REVIEW & OUTLOOK SEPTEMBER 26, 2009 Too Big to Ignore Volcker says Treasury’s reform will lead to future bailouts. He’s right. President Obama’s economic advisers are struggling to sell their financial reform plan to . . . an Obama economic adviser. Paul Volcker, the Democrat and former Federal Reserve chairman who worked with President Reagan [...]
Archives for September, 2009
This just in from the BLS. Layoffs appear to be on the rise again. Employers took 2,690 mass layoff actions in August that resulted in the separation of 259,307 workers, seasonally adjusted, as measured by new filings for unemployment insurance benefits during the month, the U.S. Bureau of Labor Statistics reported today. Each action involved [...]
Here is a must-listen by Julian Robertson, a legend on Wall Street and a knowledgeable investor. The interview is quite straight-forward and frank and provides a good overview of the important forces in play. Not crazy about his global warming views.
Despite all the hoopla regarding an economic recovery, there can be no recovery until the economy sheds the excess debt. The consumer is tapped out and is adjusting his balance sheet to reduce leverage. That is good, despite what the government wants (another credit bubble). The so-called stimulus programs can mask economic performance for a [...]