18 November 2009

Hat tip Rolfe Winkler.

After a huge fall off in credit consistent with the fall in nominal GDP, we are seeing credit stabilise at a lower level. Debt to GDP ratios may not be lower, but as GDP is lower, so too is credit in the system.  Yet there is a large…

Barack Obama has now come clean about his thinking on why his administration has decided to focus first on reducing the deficit and next on jobs. He fears a double-dip recession will occur if foreigners lose confidence in the U.S. dollar,…

Josh Reviews Everything: And then he took his pants off. Again. frontline: a class divided: watch the program | PBS In Case Someone Says You Couldnt See This Coming - Yves Smith U.S. conservatives: Obama bowed too deeply to…

Credit Suisse has a note out urging caution on Citigroup shares due to regulatory hurdles.  Their logic bears noting as it can be useful for other U.S.-based banks. On Monday the CS analysts met with Citi management, who were somewhat…