Initial Jobless claims rose in the latest week to 627,000 from a revised 612,000.  Continuing claims also rose to 6,738,000, demonstrating that the job market in the U.S. remains weak. Now, back in April and May, I made a big to-do about the fact that most indications suggested that jobless claims were peaking.  In retrospect, [...]

During Alan Greenspan’s tenure at the helm of the Federal Reserve, he was often accused of using monetary policy to target asset markets so as to keep the party going.  In short, Alan Greenspan was seen by many, including myself, as the bubble blower-in-chief. All of this came to an end with the very hard [...]

Congressman Darrell Issa (R-CA) claims to have evidence supporting Ken Lewis’ original contention that he as threatened by government officials for contemplating pulling out of the BofA-Merrill deal.  Let’s review.  Two weeks ago, Lewis pointed the finger at Paulson and Bernanke in testimony before Congress (see my post).  This came after claims of government coercion [...]

Just last week, we saw a parade of banks exiting the dreaded TARP program set up last year by the U.S. government and used to temporarily recapitalize the U.S. banking system.  The banks were able to do so in no small measure because of the unrealistically rosy scenarios in the stress tests used to determine [...]

I was catching up with some of my reading when I happened across a quote from 1930 twice, which led me to write this post on how poor the Obama reform agenda really is. And I want ask you: is Obama Change you can believe in?
The first post by Paul Krugman, “Green shoots, 1930” was [...]

I have bee off for a couple of days but plan on returned to full force later today.  Here are the links from the past few days minus tech and blog-related items.  If I have a lot more links, I will post them this evening.

El Banco de Espana exige que se liquiden los bancos o [...]

The real worry right now should be deflation, as we have not yet beaten back all of the ill deflationary effects of the financial crisis.  Nevertheless, a growing number of market participants see inflation as a longer term worry.  With unemployment high, a cost-wage push will not be part of that equation.  Nevertheless, increases in [...]

Public Support for the Public Option – 538
More evidence that the American public supports a public plan

Obama’s Make-or-Break Summer – Frank Rich, NYTimes
Forget the first 100 days. Obama’s test begins now.

Is it "Schlocky" to Compare Life Expectancies Between Countries? – 538
Good points on healthcare across countries

A Stain to Erase in South Carolina – Kathleen Parker, [...]

Moody’s Joins S.& P. in Warning on California Debt – Deal Book
Always late to the party.

The Plaza Stirs – NY Times
"Few developments rode the wave of high prices in the Manhattan residential real estate the way the 181 condominium apartments at the Plaza Hotel did, and few have chilled as much in the downturn."

China ministry [...]

We expect to have a brief hiccup in service later tonight due to maintenance.  I apologize for the inconvenience.  Hopefully, we will be offline for a very short time.
Regards.
 
Edward
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