Live Blogging the Financial Meltdown: Nouriel’s 26 Early Warnings and Predictions

Nouriel Roubini’s 2008 advisory, ‘The Rising Risk of a Systemic Financial Meltdown: Twelve Steps to Financial Disaster,’ reads as quite prescient, looking to the season of fraught policy meetings for central banks and governments that lies ahead. In fact, Nouriel’s outline of a slow collapse at a time when people were hoping for a quick […]

Income and Spending Update Boosts July’s Economic Profile

Today’s update on personal income and spending offers a fresh batch of data for thinking that recession risk remains low. Disposable personal income (DPI) continued to inch higher in July on a month-over-month basis. Meantime, personal consumption expenditures (PCE) staged a sharp revival in July, rising 0.42% vs. June—the best monthly improvement since February. As a result, […]

Time to Rethink a Broken Market

Yves here. Readers are likely to assume that the “broken market” of the headline is US housing related, say the private mortgage securitization market, but the subject is what once was the gold standard of trading markets, equities. Index Universe has cited a study by the Tabb Group that finds that investor confidence in stock markets is even […]

Labor Day 2012 and the Election of 2012: It’s the Inequality, Stupid

The most troubling economic trend facing America this Labor Day weekend is the increasing concentration of income, wealth, and political power at the very top – among a handful of extraordinarily wealthy people – and the steady decline of the great American middle class. Inequality in America is at record levels. The 400 richest Americans […]

Exports and A Strong Dollar: Not Necessarily Perfect Together

It’s become fashionable in this election cycle in some circles to promote the idea of a strong dollar as a key part of the solution to the economic ills that plague the U.S. But simple “solutions” in economics aren’t always what they seem. That’s a caveat worth considering when it comes to America’s growing exports […]

Quelle Surprise! Banks Getting Credit for What They Would Have Done Anyhow in Mortgage Settlement

Today, Joseph Smith, the official monitor for the Federal-state mortgage settlement entered into earlier this year with five major servicers, released a glossy initial report on program progress. Needless to say, my cynicism was piqued both by the glossy format of the document and the decision to release it well before the required date of second quarter 2013. But […]

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