovery are missing in the picture.
04/16/2009
Admirable rhetoric and clear ideas, but still falling short in key areas like foreclosure prevention and bank lending, is how the Obama economic recovery sccorecard reads in April 2009.
Linked Articles
When You're Flush, But Acting Flat Broke
Washington Post 04/16/2009
Lending By Bailout Recipients Falls AgainWashington Post 04/16/2009
Bogle at Vanguard Group says we live in an agency society where agents like pension fund managers and mutual fund managers make decisions for us.
04/12/2009
Its this agency society and not an ownership society that we have syas Bogle. Ownership society was 50 years ago. And what did these agents do, they did not ask the questions and exercize their civic obligations in the business sense, which means scrutiny for things like selection of board members, corporate governance, executive compensation and conflicts of interest, and dilution of responsibility where it has to be exercized. Here private equity firm Carlyle Group is shown to have given millions of dollars to get access to New York State pension fund investments in Carlyle Group. In the process pension fund managers made millions of dollars, and Bogle's agents have sold their obligations to fiduciary responsibility.
Linked Articles
He Doesn’t Let Money Managers Off the Hook
New York Times 04/12/2009
N.Y. Pension Deals Seen as Focus of Wide InquiryNew York Times 04/14/2009
To just be where America was in 1999, household debt has to drop 30%!
03/11/2009
The movement among Americans like Mr Bailey in Boise, Idaho, to get debt free, is going to be as big a factor as the toxic assets at banks, and foreclosuresin housing, in the fundamental changes that are going on in the economy that will last for years, decades. These are conservative lending, government lending to make up, savings, less consumption and scrapping or sale of unneeded factory capacity (plant) to developing countries.
Linked Articles
Deleveraging: It's Not Over Till It's Over
Wall Street Journal 03/11/2009
Frugality Forged in Today's Recession Has Potential to Outlast ItWall Street Journal 04/06/2009
Consumer goods companies are feeling the effects of this recession.
02/23/2009
As cash strapped consumers are making their largest purchases following the paycheck cycle at the beginning of the month signs of how deep this recession could get are emerging. The recent drops in the DJ Average reflect declines of consumer goods companies like Procter and Gamble.
Linked Articles
Consumer-Goods Makers Heed 'Paycheck Cycle'
Wall Street Journal 02/23/2009
Honda Names New Chief ExecutiveNew York Times 02/24/2009
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 government spending if effectively targeted to productive purposes can have a multiplier effect.
01/22/2009
Government spending that can have amultiplier effect, reduce social costs and not lead to crowding out of private investment. The pardox of thrift in economic downturns and the role of government spending and private savings in a situation like what the USA faces in 2009 and coming years.
Linked Articles
Government Spending Is No Free Lunch
Wall Street Journal 01/22/2009
Go Ahead and Save. Let the Government Spend.New York Times 02/15/2009
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