Consumer Confidence Dives; Treasury Yields Plunge to April 2009 Levels; An Economic Depression is Here – Congress, the Fed to Blame
Is that a 3-handle I see on the long bond and a 2-handle of the 10-year treasury? Why yes it is. Treasury Yields – Weekly Close click on chart for sharper image The week is not over yet but this looks rather ominous. Treasury yields are back where they were in April of 2009 at [...]
Read MoreAre Republicans Balking at Stimulus in an Election Year Because They Want to Raise Unemployment?
The Post noted that Congress has been relecutant to extend unemployment benefits inspite of the evidence that they will boost the economy. It then told readers that: “Congress is balking at the added expense in an election year, as Republicans accuse Democrats of out-of-control spending and as many rank-and-file Democrats struggle to justify an increase [...]
Read MoreDeath and Ironing Boards at the Washington Post
Last week the Washington Post devoted a major front page story to a report on tariffs on Chinese ironing boards that can be as high as 150 percent. Today a page 2 article reported on evidence that a popular diabetes drug, Avandia, increases the risk of strokes and heart attacks. The Avandia article never discussed [...]
Read MoreIreland’s Economy Is Still Being Managed by People Too Incompetent to See a Massive Housing Bubble
It might have been worth pointing this out in an NYT piece telling readers how Ireland’s deficit reduction has devastated the country and still left it with large deficits. It also might have been worth talking to an economist who could have pointed out that it is not just markets that are forcing Ireland to [...]
Read MoreThe Price We Pay For Budgetary Murder
Inquiring minds are reading an interesting article by Alex Daley at Casey Research. Please consider We Cannot Afford to Double Dip. For the first time in a long time, developed governments in Europe and the U.S. face the specter of sub-AAA credit ratings and rapidly rising costs of borrowing more. Between rising borrowing costs, the [...]
Read MoreYet Another Keynesian Clown Steps Up to the Plate: Leo Kolivakis at Pension Pulse
The Keynesian clown hit parade just keeps on rolling. Leo Kolivakis at Pension Pulse is the latest to put on the clown hat for The Third Depression? Some economists are worried about the push to slash deficits too early. In his op-ed piece in the NYT, Paul Krugman goes as far as calling for The [...]
Read MoreKim Jong Il, the reformer?
Bradley Martin, author of Under the Loving Care of the Fatherly Leader, writes in the Global Post: Now that food shortages reportedly have forced North Korea to reverse its crackdown on capitalist-style markets, more systematic reforms for its collapsed economy may not be far behind. The markets policy reversal came May 26 in directives issued [...]
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