Archive for June 16th, 2009

Kicking An Ever Growing Can Down The Road In California

This from LA Land is scary. Basically, they say that servicers and lenders are doing everything they can to keep houses out of foreclosure. The question is are they just adding to a backlog that’s going to result in an epic crash. In May, a record 111,824 California homes were scheduled for foreclosure sales, but […]

The Reregulation Acronyms Explained – As Best They Can Be

If you choose to ignore my advice about just bookmarking the new proposal for financial reregulation and want to delve into it then I suggest you read Felix Salmon’s post this evening. He explains it all. Good luck.

China: A Protectionist Gambit?

It should be interesting when Congress starts sinking its teeth into this one. From the FT: China has introduced an explicit “Buy Chinese” policy as part of its economic stimulus programme in a move that will amplify tensions with trade partners and increase the likelihood of protectionism around the world. In an edict released jointly by nine […]

Financial Reregulation Is A Long Way Off

If Bloomberg is right, the best thing you can do with all of the articles and analyses you’re going to see tomorrow regarding the new financial regulatory scheme is bookmark them for reference next year. With health care and climate control on their plates, it’s unlikely that any regulatory bill will emerge this year. Indeed, […]

We’re Still Tracking The Depression

Martin Wolf has a somewhat disquieting column in the FT. He notes that the current recession is striking in the manner in which it is tracking the Great Depression. From the FT: Two economic historians, Barry Eichengreen of the University of California at Berkeley and Kevin O’Rourke of Trinity College, Dublin, have provided pictures worth more […]

California Bailout: Tough Talk Before Capitulation

The buzz around the blogosphere today is being caused by the WaPo article about the federal government bailing out California. The article implies that there will be no aid forthcoming and then suggests that, well maybe there will be. The administration is worried that California will enact massive cuts to close its deficit, estimated at […]

Blah Economic Data

There’s a couple of economic reports out today that don’t really tell us much more than what we’ve already learned over the past month or so. Things aren’t getting a lot worse but they aren’t getting better either. First, industrial production fell 1.1% in May versus April. April’s number was revised downward from a negative […]