Lower Bailout Estimate Assumes Higher Stock Prices
WASHINGTON (AP) — The Treasury Department indicated Friday it expects taxpayers will lose billions less from the financial bailouts than earlier estimated. The problem is, its revised forecast assumes Treasury’s shares of bailed-out companies are gaining value despite this week’s plunge in stock prices.
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Kyrgyzstan Today: The New Administration’s Pressing Problems
Kyrgyzstan’s interim government, having toppled the corrupt regime of former President Kurmanbek Bakiyev in Bishkek on April 7-8, faces many daunting challenges, from the economy gutted by Bakiyev’s insiders to reestablishing security in the country. It is in the interest of the three major outside players there – Russia, U.S.
Our government is achieving more success in re-inflating our bubble economy as they compel the consumer to spend more than they earn. Today's release of the Personal Income and Spending report along with the ISM Manufacturing report gives yet more evidence that we have learned nothing from the credit crisis which nearly brought down the entire global economy.
The Predatory Partnership of Wall Street and the State
The Central State and Financial Plutocracy are bound in a mutually beneficial, highly predatory partnership.
The Mainstream Media is missing the Big Story in the SEC/Goldman Sachs filing: the Central State needs the predatory "too big to fail" investment bankers to churn out the credit, leverage and insider deals the State needs to survive in an era of exponentially rising debt.
U.S. equity markets are expected to open lower following a sell-off in Google stock after the company reported better than expected earnings last night. This morning the markets are expected to be driven by earnings reports from General Electric (GE) and Bank of America (BAC).
Last night China reported that its Gross Domestic Product grew 11.9 percent from a year ago. This was slightly better than the median guesses of 11.7 percent. The news, that China’s economy accelerated more than expected in the first quarter, raised concerns that it may be overheating, prompting more talk of a possible interest rate like.
China's Towers and U.S. McMansions: When Things Fall Apart (Literally)
Shoddy construction throughout the world, but especially in China and the U.S., is a type of mal-investment, and it will have consequences.
Everybody seems to know about China's real estate bubble and brand new empty cities, but few seem to understand that maintenance is essentially non-existent.
The economy seems to be recovering but is "far from being out of the woods," Federal Reserve chief Ben Bernanke said in a speech Wednesday.Bernanke, speaking before the Dallas Regional Chamber business group, said unemployment remains one of the "toughest problems" for policymakers, and one that he expects to ease only gradually.
Consumer borrowing dropped in February, after increasing for the first time in a year during the previous month, according to a government report released Wednesday..Total consumer credit fell a seasonally adjusted $11.5 billion, at an annual rate of 5.6%, to $2.448 trillion in February, the Federal Reserve reported.
Are We Heading for a Decade of 1970s-Style Stagflation?
Four key factors in the 1970s were very different from present conditions, and that argues against 1970s-style stagflation as a model for 2010-2020.
Sometimes history rhymes--but only for the first line. On the surface, there are reasons to anticipate a 1970s-style stagflation in the decade ahead: a stagnating economy beset by rising inflation.