Saturday, September 18, 2010

Today's Best Reads

1--Gallup Finds U.S. Unemployment at Highest Level Since May, Gallup

2--Household Net Worth Plunges By Most Since Q4 2008, As Government Borrowing Surges, zero hedge

3--Lost Decade for Family Income, Wall Street Journal
The Bush years were the worst ever

4--Bracing For Peak Oil Production By Decade's End, Forbes

5--The great debt drag, The Economist
Excerpt: "How long will deleveraging take? In a recent paper Carmen Reinhart of the University of Maryland and her husband Vincent Reinhart of the American Enterprise Institute looked at 15 crises since 1977. They estimate that on average deleveraging lasted seven years, during which growth was a percentage point lower than in the decade before a crisis. If America follows this pattern, its GDP will grow by 2.4% for the next four to seven years. Because that roughly equals potential, job creation should only just match population growth: the unemployment rate won’t fall." (principle reduction and much more)

6--Taming the banks, The Economist

7--Ireland/Spain Update, Paul Krugman (No rewards for Ireland's austerity)

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