1.As I write this, the Federal Reserve has announced a huge new program to buy various kinds of debt designed to lower interest rates for home mortgages and other loans (such as securitized consumer loans). This action is another major step in the new era of the proactive Fed that puts large amounts of “Fed-created†…
Continue reading ‘Knowledge is Power: Nouriel Roubini on Insolvent Banks Edition’ »
 1.Banks are indispensable for a working economy; badly-run banks ignoring sound banking principles are not. What is needed in a depression is not more central bank money for distressed banks but government deficit money to sustain full employment with living wages. – Henry C K Liu The burden of elitism 2.HONG KONG – Although Mao …
1.Charles Dumas says things in the United States are moving roughly in the right direction; pity about China. Economist disappointed to find he’s not that gloomy 2.The Soviets dubbed her the “Iron Lady,” US President Ronald Reagan called her “England’s best man” — 30 years ago Margaret Thatcher was elected prime minister of Britain. It …
Continue reading ‘Knowledge is Power: Thatcher – Founder of Modern Britain Edition’ »
1.Canada’s economy is in serious trouble, which means our future jobs and prosperity are in trouble. Our economic problems run much deeper than the daily headlines on job losses at General Motors, bankruptcy protection at Nortel, and business failures in many small businesses, from retailers to restaurants. For several decades we have failed – despite …
Continue reading ‘Knowledge is Power: Chrysler’s Surgical Bankruptcy Edition’ »
1. BEIJING, April 11 — China’s government has pledged to create 1 million jobs for college graduates in the service outsourcing industry in five years.China to create 1 mln service outsourcing jobs for graduates 2. Obama Stakes His Fortunes on Failed Banksters Now that we have a rough idea how President Barack Obama and his lieutenants …
Continue reading ‘Knowledge is Power: Failed Banksters Edition’ »