Tuesday, October 2, 2012

Today's links

1--NY sues JPMorgan over Bear Stearns mortgage securities, Reuters

2--Wary Americans saving more, even as government encourages risk, WA Post

3--Education Profiteering; Wall Street's Next Big Thing, Real News

4--Asian Stocks Drop as China, Japan Data Signal Slowdown, Bloomberg

5--Golden Dawn Opens New York Office, Greek Reporter

6--On Politics, Italian and American Style, zero hedge

7--Jobs Outlook Seen Weak as U.S. Companies Reporting Cost Cuts, Bloomberg

8--We are already in a recession, Hussman

9--Sell side indicator shows extreme bearishness, Big Picture

10--Wage and Salary Growth is Accelerating, Trim Tabs

11--CoreLogic: House Price Index increased in August, Up 4.6% Year-over-year, calculated risk

12--Recession?, econbrowser

given the dearth of forecasts of recession, and the fact that not all indicators are trending down, I rate the likelihood of imminent recession as low -- but of course the data could be revised down, going forward. Furthermore, crises abroad, or more likely failure to address the fiscal cliff could yet put us in a self-inflicted recession.

13--Energy New Front in Economic Warfare, oil price

14--FHFA announces second winning bidder in REO pilot program, Housingwire

15--CoreLogic: Home prices rise 4.6% from last year, Housingwire

16-The American Dream Has Become a Myth',  Joe Stiglitz, Der Speigel
http://economistsview.typepad.com/economistsview/2012/10/the-american-dream-has-become-a-myth.html

17--Corporate Welfare Queens, by James Surowiecki, economists view

18--Unemployment Rates Across the Euro Area – Tough Times in Key Markets, wilder report

19--Gaming US Fiscal Reform, project syndicate

20--Total Global Losses From Financial Crisis: $15 Trillion, WSJ

21--Vital Signs Chart: Manufacturing Rebound, WSJ

22--Agency MBS market will be shrinking rapidly, sober look

23--Fed's expansionary policy is not going achieve projected unemployment levels, sober look

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