November 2009

Video embedded below. See also Democratic Rep. DeFazio Calls for Geithner and Summers to Be Fired - Yves Smith

Here’s another interesting piece from Randall Wray, the economics professor from University of Missouri-Kansas City (that same school which employs Bill Black of “The Best Way to Rob a bank is to own one” fame). Wray has a lot to say…

The Rise and Fall of Empires - Paul Kedrosky (cool visual) FT Alphaville - A Minskian roadmap to the next gold mania At Failed Banks, Post-Mortems Disclose Excessive, Yet Obvious, Risk - NYTimes.com Economic Perspectives from…

Initial jobless claims for the past week were 505,000, tied with last week for the lowest since January. This brings the 4-week average down to 514,000, the lowest since November of last year and the 11th consecutive week of declines. …

I want to take a break from banking and macro stuff and talk a little bit about technology. I wrote an article about Android a few weeks back. That was a more personal account on why I was switching from a Windows Mobile phone to Android,…

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…