Daily Archive: Wednesday, August 26, 2009


[Skip to the end] This doesn’t look good: This does not look good US RevPAR declined 16.7% last week versus a year ago, the largest decline since early July Occupancy fell 7.2% to 60.4% and average room rates fell 10.2% to $95.70 Higher quality and urban segments continue to lead the decline ...Read More

FDIC Sets Standards for Private-Equity Firms to Buy Shut Banks

[Skip to the end] So why should capital ratios be a fuction of who the shareholders are? FDIC Sets Standards for Private-Equity Firms to Buy Shut Banks By Alison Vekshin August 26 (Bloomberg) — The Federal Deposit Insurance Corp. approved guidelines for private-equity firms to buy failed banks, opening a growing pool ...Read More

Money as a Public Monopoly

[Skip to the end] Money as a Public Monopoly by L. Randall Wray [top] ...Read More

Levy Policy Brief

The Levy Economics Institute of Bard College Public Policy Brief No. 103, 2009 FINANCIAL AND MONETARY ISSUES AS THE CRISIS UNFOLDS James K. Galbraith Beginning page 9: Warren Mosler picked up on the theme of human resource utilization and full employment in a particularly useful way. Mosler suggested that stabilization of employment ...Read More

US Debt Clock

[Skip to the end] The name needs to be changed to the ‘non govt savings clock’ asap! http://www.usdebtclock.org/ [top] ...Read More

Number of new homes in inventory

[Skip to the end] (Sent ahead of the 10am number) The actual homes in inventory, as per the attached graph, is exceptionally low, particularly on any kind of population adjusted number. And with actual inventories this low, much of what’s left may be undesirable for any number of reasons. While orders for ...Read More

Bean Says Impact of BOE Bond Purchases ‘Moderately Encouraging’

[Skip to the end] Bean does see the interest rate channel but misses the savings/income channel, and has it all wrong regarding the fact that causation runs from loans to deposits and reserves, not from reserves to loans. And he’s reading what happened in Japan incorrectly as well. Also, the second article ...Read More