Daily Archives: December 14, 2009 @ 3:40 pm (Monday)

Summers supports Obama administration policy stupidity

[Skip to the end] Banking and the entire private sector in a capitalist society is necessarily procyclical. Only the Federal government can be countercyclical, and, indeed that’s it’s role in supporting aggregate demand in a slowdown. The blame for current … Continue reading

Posted in Banking, Obama, Politics |

Citi to repay $20 billion TARP funding

[Skip to the end] Does anyone in Washington realize any ‘profits’ govt makes reduces private sector net financial assets by that amount? Just like a tax, though a banks marginal propensity to spend is probably near 0. And that TARP … Continue reading

Posted in Banking, Government Spending | Tagged |

Obama vs the banks

[Skip to the end] Looks like a lapse into behavior not becoming a President- name calling, cheap shots, demonizing, and failure to recognize the behavior in question is a consequence of incentives built into the current institutional structure. The legislation … Continue reading

Posted in Banking, Obama | Tagged |

oil supporting the dollar

[Skip to the end] Crude oil below $69 is now offering even stronger fundamental support for the $US. And it’s not impossible cash flow issues of member nations may be causing ‘cheating’ on OPEC quotas that would ultimately show up … Continue reading

Posted in Comodities, Currencies | Tagged |

Greenspan comments

[Skip to the end] In case you thought Greenspan actually understood monetary operation. He obviously thinks quantitative easing is somehow inflationary per se: Fed can do no more to cut unemployment: Greenspan By Doug Palmer Dec. 13 (Reuters) — The … Continue reading

Posted in Government Spending, Inflation | Tagged |

Mankiw, you’re welcome…

[Skip to the end] By N. GREGORY MANKIW Published: December 12, 2009 IMAGINE you are a physician and a patient arrives in your office with a troubling and mysterious disease. Some of the symptoms are familiar, but others are not. … Continue reading

Posted in Government Spending | Tagged |

Obama vs the banks comment

[Skip to the end] Looks like a lapse into behavior not becoming a President- name calling, cheap shots, demonizing, and failure to recognize the behavior in question is a consequence of incentives built into the current institutional structure. The legislation … Continue reading

Posted in Banking, Obama, Politics | Tagged |