The Wall Street Journal – Paul Ryan: Here’s How We Can End This Stalemate Both Reagan and Clinton negotiated debt-ceiling deals with their opponents. We’re ready to negotiate. The president is giving Congress the silent treatment. He’s refusing to talk, even though the federal government is about to hit the debt ceiling. That’s a shame—because… Continue reading How To Get A Deal
The Wall Street Journal – IMF’s Pessimism on Global Growth Widens The International Monetary Fund cut its world growth forecast Tuesday amid deteriorating emerging-market prospects, urging authorities to shore up their economies as the U.S. prepares to exit its easy-money policies and wrestles with a budget impasse that threatens to derail the global recovery. In… Continue reading The IMF Cuts Its World Growth Forecast
Zero Hedge – Economic Confidence Collapses At Fastest Pace Since Lehman Last week we showed the cognitive dissonance, nurtured by a liquidity-providing Fed, that has growth this year between stocks and economic confidence. In the last week, fed by a diet of DC headlines, Gallup’s economic confidence index has collapsed. In fact, this is the… Continue reading Confidence In The Economy Falls
The Financial Times – US default would send markets into a panic Is the US the new Italy? Certainly it is demonstrating comparable levels of political dysfunctionality with the government closure and debt ceiling fiasco. Or is the more appropriate parallel Belgium, which recently spent the best part of two years without political leadership as… Continue reading Recession Talk
Comment Jim Bianco was a guest host on Bloomberg TV’s Street Smarts program yesterday. In this segment he discusses payment prioritization. If you missed the interview, click on the image above. To view any our recent interviews click here. Bloomberg.com – Caroline Baum: Don’t Blame the Computers for a Default The U.S. government would have… Continue reading The Math Behind Payment Prioritization
Comment Jim Bianco was a guest host on Bloomberg TV’s Street Smarts program yesterday. In the two segments above, Jim discusses CDS spreads and the possibility of U.S. default. If you missed the interview, click on the image above. To view any of our recent interviews, click here. <Click on chart for larger image> Bloomberg.com… Continue reading Discussing A U.S. Default
The Wall Street Journal – Top Bankers Warn on U.S. Debt Proposal Top Wall Street executives are warning that any effort to pay interest on U.S. debt before other obligations such as Social Security, a strategy some lawmakers think would placate bond investors if the government breaches its borrowing limit, would pose severe risks to… Continue reading Bankers Weigh In On Payment Prioritization
The Wall Street Journal – Jon Hilsenrath: Tense Negotiations Inside the Fed Produced Muddled Signals to Markets The Federal Reserve’s decision to continue one of the most audacious experiments in monetary history—an $85 billion-a-month bond-buying program designed to boost growth—followed six months of tense negotiations inside the central bank, and a stumbling effort to let… Continue reading Hilsenrath Explains The FOMC Minutes A Day Before They Are Released
MarketWatch.com – A one-month shutdown risks triggering 20% to 30% correction: Barry Ritholtz A government shutdown that drags on for a month or longer could trigger a 20% to 30% correction in the market, Barry Ritholtz said in an interview with Yahoo Finance. The U.S. is kicking off its second week of a partial shutdown,… Continue reading Measuring The Effect Of A One-Month Shutdown
Zero Hedge – Paul Singer: The “Trapped, Harmful” Fed “Revels In The Role Of Atlas, Holding Up The World” “The future is something that is not something you can peer into from today. It will matter tremendously if confidence is lost. How can confidence be lost? Confidence can be lost in some combination of a… Continue reading Billionaire Hedge Fund Managers Bash The Federal Reserve
<Click on chart for larger image> CBS News – Disability, USA There is a Senate hearing scheduled tomorrow on a subject of some importance to millions of Americans, but with the government shutdown it’s not clear that the Senate Committee on Government Affairs will be able to pay for a stenographer to record the event.… Continue reading Disability In The U.S.