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The huge downsizing in the auto industry creates the need for big government supported initatives in retraining.
05/21/2009
Vicotr Brown and the 60,000 former workers at GM's BUick City have worked at GM all their lives, and can't imagine anything else. How does one get them from joining the ranks of the permanently unemployed, is a challenge for the government. THe labor underutilization rate expected to reach 20% for 2010, could threaten the economic recovery, and put everything at risk.
Linked Articles
Stuck at Unemployed: When A Layoff Becomes a Lifestyle
Washington Post 06/06/2009
The Last Holdouts Cast Their Lot With G.M.New York Times 05/21/2009
Laffer says inflation and high interest rates are a sure thing with the $1 trillion increase in the monetary base since Sept 2008.
04/23/2009
This is the largest increase in the monetary base in the last 50 years by afactor of 10, and is unlike anything ever experienced before. He sees inflation and rising interest rates as a result surpassing anything seen in the 1970's. Bernanke he says faces a Hobson's choice between contracting the monetary base and putting the economy back in recession and letting things go the way they are resulting in steep inflation. He sees the Fed having the option of increasing the reserve requirements at banks, to restrain the increase in the monetary base.
Linked Articles
Economist 04/23/2009
Get Ready for Inflation and Higher Interest RatesWall Street Journal 06/11/2009
The gap between the admirable comments and clarity of Obama's Georgetown sppech and the growing foreclosures, dramatic drops in business and consumer lending.
04/14/2009
Failure to stem foreclosures and to ramp up business and consumer lending, by taking over insolvent banks and offering loans at attractive rates, is hurting the economy and will lead to further job losses.
Linked Articles
Lending By Bailout Recipients Falls Again
Washington Post 04/16/2009
Text of Obama Economic SpeechBusinessWeek 04/14/2009
Interest rate swap contracts sold by banks to the city of Detroit in 2005 and the "kiko" derivative contracts sold by banks to exporters in S. Korea before the 2008 global financial crisis
04/03/2009
The huge losses suffered by Detroit and by exporters in S. Korea and how the issues raised were handled in the two places. What takes precedence fairness or contracts, how much of a contract has to be intelligible to the investor and the broader question of why banks needed to write such contracts or conduct business in this way which could hurt their reputation. An example is given by Floyd Norris of NYT where Bankers Trust reputation suffered badly in 1994 for selling such contracts to P&G.
Linked Articles
New York Times 04/03/2009
'Safe Harbor' in Bankruptcy Upended in Detroit CaseNew York Times 12/23/2013
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
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
An Alternate View of U.S., and EU relations with Russia from Gates and German public opinion
01/05/2009
A look back at former Defense Secretary Gates views about Russia in the larger context of the postwar years and what it is today, including Georgia (and Crimea) and other issues. A similiar perspective fom the German side as seen by former chancellor Kohl, Merkel, Schroeder, and Ischinger, going back to the days of Wily Brandt. Brandt was Mayor of West Berlin in the period of enormous tensions between the Soviets and the Federal Republic during the sixties and later initiated the policy of constructive engagement.
Linked Articles
Pentagon Chief Sees Opportunities In Russia and the War on Terrorism
Washington Post 01/05/2009
Germany's Angela Merkel Treads Softly With Russia's Putin On UkraineWall Street Journal 04/08/2014
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
With no safey net Chinese savings rate is high and the export model is entrenched pushing Chinese savings into financing American consumption.
11/26/2008
With the collapse of export markets in the U.S., China and the U.S. are now having to face up to the problems inherent in American dependence on Chinese products and Chinese savings to finance excessive consumption, and Chinese dependence on American export markets.
Linked Articles
Chinese Savings Helped Inflate American Bubble
New York Times 12/26/2008
Global Economy: No Help from China's ConsumersBusinessWeek 11/26/2008
The poverty rate and wealth gap between rich and poor in New York city and in China and the rest of the world.
08/27/2008
How the New York City experience compares with China's.
Linked Articles
Poverty Rate Declines in New York
New York Times 08/27/2008
World Bank Finds More People Live in Steep PovertyNew York Times 08/27/2008
ACA- Insuring the CDO's
04/03/2008
The insurance itself was not insurance but a chance to use different accounting rules to take the issuance of collateralized debt obligations to new heights. ACA was an outfit by the river issuing flood insurance. It had an A rating and was supposed to insure AAA securities.
Linked Articles
BusinessWeek 04/03/2008
Building WonderlandNew York Times 04/06/2008
The increase in temporary workers in the U.S. and Japan and the consequences in higher inequality and poverty.
01/07/2008
About one third of workers in Japan, and one fourth in the U.S., are temporary workers. The consequences for Japan include the effects of lower consumer spending in the economy reducing the growth rate.
Linked Articles
The Rise of the Permanent Temp Economy
New York Times 01/26/2013
Growing Reliance on Temps Holds Back Japan's ReboundWall Street Journal 01/07/2008
The weakness of the dollar in 2007.
11/01/2007
The decline in the value of the dollar and how it affects the Persian Gulf countries which have pegged their currency to the US dollar.
Linked Articles
Falling Dollar, Inflation Feed Dubai Strife
Wall Street Journal 11/01/2007
Losing faith in the greenbackEconomist 11/29/2007
Two scenes-one of Gates and the other of Sgt. Hyland- and the knot that ties them together.
05/15/2009
Scenes of a rainy night at an airforce base in Delaware, as Defense Sec. Gates prays in a 747 with draped coffins of dead soldiers. And the scene of a maimed soldier, Sgt Hyland, weeping in front of a picture of Specialist Jonathan at a battalion hall in Diyala province. near Baghdad. And the relevance to the wars in Iraq and Afghanistan.
Linked Articles
Wounded Soldiers Return to Iraq, Seeking Solace
New York Times 10/15/2009
Pentagon's Gates Keeps Single-Minded Focus on Dual Wars in Iraq and AfghanistanWashington Post 05/15/2009
In the two areas that government can make aserious difference, foreclosure prevention and bank lending it is failing.
04/15/2009
The government has only indirect influence over the other important variables in the equation for economic recovery, consumption and employment. Through foreclosure prevention and bank lending it can influence consumption and employment. Obama's program while admirable may simply fall short of what is required. Through asimple takeover of insolvent banks the administrationcan implement its own programs for goreclosure prevention and aggressive bank lending at attractive rates, but this has to be done early before business go into permanent retrenchment mode and consumers simply revert to a frugal lifestyle of an earlier generation.
Linked Articles
Lending By Bailout Recipients Falls Again
Washington Post 04/16/2009
Banks Ramp Up ForeclosuresWall Street Journal 04/15/2009
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
Peter Eavis thinks the Geithner plan isn't based on sound logic.
03/23/2009
If only the confidence and liquidity were an issue then maybe the Geithner Public Private Investment Program plan might work. But says Eavis, the underlying price structure for these mortgage securities is gone with this crisis,so that the recovery in their price for banks to avoid huge losses is going to be elusive. He cites Credit Sights which estimates losses of US banks through 2010 of $250- $450 billion.
Linked Articles
Treasury’s Got Bill Gross on Speed Dial
New York Times 06/21/2009
Geithner's Gamble Needs SpeculatorsWall Street Journal 03/23/2009
The administration's idea that somehow the bad asset problem can be solved by wishful thinking.
03/06/2009
Can a bad asset at abank really be disposed off through private investors purchases with the help of government money? Under the current circumstances who will decide the value of an asset, and would banks be willing to sell them at 40 cents when they see them worth 50 cents on the dollar?
Linked Articles
Economists Seek Breakup of Big Banks
Wall Street Journal 04/21/2009
The Big DitherNew York Times 03/06/2009
Gates new perspective on the US role in foreign affairs.
01/05/2009
How Gates sees the US role in foreign affairs and its relaions with Russia, the war with extremist Islamic militants, and the ways in which US policies should be reshaped in the new administration.
Linked Articles
Pentagon Chief Sees Opportunities In Russia and the War on Terrorism
Washington Post 01/05/2009
A Balanced StrategyForeign Affairs 01/05/2009
The West and policies towards Russia- (1) Kennan, Gates, Nurick and Allison on American policy in 2015-2016
01/05/2009
Linked Articles
In Cold War Echo, Obama Strategy Writes Off Putin
New York Times 04/19/2014
Pentagon Chief Sees Opportunities In Russia and the War on TerrorismWashington Post 01/05/2009
Detroit News and Free press columnists Tom Walsh and Daniel Howes say its time Detroit gets things right.
12/20/2008
The jobs of suppliers, dealers, bondholders, managers, board members, union officials are all on the line say Walsh and Howes if they can't get their act together and move quickly. There just isn't the time to kick the proverbial can down the road says Howes, and their is bailout fatigue say Walsh and Howes so dates coming up February 17 for debt restructuring and March 31 must be met quickly with action that is convincing. It will be a tough act and its not clear that old management and union officials can measure up to the task ahead from what has been seen over the years according to the columnists.
Linked Articles
Commentary: Forging new path will be rough road for Detroit automakers
Detroit News 12/20/2008
Long Days Journey to Deal for AutomakersDetroit Free Press 12/21/2008
Ford's Fiesta Econetic in the US market as a small car with high mileage.
09/04/2008
With the dollar moving toparity with the pound the opportunities in bringing a high mileage diesel Fiesta to the USA market.
Linked Articles
The 65 mpg Ford the U.S. Can't Have
BusinessWeek 09/04/2008
Sized for the TimesNew York Times 10/19/2008
Leveraging of banks U.S. banks in 2012 under the U.S. Federal Reserve stress tests of March 2012 and the leveraging at the time of Lehman's collapse in 2008
07/16/2008
The high rate of leveraging of banks today compared to 2008, suggests that the U.S. Federal Reserve may have prematurely declared the banks safe, say experts.
Linked Articles
Stressing the Bank 'Stress Tests'
Wall Street Journal 03/14/2012
How Bad Will It Get on Wall Street?BusinessWeek 07/16/2008
How parttime workers are shaping the unemployment picture in the US.
03/08/2008
Just as happened in Japan and continues to this day parttime workers are shaping the USA unemployment picture as employers increasingly resort to parttime workers to cut costs. With underutilized workers the USA unemployment rate reached 12% in October 2008.
Linked Articles
Labor Data Show Pain Across Economy
Wall Street Journal 11/08/2008
More People Pushed Into Part-Time Work ForceWall Street Journal 03/08/2008
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11/20/2007
On the decline of the US dollar and how the countries of the Persian gulf are dealing with this issue.
Linked Articles
Economist 11/29/2007
Wealthy Nations In Gulf Rethink Peg to DollarWall Street Journal 11/20/2007
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