Links: 2009-01-09

The big news is the economy and President-elect Obama’s reaction to it. The pundtitocracy has really been hammering him on his staff picks and the meat of his stimulus package. To be sure, there have been a few positive notes about Obama’s plan and what he has to say, but there have also been a number of voices of skepticism.

I would say in defense of Obama that he is trying to spend stimulus money, but only on things that are not wasteful and pork-barrel spending. I don’t think his stimulus is enough but I appreciate his efforts to stop government waste.

The first section below is dedicated to that theme. Beyond that, I also have a number of news items from around the web on the global economy. Soon it will be the weekend. So enjoy and have a great weekend.

Obama reactions
Democrats attack Obama on economy – BBC News
Obama Not Doing Enough – New Republic
Paul Krugman: The Obama Gap – Mark Thoma
Obama at GMU – Marginal Revolution
Obama’s Big Speech – Felix Salmon
Obama Remarks on the Economy – Real Time Economics

Bankruptcy
Icahn says bankruptcy reform could help banks – Reuters
California’s fiscal woes: Crimson tide – Economist
It Looks Like Mortgage Cramdowns Are Coming – Tom Lindmark
Citi Supports Mortgage Cram-Downs – Calculated Risk

The global economy
Great Depression jobs parallel may not be far flung – Reuters
Andrew Mellon vs Bailout Nation – PIMCO
UK manufacturing output plunges – FT
Spanish industrial output plunges – BBC News
Unemployment Way Worse than 7.2% Due to Birth / Death Adjustment – EconomPic Data
Staying out of the euro has spared us a Spanish-style catastrophe – Telegraph
More Pain to Come for Healthcare – Mark Reiboldt
What Are the Chances of a Depression? – FiveThirtyEight.com

Banking sector
Paulson Bailout Didn’t Give Taxpayers What Goldman Gave Buffett – Bloomberg.com
Moody’s Downgrades BofA, Wells Fargo – HousingWire
Citigroup sees $1.4 billion charge over LyondellBasell – Reuters
OECD blames weak bank regulation for financial crisis – Times Online
Financial blogger arrested in South Korea – FT.com (Paul Kedrosky had a funny post that it was Barry Ritholtz who was arrested)
Nick Leeson: how the original rogue trader at Barings Bank is thriving in the credit crunch – Telegraph
Canadian Banks May Be Alone in Not Needing Bailouts, Clark Says – Bloomberg.com

The markets
China hasn’t (yet) lost its appetite for US Treasuries … – Brad Setser
Trade the market and not the economy – INO.com
Blowing bubbles, US treasuries edition – FT Alphaville

Odds and Ends
Palin: Kennedy gets free ride from media – Andy Barr, Politico.com
The Bush years — then and now – First Read – msnbc.com
Images of Cristiano Ronaldo’s car crash – Guardian

1 Comment
  1. John Creighton says

    Part of me says that if Obama is getting flack from democrats then it is a sign that he is governing from the center as he should. However, I agree with Kerry. Keep taxes were they are. Wait for a recovery to either rais or lower them. Investment in infrastructure gives something tangible for the stimulus and will be filtered to consumer though the jobs it creates.

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More