News Links 10/03/2011
BBC News - Eurozone manufacturing shrinks in September Manufacturing in the eurozone shrank at its fastest pace in two years in September, a business survey has shown. tags:…
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Blanchflower: EFSF changes not enough because markets are leading policymakers
The Bloomberg interview with David Blanchflower of Dartmouth College last week captures the essence of the European sovereign debt crisis. The essence of what Dr. Blanchflower says is this: European policymakers are leading from the rear…
News Links 10/02/2011
29-Year-Old Deaf Woman Hears Her Voice for the First Time tags: technology science…
Currency Revulsion
All US government obligations are substantially identical promises to repay a specific amount of the currency unit of account backed by nothing but taxing authority. So, Treasury bonds don’t ‘fund’ anything. If the Treasury were allowed to…
News Links 10/01/2011
BBC News - Russia bleeds cash as investors pull out Five months ago the Russian stock market was among the world's top performer, peaking after a steady rise in share prices that had lasted since early…
It’s Going to Get Worse
ECRI has predicted a recession in the US. In the videos below, Lakshman Achuthan talks with Yahoo Finance and the Wall Street Journal about ECRI’s new recession call.
links 09/29/2011
Associated Press - Ala. police to enforce parts of immigration law tags: immigration…
Hungary: Controversial Swiss franc loan law goes into effect
Central European borrowers loaded up on cheap Swiss franc and euro loans (mainly from Austria and Switzerland) in the lead up to the credit crisis because of higher nominal rates in central Europe. When the crisis hit, these loans became…
Herbert Hoover or Barack Obama: “the major forces of the depression now lie outside of the…
I think these two quotes sound pretty similar. They both blame Europe for the world’s economic problems. The inference is that all would be well if it weren’t for those Europeans.