- FT Alphaville » Just how big a problem is falling capacity utilisation?
Nice reference to Austrian School economist Josef Steindl. “Former commodity mega-bulls Goldman Sachs are expecting markets to continue to pull back from current levels in the near term as “fundamentals are not yet stable enough to support higher prices””
- Bronte Capital: Biota – a wild speculation
If Swine flu is the real deal then Biota will be a huge stock. And if not – then maybe the fear will encourage more government stockpiling. I speculatively purchased Biota today. It is unusual that I purchase anything after a rapid 60% rise
- Larry Summers’ New Model « The Baseline Scenario
Larry Summers comes out to reveal his true policy ideas. He sees the economy as self-equilibrating. He believes we need to encouraging the kind of behaviors that “previously we wanted to discourage” i.e. building up debt and leverage. I see these two ideas as dangerous. However, he does admit that financial regulation has failed and needs to beefed up. This is a big admission given his previous de-regulatory zeal. And he sees 1990s growth as too finance-based.
- Flu outbreak to loom over U.S.-Mexico truck dispute | Politics | Reuters
Will Swine Flu be the protectionist trojan horse that starts a proectionist wave that implodes free trade?
- H-1B, J-1 Immigrants More Productive Than Americans, Study Says – Real Time Economics – WSJ
Immigrants who come to the U.S. on work or trainee visas ultimately outperform American-born workers and contribute to the country’s productivity, new research shows.
- Fiscal policy again? A rebuttal to Mr Krugman – vox
This column argues that economists – led by Paul Krugman – invest too much hope in the effects of fiscal stimulus while turning a blind eye towards the bad-debt mess. Stringent inspections and evaluations of bank assets by financial regulators, followed by sufficient infusions of taxpayer-funded capital will be the only effective means of clearing away the oppressive uncertainty.
- Paulson’s ‘Gift’ to Lewis Delivered at Gunpoint: Caroline Baum – Bloomberg.com
Paulson said via a statement that while the words were his, the sentiment was “what he knew to be the Fed’s strong opposition to Bank of America” backing out of the deal.
- Polls: Obama scores high marks – John Ward Anderson – POLITICO.com
A Gallup survey found 56 percent of Americans giving Obama an excellent or good job rating, vs. 20 percent who grade him terrible or poor so far.
- Mexican peso hit by swine flu outbreak – Telegraph
Let’s see what Marc Chandler has to say about this. The Mexican peso tumbled on fears that the outbreak of swine flu will prolong the country’s recession.
- FT Alphaville – Gambling on Monte Carlo simulations
The Gaussian Copola and Monte Carlo simulation are two statistical terms that are very important in today’s financial markets.
- Japanese economy to shrink 3.3pc this year – Telegraph
The Japanese government said on Monday that the economy is likely to shrink 3.3pc this fiscal year, its worst contraction since the Second World War, as exports continue to plummet.
- naked capitalism: Are the Knives are Coming Out for Geithner?
This is damaging in the eyes of the great unwashed. But there is nothing here that was presumably not fully known by the Obama vetters. This storm, like the tax fracas, will pass. But Geithner is nevertheless looking more and more like damaged goods. This story now makes official what only those who kept tabs on these matters knew, that Geithner is captured by the industry. It will now be much easier for Obama to cut Geithner loose should that prove necessary.
- An Interview With Economist Nouriel Roubini – “I Am Not Dr. Doom” – washingtonpost.com
Lally Weymouth of Newsweek and The Post sat down last week with economist Nouriel Roubini. Excerpts
- While the US economy struggles, ten states are doing OK | csmonitor.com
ten states (Alaska, Wyoming, Louisiana, Nebraska, Texas, Iowa, New Mexico, Utah, Oklahoma, and South Dakota) did not enjoy the real estate boom seen in places like California, Arizona, and Nevada – and therefore have not gone bust to the same degree.
- Thain Fires Back at Bank of America – WSJ.com
The BofA – Merrill disaster just keeps getting worse. Thain is saying that Lewis scapegoated him.
- The Long View – Barrons.com
The pros in our latest Big Money poll say they’re bullish or very bullish about the stock market. But they have good reason not to jump in with both feet yet.
- New York Fed Chief Tim Geithner – Portfolio.com
This is 10 months old, but interesting. Depending on who’s talking, the Fed’s Tim Geithner either kept the financial world from collapsing or did Goldman Sachs’ bidding. Can both versions be right?
- Salon.com News – The prophets of doom
Meet the Cassandras, 14 economists, bloggers, politicians and businesspeople of all political stripes who have become the most strident critics of President Obama’s stewardship of the economy. Hat tip Scott
- HOW TO: Tweet, Facebook and Digg from Your Phone
Ever reading a story on your phone and want to share it with your friends on Facebook, Digg or Twitter? Many phones make this a challenge, and the effort isn’t worth it. Enter Smub.it, a sharing service that will officially announce an extremely useful service tomorrow – one I’ll probably use myself.
- Lifehacker – Five Best Malware Removal Tools – Malware Removal