Archive for November, 2009

Underemployment And Its Consequences

The next time you hear a politician talk about the number of jobs saved or created by the stimulus package or listen to a commentator on CNBC talking about the improving labor market hark back to this story. It’s from the WSJ and it’s the unfortunate reality that isn’t and maybe can’t be addressed. The [...]

Share

What Makes Dubai Different From AIG

Many thanks to Dubai for providing fodder to the blogosphere over a slow weekend. Much has been written (too much?) about what seems to me at least to be a minor story. In most respects, the travails of Dubai simply represent the natural evolution of bad real estate investments. Inevitably, overly aggressive and highly leveraged [...]

Share

Is It Time For A New Fed Chairman?

Yves Smith has taken up the battle to prevent the reappointment of Ben Bernanke as Fed chairman. While I agree in principal with her cause, I do think her rationale for denying him the post misses the mark. When CEOs preside over disasters, they are fired. Captains go down with their ships. And Bernanke needs [...]

Share

Is There Nothing That Is Not For Sale On Capitol Hill?

This a post that I wrote in late November. In light of the bribes that have floated through the Senate over the past couple of days in order to move the health care bill along, I thought I would put it up again. Here is a link to the most recent WSJ article on the [...]

Share

The Stimulus Fallacy

I’m not a big a big Krugman fan. Not that he isn’t an excellent economist but he usually seems more interested, or at least as interested, in pushing a political agenda rather than one grounded in economics. Having said that, I found this Op-Ed in the NYT today, pretty interesting. I think he’s made some [...]

Share

Mortgage Backed Securities – What Happens When The Training Wheels Come Off?

Calculated Risk points to an interesting but short article at Bloomberg by Meredith Whitney in which she postulates that once the Fed withdraws its support for the mortgage backed securities market, mortgage rates will move up and the banks will be faced with more writedowns. CR plots the historical spread of of the 30 year [...]

Share

Interested In The Health Care Debate? Then Read Keith Hennessey!

I’m bushed tonight so no long blogging but I did want to remind you of the best source in the entire blogosphere from which to follow the health care debate. It’s Keith Hennessey.com. It’s true that Hennessey comes from a Republican background but for my money he’s the most unbiased writer on the subject around. [...]

Share