|
Former U.S. Federal Reserve Chairman Alan Greenspan: "The recession is over. It bottomed back in the middle of the year."
Greenspan added that, as many economists agree, the economic
recovery will have to continue for some time to absorb the slack in the labor force to lower the U.S. unemployment rate significantly.
Greenspan then agreed with co-guest former U.S.
Treasury Secretary Henry Paulson that one key to job growth would be a longstanding characteristic of the historically adaptable,
resilient U.S. economy: innovation. That's the rate at which new businesses are formed, and existing businesses deploy new
technologies/products/services, and find ways to operate more efficiently.
Crash is coming for municipal bond market, money manager says
The $2.8 trillion municipal bond market is likely to crash in
the same way as the markets for housing and technology, said Michael Aronstein of Marketfield Fund. Politicians have taken
advantage of the low cost of credit to pile up an unsustainable level of debt, Aronstein said. "I think we're getting quite
close," Aronstein said. "You'll see people trying to withdraw money from the municipal bond funds. The big risk comes when
you start seeing the tightening credit cycle."
Chinese Depression: Will Its Massive Foreign Reserve Hoard Save the Country's Economy?
As the United States and Europe deal with economic contraction resulting from excessive credit expansion that
many believe has lead to another Great Depression, China’s future remains hazy. Some argue that China has replaced the
US as the global engine of growth because of increased internal consumption, export capacity and massive reserves. And for
these reasons, China will avoid the same fate as the US and Europe.
Not everyone is convinced, however.
Trend Forecaster Gerald Celente believes that the depression is global and a contraction
across the entire planet cannot be avoided, and that includes China. Economist Harry Dent holds a similar view, recently saying that, “China will see their bubble collapse
strongly when the U.S.-led stimulus program fails due to rising defaults and foreclosures later in 2010, at the same time
that the world is looking for China to pull it out of this global downturn.”
Michael Pettis, of China Financial Markets, says that the conditions in China are eerily similar to conditions
in the United States right before the 1930’s Great Depression and Japan’s depression which started in the 1990’s
and continues even today. According to Pettis, there are a multitude of reasons why China’s massive $2 trillion plus
in reserve may not save them from an economic collapse...
Twice before in history a country has, under
similar circumstances, run up foreign reserves of the same magnitude...
G-7 Seeks to Calm Market Fears >>> Finance Leaders Downplay Threat of Greece Debt Woes as Worries Rise Over 'Contagion'
European Central Bank in a Squeeze >>> as investor alarm about Greek, Spanish and Portuguese indebtedness increases, the crisis
has highlighted the fundamental weakness of the European monetary union...no strong political arm to ensure that members observe
debt limits set by treaty
Group of Seven officials agree banks must contribute toward the cost of dealing with the financial crisis but have not agreed
on how they should pay
DOLLARCRACY AT WORK: Irked, Wall St. Hedges Its Bet on Democrats >>> Republicans are rushing to capitalize (ca$h in) on what
they call Wall Street's "buyers remorse" with the Democrats
With Federal Stimulus Money Gone, Many US Schools Face Budget Gaps
La crisis en la economía europea
El aumento de la deuda pública para paliar los costos
de la crisis financiera y los recortes presupuestarios que se imponen para afrontar el déficit aparecen así como dos fuerzas
en tensión.
Lo que los mercados y las sociedades están demandando son
los mecanismos de coordinación y regulación prometidos para prevenir nuevas crisis financieras, las reformas que permitan
sanear las finanzas públicas y los incentivos y políticas que permitan amortiguar sus efectos sociales.
La economía europea sigue sufriendo
el impacto de la crisis, especialmente en sus eslabones más débiles, como España, Grecia y Portugal.
México asegura estar protegido de crisis europea
Grecia, o la tragedia financiera de la UE >>> Bruselas no disimula su escepticismo ante el plan de Papandreu para reducir
el déficit / Temor a que la crisis se extienda a España y Portugal
El déficit presiona la nota de crédito de EEUU
Plan de choque contra la crisis >>> Crédito, rebajas fiscales e impulsar las infraestructuras, claves para la recuperación
|
.
to power $$$$$$$
