The artificially engineered U.S. recovery is already starting to falter as a continuous procession of disappointing data continues to confirm the sad truth. Recent numbers on GDP, durable goods, housing, regional manufacturing, initial unemployment claims and leading economic indicators all indicate a sharp slowdown in GDP growth.
Paul Price submits: Amid all the hoopla about GM’s IPO last week was a feeling that somehow the bailout had ‘worked out well’ for taxpayers. Barron’s was nice enough to publish the truth about where we stand so far.
It’s been a long time since I’ve been broke, but I can still remember exactly what it felt like. I can picture all the ugly details of the way I used to struggle; the empty bank account, the awkward moments, the feelings of despair…. And honestly, one particularly awkward conversation with my sister still plays clearly in my mind to this day:
If one listens to the endless rhetoric of hollow threats and escalating war of words between Russia and DC, one thing should be clear by now: with the passage of the Crimean referendum, accepted (not to mention planned) as perfectly normal by Moscow and blasted as illegal by the West (since it is the former whose troops are in the Crimea, not the latter) then Putin has certainly crossed the Rubicon this time especially since as it was reported earlier, Crimea will formally apply to join Russia tomorrow.
In Ben Bernanke’s final scheduled press conference as Chairman of the Federal Reserve, he had some unusually strong words for Congress–his partner in efforts to stimulate the economic recovery. “We’ve had very tight fiscal policy,” Bernanke said. “People don’t appreciate how tight fiscal policy has been.” You’re forgiven if those don’t sound like fightin’ words to you. But remember, central bank heads strive for be as bland and innocuous as possible.