The problem with Greece grows and spreads as the underlying weaknesses become obvious.
How long will it take to reorganize? And, what are the important issues?
Amazing what one discovers when probing into the deep recesses of book shelves!
In scanning today's headlines, one more choice indicator not too easily ferreted out from personal motivation, lights or dims our path to the future:
Vote for Romney or the wealthy 1% will sink the nation!
The three presidential election debates are behind us. We’ve had an opportunity to witness the character of the two candidates and their positions.
Though not in "1987 recap" mode, Reuters still notes the current attitude of the players.
The blog sites turn to poor earnings, pick up in housing sales, the presidential elections and the fiscal cliff of January 1, 2013 to explain market fluctuations today, another list of excuses.
Paul Krugman's style is direct and relentless.
Exercise in logic:
(1) At 10 AM, Reuters runs these lead stories:
The New CFPB (Consumer Financial Protection Bureau), created by the Dodd-Frank Act of 2010 at work
CNBC reports that by the year 2020, consumers in China and India combined will be contributing purchasing power to the amount of $10 trillion dollars to international trade.
CNBC.com is running an article which creates the impression that the Fed is footing the bill for the Entire US deficit. Not likely,
Christine LaGarde delivered a speech at the Peterson Institute in Washington Monday in which she attempted to deliver a "few words on the status of the global economy". Those few words amounted to a loosely presented impression that we are on the right path to recovery.
This man is a candidate for the US Presidency?
Shades of Worgl, Austria, 1932-3. A school teacher in Bavaria has installed a local currency supplementing the euro.Submitted by Old and Gray on Mon, 09/24/2012 - 15:01
QE Goes Local: Towns Coin Their Own Currencies
Early this AM, Bloomburg Futures had the DJIA at -15; at 7 AM, DJIA was at -56 carrying a sensation of distrust with it.
Sometime very soon, we'll see Germany react to George Soros's suggestion to "lead or leave" the Eurozone.
Eric Rosengren, president of the Boston Federal Reserve Bank notices signs of recovery in mortgage rates.Submitted by Old and Gray on Fri, 09/21/2012 - 10:31
In the distant past, two twists on truisms became apparent to my often undependable sense of humor.
Second, Attach responsibility to an economist's theory and he forgets everything he ever learned.
Germany's Jens Weidman, President of the Deutsche Bundesbank, likens Central Banks' QEs to the Devil's WorkSubmitted by Old and Gray on Wed, 09/19/2012 - 06:09
There is a scene in Faust where Goethe disguises the devil as a court fool who persuades the ruler to issue currency to excess and the result is inflation that ruins the nation. To prove this is not a new sequence, Goethe died 180 years ago. The French post-Revolution debacle described by A.D. White occurred 220-230 years ago. Goethe had to be aware of that. If not, there were other similarities which could have modeled the Faustian situation.
For me, this is nothing new. He is speaking the Tea Party party line in this speech. Its just that he is demonizing all the voters who actually believe that food, health care, housing and education are part of what a government should help people with. Sure to make some medicare and social security recipients question his likely direction as a leader.
Here is an article on CNN dealing with the subject http://www.cnn.com/2012/09/18/politics/campaign-wrap/
A website where downloading a GOOD Book! is possible: V_L's Andrew Dickson White's Fiat Money Inflation in FranceSubmitted by Old and Gray on Sun, 09/16/2012 - 14:44
With the QE's and stimuli at levels promising unavoidable inflation, I'd recommend the book without restriction. There's much to gain
My timing seems to have been off as to when we would get the announcement of QE to Infinity and Beyond. I thought this would happen before June. Well, its taken until now but the underlying facts pertaining to the nature of architecture of the problem pointed to this outcome. John Williams argues my associated belief that ultimately, between the ECB and Fed operations, that hyperinflation is the ultimate outcome. Neither political party has put forward any substantial or likely effective long range strategic plan to alter this condition.
One could chalk this up to trying to drum up business for the stock markets.
Opinions do not rest because of weekends. Read this Reuters article.
True to Texan tradition, the Dallas Federal Reserve Bank has hired a Distinguished gun to deal with an economic wrong.
With out further interruption.
The interaction between the FOMC, the Fed and the markets is a tantalizing puzzle.
Pew Research Report on Social and Demographic trends and the Plight of the Middle Class - Updated and expanded 8/30/12Submitted by Old and Gray on Thu, 08/23/2012 - 15:59
The Pew Research Center released a report on the middle class, August 22nd, Wednesday.