The New York Times – Policy Options Dwindle as Economic Fears Grow THE American economy is once again tilting toward danger. Despite an aggressive regimen of treatments from the conventional to the exotic — more than $800 billion in federal spending, and trillions of dollars worth of credit from the Federal Reserve — fears of… Continue reading How To Save The Economy
Bloomberg.com – Sell Signal on 36% Profit Increase Has Analysts in Math Denial For the first time since at least 1997, fewer than 29 percent of ratings for stocks covered by brokerages worldwide are “buys,” according to 159,919 recommendations compiled by Bloomberg. Analysts are turning more pessimistic even as they push up estimates for profit… Continue reading The Stock Market
The Wall Street Journal – Modest Measures Fail to Contain Yen Japan’s government offered a modest stimulus package Monday and the central bank took steps aimed at curbing the rising yen, but a tepid reaction from markets leaves policy makers under pressure to do more. The government “announced the outline of the package today to… Continue reading Save The Yen
The Financial Times – Wolfgang Münchau: Germany’s rebound is no cause for cheer One of the weirder experiences for anyone who lives in the eurozone is a visit to a German supermarket. I had the pleasure the other day, and found the general price level there to be a little over half of what it… Continue reading Germany
Calculated Risk (blog) – Schedule for Week of August 29th —– Monday Aug 30th —– 8:30 AM ET: Personal Income and Outlays for July 2010. The consensus is for a 0.3% increase in both income and spending (compared to June). The core PCE Price Index is expected to increase 0.1%. 10:30 AM Dallas Fed Manufacturing… Continue reading A Busy Week
The Wall Street Journal – Bankers Say Global Recovery Likely to Stay on Track Current and former central bankers from around the world said an uneven global economic recovery was likely to stay on track despite worries about the vitality of the U.S. economy. At an annual Federal Reserve retreat, angst, not panic, was the… Continue reading Two Views On The Recovery
The Financial Times – ECB likely to extend emergency bank support The European Central Bank is expected this week to extend emergency support for eurozone banks until early next year as it gauges how well the 16-country region might withstand a big US or global slowdown. Eurozone growth is exceeding the ECB’s expectations, and signs… Continue reading The ECB
The New York Times – Bernanke Manages Expectations for Fed Role Federal Reserve officials and economists appear increasingly united in their view that the partisan gridlock on fiscal policy in Washington has clouded the prospects for a faster and stronger recovery. The Fed chairman, Ben S. Bernanke, who has assiduously avoided taking sides in fiscal… Continue reading Gridlock
(h/t The Big Picture)
The Associated Press – Bernanke’s top tool now may be power of persuasion Bernanke’s best tool now to revive the economic recovery may be his powers of persuasion That’s the test facing Fed Chairman Ben Bernanke as he addresses a conference Friday in Jackson Hole, Wyo. Without any easy options left, Bernanke must try to… Continue reading Bernanke Speaks Today
Conservators Rpt 82610 The New York Times – An Autopsy of Fannie Mae and Freddie Mac Here’s a last-minute option for summer reading material: An autopsy on Fannie Mae and Freddie Mac by their overseer, the Federal Housing Finance Agency. The report aims to inform the continuing debate in Washington about the future of the… Continue reading Analyzing Fannie And Freddie
<Click on chart for larger image> <Click on chart for larger image> The Burning Platform ( Blog) – THE GREAT DELEVERAGING LIE One has to wonder whether the mainstream media and the clueless pundits on CNBC actually believe the crap they are peddling or whether this is a concerted effort to convince the masses that… Continue reading Where Is The Deleveraging?