The New York Times – James B. Stewart: Lots of Vitriol for Fed Chief, Despite Facts I fear it’s going to get uglier as the presidential campaign intensifies. Many voters seem determined to find a scapegoat for the financial crisis and its aftermath, and some candidates are only too willing to pander by serving up… Continue reading Defending Bernanke
The Wall Street Journal – John C. Bogle: How the Index Fund Was Born Once derided as ‘Bogle’s Folly,’ the Vanguard 500 Index totals $200 billion Thirty-five years ago, at the completion of its initial public offering on Aug. 31, 1976, the first index mutual fund was born. First Index Investment Trust was sponsored by… Continue reading Index Funds
The Financial Times – Why austerity is only cure for the eurozone There have been calls on regulators to rein in speculators, on the central banks to loosen monetary policy further, on the US and Germany to use their supposed “fiscal space” to encourage demand and on European Union leaders to take an immediate leap… Continue reading Saving The Eurozone
Bloomberg.com – For the Economy, the Real Slam Dunk Is Debt Forgiveness U.S. homeowners don’t need another reduction in their mortgage payments. What they need is a break on their debts. As President Barack Obama prepares to present his job- creation plans to Congress this week, his advisers are studying what some economists have called… Continue reading Refi vs. Principal Reduction
<Click on chart for larger image> The Wall Street Journal – Greek Central Banker Seeks Faster Effort From Athens Greece’s top central banker called on the government to speed up efforts to close the budget gap amid growing concerns elsewhere in Europe that Athens can’t pull itself out of its debt spiral. Bank of Greece… Continue reading Greece
<Click on chart for larger image> The Wall Street Journal – Switzerland Caps Franc Switzerland took drastic action Tuesday to protect its exporters by unilaterally setting a cap on the franc’s exchange rate against the euro, roiling currency markets and setting itself up as a big buyer of euro-zone assets. The announcement by the Swiss… Continue reading The Swiss Ceiling
The Wall Street Journal – What Did Fannie, Freddie Know? The 17 lawsuits filed Friday by federal regulators against some of the world’s biggest financial institutions hinge on a simple premise: The mortgage loans that banks packaged into securities often didn’t meet the underwriting guidelines the banks outlined in their securities filings. The lawsuits, filed… Continue reading Were Fannie & Freddie Really Misled?
<Click on chart for larger image> USA Today – More restaurants are targeting customers who use food stamps The number of businesses approved to accept food stamps grew by a third from 2005 to 2010, U.S. Department of Agriculture records show, as vendors from convenience and dollar discount stores to gas stations and pharmacies increasingly… Continue reading Food Stamps
<Click on chart for larger image> The Wall Street Journal – Italy Pressed to Speed Up Budget Steps Italy’s government is under increasing pressure to ensure quick approval of key economic austerity measures as time runs out for the country to convince markets it won’t be next to fall in the domino-like acceleration of Europe’s… Continue reading Italy
The Wall Street Journal – Jason Zweig: Flash Tax: Why Levies on High-Speed Trading Won’t Work On Wednesday, European Commission President Jose Manuel Barroso stated that he plans to present a detailed plan for a transaction tax by November. Such a tax, which has been proposed at least twice in Congress over the past two… Continue reading High Frequency Trading
Comment Earlier today Jim Bianco was on Reuters TV discussing the the August payroll report and the economy. To view the interview, click on the image above. To view any of our recent interviews click here. Many of the topics discussed in this interview were discussed in our conference call. If you missed it, here… Continue reading Thoughts On August Payrolls/Unemployment
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