Even the Wall Street Journal Knows!
Inequality is getting so bad even conservatives have started to acknowledge it. But that doesn't mean they'll do anything serious to make it better.
Latest news (Page 99)
Quantitative Easing Fails To Get Banks To Lend
Analysis from FT Alphaville. Here are the main ideas: The Deputy Governor's remarks on 'quantitative easing'
Israel/Palestine: "Breakthrough" Imminent?
Two UK broadsheet dailies seem to be saying so: From The Guardian From The Independent
Wednesday's Recommended Reading
On China's stimulus, by a (sort-of) insider. Interesting how the author faces up to some serious problems, but
Labor Leader To Head New York Fed
Yves Smith thinks it's a gimmick, but one that may have some unexpected consequences. Tuesday, August 25, 2009
Today's Indicators
US new home sales increased almost 10% more than forecasted in July, and, perhaps more important, unsold inventories dropped to
Fed Ordered To Disclose Emergency Loan Details
From Bloomberg (the plaintiff, no less): Court Orders Federal Reserve to Disclose Emergency Loan Details By Mark Pittman Aug. 25
Changed Relation between Intellectuals and Poor
Interesting Guardian piece by David Edgar, formerly of Marxism Today: In the new revolution, progressives fight against, not with, the
Yves Smith: Banks Sitting on Bad Mortgages
More reason to view Case-Shiller data with caution: increased buying activity is only one side of the problem. Naked Capitalism
Senate Republicans To Block Health Co-ops
According to this Financial Times report. Co-ops are a totally insufficient substitution for the less-than sufficient public option anyway, but
More on Craziness of China's Stimulus
From The Financial Times. Here's a taste: This was thanks largely to the government's Rmb4,000bn
Today's Indicators
US Consumer Confidence surges above 50 in August; considerably fewer say jobs "hard to get." Go figure. In
It's Better than the Alternative
...to wit, nominiating Lawrence Summers. From Reuters: Obama renominates Bernanke as Fed chief Tue Aug 25, 2009 9:55am EDT