Monthly Archives: May 2009

Robert Reich: GM Bailout A Wasteful Way to Ameliorate Pain

The last person one might expect to criticize the Obama Administration bailout of GM is a unapologetic liberal like Robert Reich, labor secretary under Clinton. Yet he does precisely that in today’s Financial Times. And his logic is similar to the arguments made here and elsewhere against the bank rescue operations. Unlike some other commentators, […]

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Links 5/31/09

We still have some technical glitches, and the fellow who did the transfer was oddly MIA Saturday, which is far from a good devleopment. Some images are not showing up in the daily e-mail. Most troubling, the RSS feed does not seem to be working with all clients. There are also some problems with comments […]

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Sweating the Future of Cars in the US

The New York Times discusses whether Americans will return to buying cars at the pre-bust level when conditions return to some level of normalcy. Of course, the subtext is that the US economy will get back on track later this year, when many those who anticipate growth starting 3Q/4Q, when pressed, say the recovery will […]

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Guest Post: Goldman Sachs Principal Transactions Update: Collapse In Agency Program Trading Volume

Submitted by Tyler Durden of Zero Hedge In the week ended May 22, NYSE program trading dropped to a statistically significant low of 2.9 billion shares, down from 3.3 billion the week before, and from a 3.8 billion prior 52 week average. As for specific actors, no surprise, Goldman leading the government’s SLP team with […]

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Guest Post: Keynesians, Please Exit Stage Left

Submitted by Rolfe Winkler, publisher of OptionARMageddonBack in February, amidst the neo-Keynesian rage to spend our way out of recession, I argued that stimulus wouldn’t stimulate. Pointing to the graph of the 10-year Treasury vs. 30-year mortgage rates I said that the government wouldn’t be able to flood the market with Treasurys without driving up […]

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Links 5/29/09

The Consolation of Animals Richard Coniff, New York Times Happy Days, The piece is nice, but the very existence of this blog (“The Pursuit of What Matters”) is a real sign of the times. The Obama Time Capsule (hat tip reader lambert). I am not sure what to make of this…and it does seem to […]

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Reader Query

Given that we are (hopefully) going into a time of year when the news will continue to be less than gut-wrenching, and therefore provide less ready grist for blogging, I wondered if any readers might enjoy taking a hand at a book review. It can take either the “what is this book about and do […]

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Pangloss Watch: Japan’s Industrial Production "Surges"

The Japanese have a wonderful expression that I will take some liberty in translating. They use it to signify when someone is trying to claim great distinctions among low levels of activity or achievement. The phrase is roughly “A height competition among peanuts.” Reader DoctoRx flagged this Bloomberg report as a Pangloss item. What is […]

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Guest post: A finance view of the political nature of the coming GM bankruptcy

Submitted by Edward Harrison of the site Credit Writedowns. I was on the BBC yesterday talking autos and my commentary was almost entirely political. So, as we await the likely General Motors bankruptcy, I think it bears discussing how political this process has been and will continue to be. General Motors is a monster company […]

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