thedailybell.com / By Staff Report / WEDNESDAY, JUNE 19, 2013
Corrupted credit ratings: Standard & Poor’s lawsuit and the evidence … In response to the civil lawsuit filed by the US Department of Justice in February 2013, Standard & Poor’s affirms that its ratings were “objective, independent and uninfluenced by conflicts of interest”. This [...]
dailyreckoning.com / By Paul Volcker / June 18, 2013
When I became chairman of the Federal Reserve, there was a general feeling in this country that economic affairs, and inflation in particular, had reached a kind of crisis point. Things were not going very well. There was a feeling of uncertainty. There [...]
market-ticker.org / By Karl Denninger / June 17, 2013, 10:51
There’s dumb and then there’s really dumb.
The executive of Sacramento County in California recently attributed the increase in his county’s pension costs to “investment losses during the recession.”
The official, Brad Hudson, is right that public pension costs are growing, [...]
zerohedge.com / by Tyler Durden / 06/17/2013 15:10 -0400
A sense among investors that the global economy is unraveling has injected tremendous volatility into the markets. As Bloomberg’s Rich Yamarone notes, if the global equity market decline is not a “Sell in May” event, but the beginning of a great unwinding, then the economy, [...]
thedailybell.com / By Staff Report / MONDAY, JUNE 17, 2013
NEW TIME POLL: Americans Believe Country Heading In Wrong Direction … A majority of Americans believe the country is heading in the wrong direction, according to a new TIME poll, with President Barack Obama‘s approval and disapproval ratings essentially tied. Fifty-eight percent of those [...]
mauldineconomics.com / By John Mauldin / June 15, 2013
Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again.
- John Maynard Keynes, A Tract on Monetary Reform
There can be few fields of human [...]
leap2020.eu / By GEAB N°75 / June 16, 2013
The 2008 shock was certainly violent, but the reactions of the system, countries and central banks with their bailouts on an unprecedented scale, managed to hide the worst consequences: downgrading of the West in general and the United States in particular, a forced [...]
streettalklive.com / by Lance Roberts / Friday, June 14, 2013
I have been writing extensively about the data behind the headline media reports and discussing the importance of the underlying data trends relative to the broader macroeconomic perspectives. However, it is sometimes helpful just to view the various economic indicators and draw [...]
rickackerman.com / By Rick Ackerman / June 12, 2013
Well, that’s two straight Tuesdays that U.S. stocks have fallen. Has Wall Street finally noticed that the real estate sector – the only big winner in American’s sham “recovery” besides the stock market itself – is starting to deteriorate? Hard to say, although lately, we’ve had [...]
dailyreckoning.com.au / By Dan Denning / June 11, 2013
Fidelity analyst Heather Hagerty says a lower Australian dollar is beneficial but the speed of the currency’s decline ‘is the real problem’. Translation: the lower dollar will be good for mining businesses, industrial stocks, and exporters. But if the currency falls too far too fast, it [...]
mises.org / By Martin Masse / June 11, 2013
Most European economies have been in recession, or close to it, since the beginning of 2012. Unemployment rates are reaching record highs. Meanwhile, a debate has been raging about the deleterious effects of “austerity” measures. Various heads of government, finance ministers, and European Union officials have [...]
lfb.org / By Frank Karsten / June 10, 2013
Like the U.S., many democratic nations are suffering from permanently high unemployment, staggering public debts and budget deficits, and a deep economic recession. Although many people blame politicians for their problems, virtually no one ever considers blaming the democratic system for our woes. [...]
yanisvaroufakis.eu / By Yanis Varoufakis / June 9, 2013
DW’s most recent Top Story focused on the IMF’s report of Greece, and its famous Mea Culpa. DW quotes my view that ”… IMF economists are considering an exit from the Troika and are now paving the path for it… They don’t want [...]
shtfplan.com / By Mac Slavo / June 7th, 2013
Something is wrong. Very, very wrong.
Our economy is, as it has been for many years, on the brink of collapse. They may not have announced it officially just yet, but recent data suggest that we are most certainly in another recession (we may never [...]
zerohedge.com / by Tyler Durden / 06/06/2013 15:00 -0400
Some are surprised that inflation has failed to take off despite massive amounts of quantitative easing. The explanation, ECRI explains, is simple: recession kills inflation. For all the talk of the wealth effect, demand is falling and deflation is closer than at any time since 2009. [...]
theeconomiccollapseblog.com / By Michael Snyder / June 5th, 2013
A lot of things that have not happened since the last recession are starting to happen again. As you read the list below, you will notice that the year “2009″ comes up again and again. There is a reason for that. Many of the same [...]
thedailybell.com / By Staff Report / June 4, 2013
The Economist explains… How did the global poverty rate halve in 20 years? Poverty is easy to spot but hard to define. America sets its poverty line at $11,490 of income per year for a one-person household, or just over $30 a day. Any income [...]
gainspainscapital.com / By Graham Summers / June 4, 2013
As warned previously on these pages, the US is in a recession… again.
The latest ISM reading came in at 49. Any reading below 50 is considered recessionary. And an ISM of 49 is the worst in four years.
The Fed, as usual, is oblivious [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / June 03, 2013 5:08 PM
With most of Europe in a nasty recession, and significant parts of it (Spain, Greece, Cyprus, Italy) in an outright economic depression, I wonder why it took so long for the IMF to Reduce Germany GDP Forecast.
marketoracle.co.uk / By Robert M. Williams / Jun 02, 2013 – 02:07 PM GMT
You’re not to be so blind with patriotism that you can’t face reality. Wrong is wrong, no matter who does it or says it. – Malcolm X
Over the last couple of months we’ve heard the IMF, ECB and US Federal [...]
shtfplan.com / By Mac Slavo / June 3rd, 2013
One year ago this month it was revealed that throughout the course of this crisis some 40% of all wealth in America had been vaporized. It was a stunning number to be sure, and one that many analysts predicted would reverse as the Bernanke/Obama recovery [...]
theeconomiccollapseblog.com / By Michael Snyder / June 2nd, 2013
This is no time to be complacent. Massive economic problems are erupting all over the globe, but most people seem to believe that everything is going to be just fine. In fact, a whole bunch of recent polls and surveys show that the American people are [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Thursday, May 30, 2013, 4:27 AM
The last thing a country in recession should do is raise taxes. Well, Spain is in a depression, not a recession yet the EU requires Spain to raise the VAT and lower pension benefits within a year.
zerohedge.com / By Tim Price / May 30, 2013, 09:27 -0400
The European Central Bank warned yesterday that six quarters of recession are eroding the resilience of banks and risk ending what it describes as ‘the calmest period in financial markets since 2011′. As Bloomberg’s Niraj Shah notes, the Bloomberg Euro-area Financial [...]
lfb.org / By Douglas French / May 29, 2013
The dream of virtually every American is to retire as early as possible. Who doesn’t want to have each and every day to do exactly what he or she wants to do?
Sure, for some people, that would be work. They like having [...]
zerohedge.com / by Tyler Durden / 05/27/2013 15:42 -0400
With every passing day, the destructive consequences of Ben Bernanke’s ruinous monetary policy on the broader economy become more and more apparent.
Nowhere is this more evident than the observation of a record high stock market – benefiting just a tiny portion of the population [...]
mybudget360.com / By mybudget360 / May 26, 2013
The personal saving rate in the United States is on a multi-decade decline. Part of this has to do with Americans putting their money into alternative savings vehicles like 401ks and IRAs but a large part of this has to do with Americans simply not saving. Roughly [...]
dailyreckoning.com.au / By Greg Canavan / May 24, 2013
Yesterday was a doozy, wasn’t it? Where to start?
The Aussie dollar fell below 97 cents. The ASX200 fell more than 100 points, or around 2%. The Nikkei collapsed over 7%, after starting the day rallying mindlessly. The index experienced a 1,000+ trading range. We also [...]
financialsense.com / By John Butler / May 23, 2013
In this Edition
In an age of economic policy activism, including widespread quantitative easing and associated purchases of bonds and other assets, it is perhaps easy to forget that foreign exchange intervention has always been and remains an important economic policy tool. Recently, for example, Japan, [...]
thedailybell.com / By Staff Report / THURSDAY, MAY 23, 2013
The European Union‘s unending quandary … The pace of European disintegration continues to quicken. Recession deepens in the 17-member euro zone; it is now the longest downturn since the currency was launched in 2000. The union will survive only by becoming minimalist. Europeans – who [...]