There are two very important posts that I just ran across that explain my long term concerns perfectly. The first comes from Brad Setser. Here are the relevant points: "Both private and official demand for US financial assets has collapsed. Gross inflows are close to zero." "The US government was — according to the latest US balance of payments data – a large net … [Read more...] about Two Posts That Reveal The Long View
U.S. Government To Switch To Chinese Made Condoms To Distribute Abroad
The U.S. government is switching to Chinese made condoms, doing to an Alabama company what condoms...(never mind). Here's a real stimulus story: Call it a condom conundrum. At a time when the federal government is spending billions of stimulus dollars to stem the tide of U.S. layoffs, should that same government put even more Americans out of work by buying cheaper … [Read more...] about U.S. Government To Switch To Chinese Made Condoms To Distribute Abroad
Probes Begin into Madoff’s Fleecing of the French: Le Journal du Dimanche au Quotidien, France
Believe it or not - French investigations into the crimes of Bernie Madoff are just getting under way. This account from France's Le Journal du Dimanche au Quotidien into what French prosecutors have uncovered so far contains some interesting details. For Le Journal du Dimanche au Quotidien, Laurent Valdiguie relates in part: "Between 3,000 and 5,000 French citizens were … [Read more...] about Probes Begin into Madoff’s Fleecing of the French: Le Journal du Dimanche au Quotidien, France
We Can’t Invite an Icon of Peace Because It Might Disrupt the Peace
You know, quoth Dr. E, this form of logic makes me think once again that if logic were all it's cracked up to be, men would ride sidesaddle. From AP, by Donna Bryson, with Associated Press writers Ashwini Bhatia in Dharmsala and Malin Rising in Stockholm contributing. JOHANNESBURG – South Africa barred the Dalai Lama from a peace conference in Johannesburg this … [Read more...] about We Can’t Invite an Icon of Peace Because It Might Disrupt the Peace
Rube Goldberg Economics
It's hard to evaluate Treasury Secretary Geithner's new bailout plan using traditional economic yardsticks. The government's economic behavior in recent months has entered realms better understood by studying the works of Franz Kafka and Lewis Carroll, or the illustrations of Rube Goldberg. Here, in less literary and pictorial terms, is what Secretary Geithner hath just … [Read more...] about Rube Goldberg Economics
Dow Soars Nearly 500 With Treasury Toxic Assets Plan News
Wall Street is giving a (for now at least) thumbs up to the Treasury Department's toxic assets bank plan in the form of the Dow making its fifth-biggest point gain in its history. That's the initial thumbs-up, which could hold. On the other hand, Wall Street could eventually hold up a much different finger. But the news today was heartening to all Americans who want to … [Read more...] about Dow Soars Nearly 500 With Treasury Toxic Assets Plan News
Big Publishers Lobby Bigger Google for Special Treatment
Say they, We don't like the algorithm... or the presentation! Many publishers resent the criteria Google uses to pick top results, starting with the original PageRank formula that depended on how many links a page got. But crumbling ad revenue is lending their push more urgency; this is no time to show up on the third page of Google search results. And as publishers renew … [Read more...] about Big Publishers Lobby Bigger Google for Special Treatment
The White House Explains The Toxic Assets Bank Plan
Here's how President Barack Obama explains it: Visit msnbc.com for Breaking News, World News, and News about the Economy And this explanation via Morning Joe: Visit msnbc.com for Breaking News, World News, and News about the Economy Some more videos on the issue: … [Read more...] about The White House Explains The Toxic Assets Bank Plan
Superman In Crisis
Paresh Nath, The Khaleej Times, UAE This cartoon is copyrighted and licensed to appear on TMV. All Rights Reserved. Unauthorized reproduction prohibited. … [Read more...] about Superman In Crisis
Words of War and Peace, and Somewhere In Between
On Saturday, I wrote a post summarizing an amazing CSIS report titled "Study on a Possible Israeli Strike on Iran's Nuclear Development Facilities." It wasn't until today that I read a message sent by Israeli President Shimon Peres to the Iranian people on the occasion of Novruz. Novruz in Persian means "New[-year]-day", and is the beginning of the year for the people in … [Read more...] about Words of War and Peace, and Somewhere In Between
Banks Are Lending–to Their Own
The credit crunch is squeezing American businesses and consumers, except for the directors, top executives and other insiders who have loans from their own banks totaling $41 billion. We learn this from the Charlotte Observer, which reports: "At Charlotte-based Bank of America, those loans more than doubled last year, to $624.2 million--the biggest dollar jump in the … [Read more...] about Banks Are Lending–to Their Own
Treasury Unveils Toxic Assets Bank Bad Assets Rescue Plan: Stocks Climb
The Treasury Department unveiled its highly anticipated plan to rescue banks by helping them remove their troubled assets by creating a controversial f "toxic bank" -- and Wall Street immediately reacted as stocks climbed. But there could be a dark political cloud on the horizon: while the plan was being released banks got more rotten PR with a story breaking about how … [Read more...] about Treasury Unveils Toxic Assets Bank Bad Assets Rescue Plan: Stocks Climb
Is Population Control Even Possible?
Over in the U.K. there are ideas being floated regarding reducing the nation's population to roughly 30 million, roughly what it was during the Victorian era. Unfortunately, the argument is made in terms of environmental impact. JONATHON PORRITT, one of Gordon Brown’s leading green advisers, is to warn that Britain must drastically reduce its population if it is to build a … [Read more...] about Is Population Control Even Possible?
Memo To Obama Bashers: I’m Scared & Angry Too, But Please Back Off
By SHAUN MULLEN GUEST VOICE The inevitable piling on the Barack Obama presidency is well underway -- and well too prematurely. Consider that Obama has been in office for not even two thirds of the mythic 100 days by which new presidents are prejudged. Consider that we had been sabotaged by domestic terrorists in the form of the Bush administration and that the damage it … [Read more...] about Memo To Obama Bashers: I’m Scared & Angry Too, But Please Back Off
Remembering The Iron Lady Margaret Thatcher (Guest Voice)
Remembering The Iron Lady Margaret Thatcher by Dalitso Njolinjo As Americans rightly feel proud of their collective ‘achievement’ in electing their first non-white-male president, I am left wondering why hasn’t there been any mention of the greatest ground breaker of modern times – a leader who not only produced cracks on the “highest glass ceiling” as the suit pants lady … [Read more...] about Remembering The Iron Lady Margaret Thatcher (Guest Voice)
Twitter This
Aislin, The Montreal Gazette This cartoon is copyrighted and licensed to appear on TMV. All Rights Reserved. Unauthorized reproduction prohibited. … [Read more...] about Twitter This
Up North, it is still winter
Under tight-plaited canopy: the old walker will find what the new satellite cannot
Supreme Leader Responds to Obama’s Message to Iranians: FARS News Agency of Iran
So now that Barack Obama has sent a conciliatory Persian New Year message to Iranians and their leaders, is Tehran reacting favorably? According to this news account from the Islamic Republic's state-controlled Fars News Agency, the Supreme Leader's response is the political equivalent of 'show me the money.' In a speech delivered on March 22, Supreme Leader Ayatollah Seyed Ali … [Read more...] about Supreme Leader Responds to Obama’s Message to Iranians: FARS News Agency of Iran
Obama Strongly Defends Geithner On 60 Minutes: Is Geithner Secure Or Doomed?
President Barack Obama's extensive interview on CBS's venerable and still-power-house-rated 60 Minutes made news even before the interview aired due to some segments released in advance -- most specifically, his defense of Treasury Secretary Tim Geithner.. In less than two months in office, Geithner has managed to spark a gathering a coalition of Democrats, Republicans and … [Read more...] about Obama Strongly Defends Geithner On 60 Minutes: Is Geithner Secure Or Doomed?