Tuesday, September 7, 2010

Today's Best Reads

1--Lindsey Graham Gets It Wrong On The Stimulus: Blames Legislation For U.S. Job Losses, Amanda Terkel, Huffington Post Most striking stat: "From December 2007 to July 2009 - the last year of the Bush second term and the first six months of the Obama presidency, before his policies could affect the economy ---out of 8.5 million private sector jobs lost in this cycle, 7,796,000 of those jobs or 92 percent were lost on the Republicans' watch or under the sway of their policies... The tally, to date: Mr. Obama can be held accountable for the net loss of 41,000 jobs (671,000 - 630,000), while the Republicans should be held responsible for the net losses of 7,796,000 jobs.

2--17th Weekly Fund Outflow As Equity Fund Redemptions Accelerate, zero hedge

3--What Is A Depression Anyway, And Why We Continue To Be In It?, zero hedge (David Rosenberg)Rosenberg quote: "It took a decade of parabolic credit growth to get the U.S. economy into this deleveraging mess and there is clearly no painless “quick fix” towards bringing household debt into historical realignment with the level of assets and income to support the prevailing level of liabilities. We are talking about $6 trillion of excess debt that has to be extinguished either by paying it down or by walking away from it (or having it socialized).

4--Plan B for Obama on the economy, Thomas Palley, Financial Times

5--FHA delinquencies continue to grow, refinance apps outnumber purchase apps, Housingwire

6--EU forces securitization reforms on the US, Naked Capitalism (It's about time!)

7--Visual Guide to Deflation, Barry Ritholtz, The Big Picture (Great chart)

8--$50 Billion in Infrastructure Spending Is Equal to 1.4 Percent of the Federal Budget, Dean Baker, CEPR

9--Unemployment in U.S. May Rise Toward 10% on `Feeble' Growth, Bloomberg

No comments:

Post a Comment