Newsclips
An Updated Look At The Election
May 8, 2012
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Bloomberg.com – Billion-Dollar Traders Quit Wall Street for Hedge Funds Wall Street’s biggest banks have lost almost two dozen of their most-profitable credit traders in the past 13 months as regulators limit the kind of risk-taking that amplified the housing crisis four years ago. As banks slash or defer pay and reduce the amount they’re… Continue reading Quitting Wall Street For More Money
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Comment What is the take-away from the French, German and Greek elections? Simply, austerity is no longer guaranteed. Those elected will attempt to stop the cuts to government spending, benefits and pensions. Instead they will try to retain or expand the European welfare state. The problem with this move toward growth is that the markets… Continue reading The Take-Away From The European Elections
Comment Of all the elections this past weekend, this is the election that is most concerning for the markets. The Greeks voted out the majority coalition between the New Democrat Party and PASOK. This means the pro-bailout coalition no longer has a majority. The Greek bailout was predicated on the Greeks cutting back (austerity) to… Continue reading The Greeks Rebel
The Wall Street Journal – Voter Anger Sweeps Europe Sarkozy Out as Socialist Hollande Wins France French voters elected Socialist Party candidate François Hollande as president Sunday, choosing a national leader who has pledged to shift the burden of economic hardship onto the rich and to resolve the protracted euro sovereign-debt crisis by softening the… Continue reading France Elects A Socialist
The Local (Germany) – Merkel loses power in state election German Chancellor Angela Merkel’s centre-right coalition lost power in the state of Schleswig-Holstein, first estimates showed Sunday, after a vote that could presage national elections next year. Merkel’s Christian Democrats (CDU) scored 30.6 percent, according to ARD public television, with her junior partners at the… Continue reading Merkel Suffers A Defeat
The Wall Street Journal – Running With a Herd on the Street Higher Correlation in Markets Reflects Global Unease; Synchronized Moves Frustrate Stock Pickers Worries about Europe’s debt troubles and concerns that the U.S. economy is slowing have heralded the return of “risk on, risk off” trading—where investors move money en masse into and out… Continue reading The Stock Market
The Huffington Post – California’s Long-Term Unemployed Brace For Sudden End Of Benefits With her anti-poverty budget stretched beyond its limits, Brenda Callahan-Johnson is braced for next Saturday: the day California’s chronically unemployed will be cut off from the nation’s jobless benefits. A drop in the state’s unemployment rate to 11 percent – its lowest… Continue reading End Of Unemployment Benefits
The Enterprise Blog – James Pethokoukis: The awful April jobs report: Is the ‘real’ unemployment rate 11.1%? 1. If the size of the U.S. labor force as a share of the total population was the same as it was when Barack Obama took office—65.7% then vs. 63.6% today—the U-3 unemployment rate would be 11.1%. 2.… Continue reading What Is The “Real” Unemployment Rate?
The Washington Post – Robert J. Samuelson: ‘Battle of the beards’: Paul Krugman vs. Ben Bernanke It’s being called the “battle of the beards” — Paul Krugman vs. Ben Bernanke. Both are eminent (and bearded) economists: Bernanke, chairman of the Federal Reserve Board; Krugman, a Nobel Prize winner and a prominent New York Times columnist.… Continue reading Ben vs. Paul
The New York Times – Stock Trading Is Still Falling After ’08 Crisis Even though American stocks have doubled in price in the last three years, investors and traders large and small keep giving the market the cold shoulder. Trading in the United States stock market has not only failed to recover since the 2008… Continue reading Falling Stock Market Volume