Many aspects of China’s real-estate bubble mirror the run-up to the housing bust in the US. But there are important differences as well.
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Archive for July 22nd, 2010Prosperity: Federal Reserve Chairman Ben Bernanke can talk all day about doing everything possible to sweeten a sour economy. Monetary policy is pretty much exhausted. It’s Congress that could act - but won’t.
Jul
22
2010
 
Republicans Should Acknowledge Bush Economic ErrorsPosted by: realclearmarkets in RealClearMarketsThe sour economy is presenting Republicans with a golden opportunity to retake both houses of Congress. The Democrats will try to defend their seats by attacking Bush’s record on the economy. Republican candidates should counter this move by acknowledging the economic errors made during the Bush years. This will help restore the credibility of the Republican brand with respect to the economy and free up the candidates to move on to what really matters-the future.Just how bad was the Bush administration’s stewardship of the economy? A good measure of economic performance is the…
Jul
22
2010
It’s a Fiscal Problem, Not a Fed ProblemPosted by: realclearmarkets in RealClearMarketsBen Bernanke threw a curveball in his midterm report to Congress this week. The Fed view of the economy has been downgraded since it last reported in February. Although the official Fed forecast for 2010-11 is still 3 to 4 percent real growth, Bernanke sounded particularly gloomy when he characterized the economy as “unusually uncertain.” And he indicated that the majority view of the Fed Board of Governors and Reserve Bank presidents is that the risks to growth are “weighted to the downside.” Apple reported record revenues earlier this week, but Microsoft had a blowout quarter of its own, reporting revenues Thursday of $16.04 billion — enough to keep the Redmond giant ahead of the Cupertino company in this particular financial metric. But that’s not the whole story.
In extending unemployment benefits yet again, Congress is reinforcing the fantasy that we taxpayers are entitled to a lot more from government than we can afford. Skype and the iPhone are so happy together, now that the new version of the software can receive calls in the background and make calls over AT&T’s 3G network. We credit AT&T’s new data limits with making this happen, and Skype agrees.
A few weeks ago, the markets were rattled by the instability of the euro. Now Europe’s economic troubles suddenly seem to be a non issue. Joe Weisenthal, deputy editor of the Business Insider, says that Wall Street’s panic over the Euro was an overreactio
Jul
22
2010
Buy Gold, Peter Schiff Says: U.S. Dollar a "Bottomless Pit", Treasuries a "Sucker’s Bet"Posted by: yahootechticker in Yahoo Tech TickerStocks were soaring midday Thursday on the back of strong earnings from blue chips Caterpillar, 3M, UPS and AT&T. It’s not likely Peter Schiff president of Euro Pacific Capital is taking part. …
Jul
22
2010
Stocks Rebound After Bernanke’s ‘Uncertain’ Outlook Spooks MarketPosted by: yahootechticker in Yahoo Tech TickerStocks are rebounding strongly, saoring more than 2% Thursday morning after getting a scare from Federal Reserve Chairman Ben Bernanke on Wednesday. Bernanke’s semiannual report to the Senate Banking Committee had a chilling effect, causing a triple-digi
Jul
22
2010
Peter Schiff’s 3 Reasons Why Financial Reform Will FailPosted by: yahootechticker in Yahoo Tech TickerThe Dodd-Frank financial regulation reform bill is now law. The bill is being touted as the most sweeping financial legislation since Glass-Steagall, but with 2300 pages of rules and proposals it’s hard to know exactly how it will play out in the WASHINGTON–With Wednesday’s vote to extend eligibility for unemployment insurance benefits to 125 weeks, the Senate has just added $34 billion to the national debt. That’s more than $500 million per senator who voted for the bill. |
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