Economy

Wow! Just came across this piece from the FT about the concerns of the International Accounting Standards Board (IASB) of how European financial institutions have not reserved enough against potential credit losses on their Greece sovereign…

In July, the employment-population ratio for youth—the proportion of the 16- to 24-year-old civilian noninstitutional population that was employed—was 48.8 percent, a record low for the series.

The much anticipated Bernanke speech in Jackson Hole is under-whelming. He did not break any new ground. While much of the recent history is re-hashed, the only forward looking guidance is to reaffirm the recent FOMC statement and…

Ben Bernanke's Speech to the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming

Nouriel Roubini spoke to CNBC today about the Speech that Federal Reserve Chairman Ben Bernanke will deliver tomorrow. Roubini does not expect Bernanke to announce QE3 in this speech. However, he does expect QE3 at some point in the future…

As the heat wave which has been hanging over Southern Europe for the last couple of weeks steadily eases off there is little sign that any of the warm air which is dissipating is reaching the chilled motors of the European and Chinese…

I doubt we are going to see wide scale debt forgiveness until defaults and debt deflation have taken center stage. But this is something to consider as it was an approach used during the Great Depression.

Little did Hoover know that it was jut the opposite – poverty would skyrocket as the Great Depression hit America with full force.

The Richmond Fed manufacturing index fell to -10 in August from -1 in July, joining other manufacturing index sugessting contraction in the sector.

Former Fed nominee and Nobel Laureate Peter Diamond spoke to Bloomberg News about how he sees the economic difficulties the United States faces. His view is that America faces a jobs crisis in the here and now and that deficit reduction is…