John Authers of the Financial Times provides an update on corporate cash-hoarding. In brief, it’s getting worse due to probably-warranted executive nervousness about business prospects. As Authers puts it: Corporate chieftains the world over have lots of cash, and want to hold on to it. It is a critical symptom of a new Age of […]
Read more...Yves here. Normally I put up cross posts without additional commentary, but I wanted to offer a couple of observations about this post. While this piece is admittedly a bit heavy on economist-speak, and readers may differ with the policy recommendations, = it gives an even-handed account of the early rebound during the Great Depression […]
Read more...The media has been so preoccupied with acute symptoms of the debt crisis – sliding home prices, foreclosure abuses, ongoing Euromarket bank/sovereign debt stress, ongoing battles over financial regulation implementation, unhappiness over the Fed’s QE2 – that lingering problems are not getting the attention they deserve. High on the list is the how the weak […]
Read more...Various Eurosceptics are piping up this morning, and no wonder. Unfortunately some of the interesting stuff is behind the FT’s magnificently unstable subscription firewall, which, in an attack of paranoia, or megalomania, has decided today, as it occasionally does, to deny access to everything, even the free bits, subscriber or not. It is like something […]
Read more...A cross-post courtesy of market veteran (and occasional robust NC commenter) Bruce Krasting I wish I could get a penny for every dollar that is going to be paid to lobbyist to fight the various recommendations of the Fiscal Commission. As advertised, they basically took no prisoners save a small portion of the older population […]
Read more...By Richard Alford, a former economist at the New York Fed. Since then, he has worked in the financial industry as a trading floor economist and strategist on both the sell side and the buy side. In reaction to the OPEC-engineered oil price spikes of the 1970s, which economists would depict as external negative supply […]
Read more...By Marshall Auerback, a Senior Fellow at the Roosevelt Institute, and a market analyst and commentator; first posted at New Deal 2.0. Before throwing rocks at the U.S. for its spending, Germany should take a look at its own crumbling glass house. Okay, I did a few years of German language study, so I know […]
Read more...Round-up of verdicts on the US elections by the New Deal 2.0 team, assembled by Lynn Parramore, Editor of New Deal 2.0 and Media Fellow at the Roosevelt Institute In the wake of a Democratic loss not seen in the House since 1938, upended Senate seats, and Republican gubernatorial wins, Roosevelt Institute Fellows weigh in. […]
Read more...By Marshall Auerback, a portfolio strategist and Roosevelt Institute fellow There are plenty of legitimate reasons to criticize Barack Obama’s dismal stewardship of the US economy, and God knows I’ve voiced quite a few of them, but it does not follow that every criticism made of his economic policies is therefore legitimate. There is quite […]
Read more...The contradictions of the Eurobailout mechanism were bound to be resolved at some point, smoke and mirror and insufficient firepower relative to the magnitude of the problem will only take you so far. The eurozone rescue operation, although it looked like it was aimed at so called Club Med, aka PIGS sovereigns (Portugal, Ireland, Greece, […]
Read more...Tom Ferguson, who is refreshingly blunt, gives his dim view of the Obama Administration economic policies. But be warned, he doesn’t like the Republican proposals either. From the Real News Network: More at The Real News
Read more...Our public spending cuts, in the pipeline since July, have been announced. Here’s some background on the structure of public finance in the UK. Salient points: Public spending is divided into two: current spending on running costs of government, such as salaries and equipment; and capital spending on new roads, railways, bridges and schools. In […]
Read more...By Yiping Huang, Professor of Economics at the China Center for Economic Research, Peking University. Cross-posted from VoxEU. On 19 October, the People’s Bank of China announced a series of rate hikes. This column argues that the moves were aimed at combating domestic inflation and avoiding the mistakes of Japan in the 1980s. On 19 […]
Read more...By Satyajit Das a risk consultant and the author of the Traders, Guns & Money: Knowns and Unknowns in the Dazzling World of Derivatives During the European debt crisis, in a matter of days, the dollar strengthened by around 10%. The weakness of the Euro and resultant appreciation of the Renminbi by over 14% reduced […]
Read more...A couple of articles in the Wall Street Journal, reporting on a conference at the Boston Fed, indicates that some people at the Fed may recognize that the central bank has boxed itself in more than a tad. The first is on the question of whether the Fed is in a liquidity trap. A lot […]
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