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America's Superiority Complex - NYTimes.com
March 23, 2011, 5:39 pm Aaron Carroll has a very good takedown of an op-ed article by Senator Ron Johnson, who basically exploits his infant daughter’s medical experience to make an incoherent attack on the Affordable Care Act. His daughter received excellent treatment, and he asserts that she wouldn’t have received that kind of treatment under universal health insurance, because …. well, he doesn’t explain.There Are Only 2 Ways to Save the Economy: Innovation or Inflation - Michael Mandel - Business - The Atlantic
It all comes down to this: We have to match growth to debt.
THE TRILLION DOLLAR MEAN REVERSION
Ben Bernanke’s great reflation gamble appears to be working. Unfortunately, it appears to be working in all the wrong places. While unemployment remains high, small businesses continue to struggle and the recession on Main Street endures , it’s back to business as usual at the banks. In 2007 & 2008 Jim Reid of Deutsche Bank issued a popular chart he called the “trillion dollar mean reversions”. The chart showed the excess profits in the financial sector when compared to the rest of the economy.
S&P: Market Likely to Fall 10% -- Seeking Alpha
According to Standard & Poors, a three pronged government attack is likely to take stocks lower over the coming weeks. The three reasons for the potential for more downside are: S&P’s Chief Technican, Mark Arbeter, says the S&P 500 is likely to correct 10% further to the 1035 area.
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More Downside To Come. Global Liquidity Tightning.
Alphaville » The POMO effect, charted
Those who are reluctant to admit that these operations may have resulted in an almost instant asset boost via dollar devaluation worldwide, should probably look at the following charts, in which we’ve taken the liberty of indicating the start of POMO ops:Goldman: The ISM Manufacturing Index Will Collapse By 2011
The ISM Index of U.S. manufacturing could collapse from its current 56.3 level to below 50, says Goldman Sachs.
At first glance, Tuesday's report from the U.S.
No Wonder Many Americans' Economic Outlook Is Pessimistic -- See
There were 111,693 consumer bankruptcy filings last month, up 9% from January, the American Bankruptcy Institute said Tuesday based on data from the National Bankruptcy Research Center .
Personal Bankruptcies Resume Upward Trend - Real Time Economics
The leading monetary economist told the Wall Street Journal that this was not a liquidity crisis, but an insolvency crisis. She said that Bernanke is fighting the last war, and is taking the wrong approach . Nobel economist Paul Krugman and leading economist James Galbraith agree . They say that the government’s attempts to prop up the price of toxic assets no one wants is not helpful. The Bank for International Settlements – often described as a central bank for central banks (BIS) – slammed the easy credit policy of the Fed and other central banks, the failure to regulate the shadow banking system, “the use of gimmicks and palliatives”, and said that anything other than (1) letting asset prices fall to their true market value, (2) increasing savings rates, and (3) forcing companies to write off bad debts “will only make things worse”. BIS also cautioned that bailouts could harm the economy (as did the former head of the Fed’s open market operations ).