by Peter Orszag “In a speech last month about the financial crisis, Federal Reserve Chairman Ben S. Bernanke trenchantly noted that the initial losses from…
Durable goods orders rose 8.7% In February versus January on a nominal, not seasonally adjusted basis. The mainstream media reported only the 2.2% seasonally massaged…
Three weeks ago (Link) I put on a short EURUSD position at 1.3115. It worked for a few hours, and then went south. I sucked wind and damn near got to where I had to cut it at a loss. Today the market got back to where I entered, so I dumped it. While I…
The SP futures (or ES electronic mini S&P) have been drifting sideways since yesterday afternoon. Where have I heard that before? This is getting old.…
Boom For Whom
While I’m talking about inequality and the crisis, I realized recently that there’s another channel not usually talked about, via the misperception of success.
Let me start with a puzzle: why did faith in the wonders of financial de…
MANY of the world’s financial and economic woes since 2008 began with the bursting of the biggest bubble in history. Never before had house prices risen so fast, for so long, in so many countries. Yet the bust has been much less widespread than th…
On the bright side, stocks could’ve done a whole lot worse given the persistent deterioration in Europe. First, the scoreboard:
Dow: -25.6 pts, -0.2%
S&P 500: -3.1 pts, -0.3%
NASDAQ: -18.5 pts, -0.8%
And now, the top stories:
After being closed f…
Three years after Iceland’s banks collapsed and the country teetered on the brink, its economy is recovering, proof that governments should let failing lenders go bust and protect taxpayers, analysts say.
The North Atlantic island saw its three b…
California and Bust:
http://www.vanityfair.com/business/features/2011/11/michael-lewis-201111
Though he closes with this nod to magical outcomes:
When people pile up debts they will find difficult and perhaps even impossible to repay, they are say…
Holy Housing Bust, Batman!!
http://www.youtube.c…#watch-headline