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Economics and Investing:
From "Kevin Lendel": China airs fears on US debt, dollar: lawmaker
10
big banks get OK to repay $68B in bailout money (Thanks to H.D.K. for
the link) "Experts say allowing 10 banks to return $68 billion in bailout
money illustrates some stability has returned to the system but caution that
the crisis isn't over. Some worry the repayments could widen the gap between
healthy and weak banks." Cheryl N. notes. "Just remember, these
banks suddenly were able to pay their bills after the FASB changed some
accounting
rules.
It's
just
more "green shoots" based
on falsified accounting records.
HPD spotted this piece by Mish Shedlock: Eight Step Program to Improve Fed's Image
Items from The Economatrix:
Charles Hugh Smith's commentary: Why
The Current Depression Will Be Deeper
Than 1929
Justice Ginsburg Delays Chrysler Sale
Geithner
to Sen. DeMint: Bailouts May Never End, No Exit Plan. JWR
Adds: Gee, that sounds like the very definition of the MOAB...
Obamanomics: How Stupid Do They Think We Are?
The
Economy is Still at The Brink "We have both spent large chunks of
our lives working on Wall Street, absorbing its ethic and mores. We're concerned
that nothing has really
been fixed. We're doubly concerned that people appear to feel the worst
of the storm is over —and in this, they are aided and abetted by
a hugely popular and charismatic president and by the fact that the Dow has
increased
by 35 percent or so since Mr. Obama started to lay out his economic plans in
March. But wishing for improvement and managing by the Dow's swings are
a fool's game."
Bank
Profits From Accounting Rules [Relaxation] Masking Looming Loan Losses "The
revival may be short-lived. Analysts who have examined the quarterly profits
and government tests say that accounting rule changes and rosy assumptions
are making the institutions look healthier than they are."
Economist: Housing Bubble Caused Great Depression, Too
Skousen: Something Rotten In Auto Bankruptcy Deals
Medvedev:
Russia, China Should Dump Dollar In Trade "Medvedev said bilateral
currency deals between trade partners ease impact of the economic crisis in
an environment when many countries have difficulties
tapping international capital markets."
Russian Rouble to Go Palladium
US Expert: India, China Ready to Rule World Economy "... the Centre
for Economics and Business Research (CEBR), a London-based economic consulting
firm, had predicted emerging market economies may overtake
the US and the rest of the Western world this year instead of 2015 as predicted
earlier."
Peter
Schiff: The Charm Offensive "...no matter how slick the sales pitch,
no amount of lipstick can dress
up this pig."
