I will be at the Clinton Global Initiative Forum all day today, so I doubt there will be any posts until this afternoon. For Canadian readers, I am doing a TV interview at 12:30PM ET on BNN on Obama’s relationship with Wall Street.
Have a great weekend.
Good interview with Roach on Fox. Great comments on the Fed, savings, the U.S., and Asia.
Leisure business gets crushed
"Spain is sliding into a full-blown economic depression with unemployment approaching levels not seen since the Second Republic of the 1930s and little chance of recovery until well into the next decade, according to a clutch of reports over recent days."
Is this why markets are declining?
Suspicions that the PPIP bailout is actually a handout
it will go on taxpayers tab.
About a doomsday device developed in the Soviet Union
"The Federal Reserve is looking to team up with the money market mutual fund industry as part of its exit strategy to avoid a bout of post-crisis inflation. The central bank wants to use the deep-pocketed sector to refinance part of the giant portfolio of mortgage-backed securities and Treasuries acquired during the crisis, using a technique called "reverse repos". This would involve the US central bank borrowing from money funds using some of its assets as collateral, thus draining liquidity from the financial system."
"Almost 26 years after HIV was discovered to be the cause of AIDS, a vaccine has at last shown signs of protecting people. Results of the RV144 trial on 16,000 volunteers in Thailand show that those receiving the vaccine reduced their risk of HIV infection by about a third – the first evidence that a vaccine might work."
Of course, I am a small-government type but I still think his piece deserves a look.
Germany is not signing up for the imbalances view of the G20
For saying ‘a broad in Asia’ to describe her CLSA speech
We are hard-wired take an apology at face value.
"Bank of England governor says ‘the banking sector is not in good shape’"
Worthy read from Posner, a judge who writes a well-regarded economic blog.
"were within hours of going under, Mervyn King told BBC Two’s The Love of Money programme."
Interesting look back at the 1980’s and teaching of economics at graduate schools.
"Moonraker Fund Management, the independent investment boutique, is concerned that banks may have been using their bailout money to buy equities, helping to fuel a rally that is vulnerable to a major correction if they consequently sell in thinly traded markets."
Distraction of the Day: The Case of Fixing the Wrong Roof