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Full text: Ben Bernanke on U.S. Monetary Policy and International Implications
The following is the text of a speech Federal Reserve Board Chairman Ben Bernanke delivered at a high-level seminar sponsored by the International Monetary Fund on Sunday.
Thank you. It is a pleasure to be here. This morning I will first…
Since Romney’s tax plan is “mathematically impossible”, a President Romney could…
Josh Barro has written a very comprehensive post at Bloomberg analsying Mitt Romney's tax plan. His conclusion is that the plan is mathematically impossible, leading one to assume that a President Romney would have to break his pledge on…
Spain: The government is claiming none of its auctions will fail after it signs a Troika MoU
The latest information out of Europe comes via the Financial Times where Miles Johnson writes that the Spanish are geared up to sign a Memorandum of Understanding with the Troika. Other countries are holding things up, according to this…
Daily: Recent economic data relatively constructive
At this point, I think the main weekly will end up being a comprehensive technology and tech stock overview. There have been a lot of stories in the computer and mobile space that deserve comprehensive treatment to pull a bunch of different…
Portugal: austerity budget with highest tax increase in history as prep for OMT
Mired in the worst recession since the 1970s, Portugal's governing coalition is going to turn up the austerity dial even higher. The goal is to reduce the Portuguese deficit to 4.5% of GDP in 2013 in order to be in a position to switch out…
German Pensioners have lost 20% of their purchasing power since 2000
According to a questionnaire given by the leftist German party "Die Linke", German pensioners have seen a significant erosion of their purchasing power over the last twelve years. Average pension payments this year after deducting all…
Spain wants the ECB to guarantee a 200 basis point spread if it seeks a bailout
In Europe, Spain is expected to formally apply for a Troika bailout in November. Despite the Rajoy's government's denials that it has not sought a bailout, Rajoy and his ministers have never specifically said that they refused to consider a…
Europe brought the IMF into its bailout scheme to enforce discipline and now the IMF have turned on…
Do you remember when Europe used to say the IMF would get involved in Europe over the euro's dead body? Well I certainly do.
Back before Greece got its bailout deathwish, it wasn't even clear there would be a bailout, let alone one with…
Chart of the day: US household debt-to-income versus debt servicing cost ratios
Here's a great chart from Goldman Sachs that I spied as a result of a tweet by finance blogger Conor Sen who is someone to follow on Twitter. It shows the divergence in US household debt-to-income ratios and debt servicing costs as interest…
Daily: implications of Amazon selling mobile hardware at cost
There are a lot of different threads in today's links to choose from for the overarching theme. So I will just choose one and run with it. Let's look at the Amazon selling at cost issue from Apple's perspective.
What Amazon CEO Jeff Bezos…