It's Monday, Aug 9. The stock markets are declining significantly, although anybody who says it's panic doesn't remember 2008. Anyway, lots of market commentators, you know the types on cable TV news networks, are all claiming the decline is due to the S&P downgrade. They're wrong. Completely wrong as I pointed out already. But just … Continue reading How To Tell A Market Commentator Doesn’t Understand Markets or Finance or What They’re Talking About
A Cartoon by Ruben Bolling (via Economic Perspectives): From politicalirony.com Oh that Scooby and Company were real. We could use them to catch the phantom of crowding out.
European leaders (read banker-types) insist on austerity (read lower real wages and services for middle and lower classes) in the midst of 10% and rising unemployment. Dangerous mix. The one good sign is that the ECB is actually buying govt bonds, including Greek bonds, despite it's public hard-line position. From Calculated Risk: Europe Update: Strikes … Continue reading Europe Update: Strikes in Spain, UK Austerity, ECB Bond Purchases