The unemployment insurance weekly claims report revealed that the number of persons filing an initial claim rose 3,000 this past week to 608,000.  While these are still very high numbers, they are the lowest since January, suggesting that claims have peaked in this cycle. Nevertheless, jobless claims are not falling back nearly as quickly as [...]

Last month I said that June was significant for two reasons.  First, we are going to get our first test of data that could disappoint, which would spell trouble for an overbought market. But, just as important, we need to watch the industrials because there is going to be no sustainable recovery unless these cyclical [...]

It’s not just California.  Tax revenue is falling everywhere.
State income-tax revenue fell 26% in the first four months of 2009 compared to the same period last year, according to a survey of states by the nonprofit Nelson A. Rockefeller Institute of Government.
The report, conducted by the public-policy research arm of the State University of New [...]

This one is due out tomorrow.  His review is pretty favorable.  But, he does say its not a must upgrade if you already have an iPhone.

IPhone 3G S Review Roundup – PCWorldA lot of good things are being said about this new phone, available starting Friday.
Beaked, Bird-like Dinosaur Tells Story Of Finger Evolution – Science Daily“Scientists have discovered a unique beaked, plant-eating dinosaur in China. The finding, they say, demonstrates that theropod, or bird-footed, dinosaurs were more ecologically diverse in [...]

If you listen to the criticism from the right and from the left, from pro-regulation and anti-regulation pundits, you can understand the political constraints which produced the white paper which the President unveiled yesterday.  Given those constraints, I consider the white paper a good effort.
My initial reaction, therefore, was largely positive. However, upon further reflection, [...]

This is the video via Bloomberg News.  I will have more to say later today or tomorrow and provide a clip from a BBC Radio Five Live interview I did immediately following the speech.

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Having read through the draft of President Obama’s financial regulatory proposal, my initial reaction is largely positive.  He sets the right tone and says all of the right things.  However, the devil is in the details and we will need to see how these firm up as these ideas become law.  In my view, there [...]

A full draft is now available at the New York Times here.  Speech is scheduled for 12:30PM with Obama speaking at 12:50PM.  I expect to be giving a reaction via BBC News Five Live at 1:20PM EDT/620 UK time.
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This morning I was reading Simon Johnson’s excellent post “President Obama’s Regulatory Reforms Announcement: A Viewer’s Guide” about what Barack Obama should say when he makes his regulatory reform pitch today at 12:30 PM.  I agree with what he has to say about the need to re-assure us his ‘administration ‘gets it.’  And I suggest [...]