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BILL GROSS: 'We Are Witnessing The Death Of Abundance' Joe Weisenthal Febuary 1, 2012 In his latest monthly letter, PIMCO's Bill Gross has a long philosophical-sounding discussion about credit, delevering, and the difficult task facing Bernanke. The money line is this paragraph at the end: Where does credit go when it dies? It goes back to where it came from. It delevers, it slows and inhibits economic growth, and it turns economic theory upside down, ultimately challenging the wisdom of policymakers. We’ll all be making this up as we go along for what may seem like an eternity. A 30-50...
Published on Sunday 5th of February 2012 12:35:01 AM
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S&P Sounds Alarm On US, G20 Downgrades Antonia van de Velde, CNBC January 31, 2012 Concerns over the size of United States debt reared their head once again as ratings agency Standard & Poor’s warned that health care costs for a number of highly-rated Group of 20 countries, including the U.S., could hurt growth prospects and harm their sovereign creditworthiness from the middle of this decade. S&P downgraded the United States credit rating for the first time ever in August of last year. "Governments' fiscal burdens will increase significantly over the coming decade, with the highest deterioration in public finances...
Published on Sunday 5th of February 2012 12:35:01 AM
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No doubt about it, President Obama deseves credit for the Iraq "surge". The AP reported on Tuesday that, "Attacks in Iraq have 'surged' since the U.S. troops left. [Because Obama refused to leave a residual force of U.S. troops in Iraq.] More than 160 people have been killed since the beginning of the year." Clearly, Obama deseves credit for the "surge" in Iraq.....
Published on Sunday 5th of February 2012 12:35:01 AM
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WASHINGTON (MarketWatch) -- U.S. consumers increased their debt in November by a seasonally adjusted $20.4 billion, the largest increase since November 2001, the Federal Reserve reported Monday. Monthly debt rose at a 10% annual rate in November, a much faster pace than had been expected by Wall Street economists.
Published on Sunday 5th of February 2012 12:35:01 AM
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The Chevy Volt, much like former East Germany’s Trabant, is a centralized government planner’s idea of what an automobile should be. The Trabant, incidentally, was dubbed one of the worst cars produced -- ever. But what government bureaucrats believe is “good” for us generally has little to do with what consumers are looking for. The two concepts are as different as Barack Obama and Ronald Reagan.
Published on Sunday 5th of February 2012 12:35:01 AM
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You’re the President of the United States that ran the first trillion-dollar budget deficits in American history — and did it all three of your years in office. You’ve demanded two unpopular debt-ceiling increases, including one in the last couple of weeks. You earn millions from the sale of your books and $400,000 a year in salary. What about all of this makes Barack Obama think that joking about whether his credit card works somehow endears the common folk to him?
Published on Sunday 5th of February 2012 12:35:01 AM
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NEW YORK (CBSNewYork/AP) — Columbia University will offer a new course for upperclassmen and grad students next semester. An Occupy Wall Street class will send students into the field and will be taught by Dr. Hannah Appel, a veteran of the Occupy movement. The course begins next semester and will be divided between class work at Columbia’s Morningside Heights campus and fieldwork that will require students to become involved with the Occupy movement outside of the classroom. The course will be called “Occupy the Field: Global Finance, Inequality, Social Movement” it will be run by the anthropology department. Appel is...
Published on Sunday 5th of February 2012 12:35:01 AM
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Expiring Ethanol Credit to Add to Gas Price JumpBy WRAL POSTED: 9:04 am EST December 28, 2011 RALEIGH -- Lack of action by state lawmakers and Congress is expected to raise gas prices in North Carolina by more than 8 cents a gallon, starting Sunday. Half of the increase comes from the state. North Carolina's gas tax is linked to the price of gas and is adjusted every six months. Because gas prices have gone up since July, the state tax, which is already one of the highest in the country, is going up by 3.9 cents a gallon on...
Published on Sunday 5th of February 2012 12:35:01 AM
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In 2008, the United States government and Federal Reserve helped bailout European banks to the tune of trillions of dollars. The reactions to this by Congress and the public ensured that any future bailouts would have to be performed through the use of a proxy institution. It appears that this proxy institution has been found, as the IMF on November 22nd just opened a new credit facility with the primary purpose of providing liquidity to sovereign nations, especially those currently in the Euro Zone. IMF talking points on new credit facility * IMF APPROVES CREDIT LINE PROGRAM CHANGES TO PROVIDE...
Published on Sunday 5th of February 2012 12:35:01 AM
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Occupy movement wants to start a financial institutionBy: Dan Schreiber | 11/23/11 2:38 PM Examiner Staff Writer Call it the First Bank of Occupy. The denizens of the embattled tent city on San Francisco’s Justin Herman Plaza have been pushing for folks to close their accounts at big banks and put the money in credit unions instead. Now, the movement wants to form its own institution to keep their money out of the hands of the reviled 1 percent. A survey circulating Facebook and other social networking sites asks some simple questions that occupiers hope will relay the demand for...
Published on Sunday 5th of February 2012 12:35:01 AM
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