Reuters – Soros warns euro crisis could destroy the EU Billionaire George Soros warned on Monday that the euro crisis is growing deeper, tearing at the fabric of European Union cohesion, because policymakers are prescribing the wrong remedies. “I’m afraid that the euro crisis is getting worse. It’s not over yet, and it is going… Continue reading The Euro
Bloomberg BusinessWeek – How to Get a Job … At Bridgewater By Ray Dalio Interest in the subject matter is a minor consideration. Unlike a lot of firms, we look at what someone is like rather than what they did before. We are first interested in people’s values, second interested in their abilities, and least… Continue reading Want To Work At Bridgewater?
The Guardian (UK) – Wolfson economics prize: 11-year-old Dutch boy makes surprise entry An 11-year-old boy from the Netherlands has joined the chorus of people calling for Greece to leave the euro in a surprise entry for the lucrative Wolfson economics prize.Jurre Herman won €100 (£83) in gift vouchers for his devastatingly simple contingency plan… Continue reading From The Mouths Of Babes
None Today
The Wall Street Journal – JON HILSENRATH and CONOR DOUGHERTY: Consumer Price Rise Puts Fed in Quandary The Fed has been predicting since the 2008 crisis that immense economic slack—in the form of unemployed workers, vacant homes and idle factories— would hold inflation down because it would make it more difficult for firms to raise… Continue reading Is Inflation A Problem?
Bloomberg.com – Geithner Urges U.S. Lawmakers to Leave Drama Out of Debt Limit U.S. Treasury Secretary Timothy F. Geithner warned Congress against repeating last year’s “very damaging” debate over the debt limit and said the economy is stronger than at any time in the past several years. “It would be good for the country, if… Continue reading The Debt Ceiling By Labor Day!
The Financial Times – Investors brace for a market re-run of 2011 Intense worries about the future of the euro, followed by a dissipation of sovereign debt woes and better economic news. But then the debt crisis flares up just as the economic data start to wobble. Sound familiar? Investors are asking if 2012 is… Continue reading 2011 Redux
Barron’s – The Great Bond Conundrum Investors looking for yield face slim pickings these days—and serious risks. Some top advisors offer recommendations on how to get decent income Investors are facing paltry fixed-income yields these days, but turning to longer-term bonds to boost yield could make things much worse, many financial advisors agree. “In our… Continue reading The Bond Market
<Click on chart for larger image> Bloomberg.com – Spanish Minister Asks ECB to Buy Bonds as Crisis Deepens A Spanish minister called on the European Central Bank to do more to stem the sovereign debt crisis as the cost of insuring the country’s bonds against default surged to a record. “They should step up purchases… Continue reading The Pain In Spain Continues
Bloomberg BusinessWeek – Could the Fed Lose Money? Would It Matter? If for some reason the Fed did lose money, there would be no real economic effect but there could be a political blowback, Feroli says. “There is a risk that the headline ‘Fed Loses Money’ could lead to an embarrassing political situation.” Not wanting… Continue reading Can The Federal Reserve Lose Money?
<Click on chart for larger image> The New York Times – Profits Have Stalled. Has the Market? WHILE the stock market was soaring during the last two quarters, a big worry was hanging over it: corporate earnings growth was slowing. Still, bullish investors could take comfort that stocks were cheap by most standards. When it… Continue reading Earnings
Barron’s – JONATHAN R. LAING: What a Drag! At $1 trillion and climbing, the growing student-loan debt could be a burden on economic growth for decades to come You don’t need a Ph.D. in math to know that student-loan debt is compounding at an alarming rate. In the last six weeks alone, two new government… Continue reading Student Loans, The Next Sub-Prime?