What’s Crypto Good For? Corruption, Exploitation, and Billions for Insiders
As with the subprime lending crisis, crypto appears to be more of an example of predatory inclusion than enhancing financial access.
D&S BLOG
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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
China To Keep Lending
This is just weeks after asserting (or emphasizing?) the contrary. The Chinese are really dancing on a tightrope, here. I
Strange Things Afoot in the Bond Market
From Bloomberg: Bond Bears Dumping Two-Year Treasuries Defy History (Update3) By Oliver Biggadike and Daniel Kruger Aug. 24 (Bloomberg) Bond
NYT on High Frequency Trading
Arrest Over Software Illuminates Wall St. Secret By ALEX BERENSON Published: August 23, 2009 New York Times Flying home to
Today's Reads: Morgenson, Roubini, Muenchau
Morgenson cautions us on hopes for recovery in the banking sector Roubini wonders if whether the recession will be "
CBO: 2009 Deficit Down, 10-Year up by $2 Trillion
From Reuters: New deficit projections pose risks to Obama's agenda Mon Aug 24, 2009 8:06am EDT By
This Week's Economic Indicators
Before we get to the recognized indicators, some non-indicator news worthy on note (i.e. these things will probably affect
One More for The Road: Global Stimulus
On the plus side, German business sentiment and Eurozone purchasing managers' index readings expanded at unexpectedly rapid rates according