Nobel Prize winning economist Paul Krugman also backs the idea. In his latest New York Time column, Krugman says “the federal government could provide jobs by … providing jobs,” in much the same way the New Deal put Americans to work during the Great Depression.The President is also taking aim at the lingering housing problems [...]
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WASHINGTON — The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true. But that happy situation, aided by ultralow interest rates, may not last much longer. Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term [...]
Filed under: Bill Gross, PIMCO | Tagged: Bill Gross, Credit Crunch, Debt, Defcit, Deflation, Depression, Dollar, economics, Economy, Gold, Life, NY, NY Times, PIMCO, Stock Market, Thoughts, Work | Leave a Comment »
Putting Peter Schiff on a panel with St. Louis Fed President James Bullard and former Fed Vice Chair Alan Blinder is asking for trouble or, at the very least, a heated debate.That’s just what occurred last Sunday night in New York at an event sponsored by Princeton’s Business Today.Predictably, Euro Pacific Capital’s Schiff disagreed with [...]
Filed under: Credit Crunch, Depression, Dooms Day, Economy, Jokes, Thoughts, Treasury Department, US Dollar, economics | Tagged: Alan Blinder, America, Ben Bernanke, China, Debt, Deficit, Dollar, James Bullard, Peter Schiff, spending | Leave a Comment »
Not happy with your bank? The feeling is likely mutual.Don’t be surprised if your bank soon decides they don’t want your business anymore, says Rochdale Securities bank analyst Dick Bove.Why?Bank regulators and Congress are looking at ways at making the system more safe and sound in order to avoid another meltdown. What on the surface [...]
Filed under: Banking, Economy, MoneyBob Postings, economics | Tagged: Banks, Savings, Banking, Dick Bove, checking, bank accounts, debit cards, late fees, overdrafts, bounced checks | Leave a Comment »
“It’s dangerous to be short this market,” says Peter Boockvar, equity strategist at Miller Tabak.Despite a penchant for bearishness, Boockvar says the rally can continue as long as the Fed keeps rates at zero.”When you cut rates to nothing you’re encouraging people to take risk,” Boockvar says. “As long as asset inflation is [the Fed's] [...]
Filed under: Economy, Investing, Middle Class, Peter Boockvar, economics | Tagged: Economy, Peter Boockvar, prosperity, wealth | 1 Comment »
Disappointing reports this week on housing starts and foreclosures, as well as the index of leading economic indicators, have cast a bit of a pall on the “robust recovery” story, putting a crimp in the stock market’s ascent in the process.University of Texas professor James Galbraith was never a believer in the V-shaped recovery and [...]
Filed under: Credit Crunch, Economy, economics | Tagged: Recession, Economy, economics, Jobs, Future, James Galbraith | Leave a Comment »
Are we on the verge of total economic collapse?Don’t laugh. The french firm Societe Generale thinks so.The brokerage firm has put the fear of God in clients recently by predicting that developed economies and markets are going to collapse under a monster debt load and that gold is going to soar to $6,000 an ounce.Fortunately, [...]
Filed under: Credit Crunch, Credit Freeze, Deflation, Depression, Dooms Day, Economy, Gold, Inflation, Life, Thoughts, Work, economics | Tagged: Depression, Recession, The End | Leave a Comment »
