I’ll only “borrow’ one of his graphs, so check out Justin Fox’s blog at Time.com for some other great ones on the recession. Be sure and read the wonkish comments as well. This one is the best: Pretty ugly isn’t it?
Archive for August 7th, 2009
Here is a depressing thought to help you start the weekend. Michael Mandel in BusinessWeek notes that the economy has had its lowest growth rate in the postwar period over the last 10 years. It grew at a pathetic 1.9% annual rate. His take on how to look at this — “I think we need [...]
Though spanning the continent, the FDIC took down only three victims this week. Here are the links: Community First Bank, Prineville, Oregon National Bank of Sarasota County, Venice, Florida First State Bank, Sarasota, Florida The deposits and branches of the two Florida banks were picked up by Stearns Bank, St. Cloud, Minnesota. It’s always convenient [...]
What a day! Employment is looking better and Freddie Mac reports a profit. No that is not a typo or bad joke, they actually made some money. From Reuters: Freddie Mac reported second-quarter net income of $768 million, compared with a $9.9 billion loss in the first quarter and a $821 million deficit in the [...]
It appears that the denial of service attacks that took down Facebook and Twitter among others yesterday weren’t aimed at them at all. In the vernacular of war, they were collateral damage. Facebook said that it had determined that the attacks were directed towards a Georgian (country not state) blogger by the name of Cyxymu. They [...]
There is an interesting and useful little dustup going on in the blogosphere today. Tyler Durden who writes Zero Hedge had a post that accuses the Fed and Treasury of conspiring to rig the market for Treasuries. John Janssen, the author of the highly respected Across the Curve blog responds to the accusation in an [...]
It may not have been a blockbuster but the employment report from the BLS has to be viewed in a uniformly positive light. Most of the indicators were moving in a positive direction but we’re still talking second derivative moves here. Things are getting worse at a slower rate. In July, 247,000 jobs were lost [...]