Bond fund manager Bill Gross, a man who does some of the country’s most influential financial thinking in darkened conference rooms, and while standing on his head doing yoga, has added his name to the list of smart people who are a bit panicked about deflation. The Journal reports that the Read More
At the brink of global ruin, many Americans suddenly seem willing to consider sensible ideas that were always deemed unthinkable, and to reject foolish notions that were once deemed brilliant. Soon we may be mature enough to observe how other developed countries solved problems that have baffled us for generations.
Nationalizing major banks, temporarily at Read More
The Village Voice‘s cover story this week slams Andrew Cuomo as a sort of bumbling godfather of the current subprime mortgage crisis that has done so much to damage the American economy and to ruin lives.
A summarizing paragraph from the long story by legendary investigative reporter Wayne Barrett:
Andrew Cuomo, the youngest Read More
For years and years a minority of savvy people would ask themselves, “Just how long can this go on?” The “this” was lending people money that they were not earning enough to repay. Now we know. Now the question is not how long can this go on but how come it went on so long. Read More
Discussing George W. Bush’s proposed economic stimulus package this morning from the podium at the A.B.N.Y. breakfast at the Sheraton, Charlie Rangel shied away from saying outright that he would discontinue the Bush tax cuts when they expire in 2010.
"As most of you know, there seems to be a lot of concern about Read More
“Now,” Alan Greenspan told The Wall Street Journal the other day, “it turns out politics is less important, domestically, than it was, because globalization is taking over an ever increasing part of the decision making process with the exception of national security.”
This is a fancy-dancy way of saying, “You foolish little persons can Read More
Now he tells us. Alan Greenspan has come out from behind the cloud of gas where he had hidden himself for the past couple of decades to say in public what he should have said years ago when it might have mattered.
In his book, Mr. Greenspan complains that the Bush administration paid little Read More
THE AGE OF TURBULENCE: ADVENTURES IN A NEW WORLD
By Alan Greenspan
The Penguin Press, 531 pages, $35
“Garbo talks.” That was the advertising slogan for Greta Garbo’s first talking picture, Anna Christie. A similar advertising campaign would have been appropriate for the famously cryptic economist who developed the dropped hint into Read More
Senator Clinton had a bout of Glenn Thrush-induced amnesia on the subject of what she did on the Wal-Mart Board of Directors back in the day in Arkansas, but she’s gone on the offensive against the retail mega-chain in recent days.
It was reported Friday that she returned donations from company Read More
The news that Manhattan real-estate prices took a plunge last quarter may not be the loud crack in the sky presaging doom, but it is less than happy tidings. The New York Times reports that prices dropped a startling 13 percent in a three-month period.
It also reports a similar weakening of the real-estate markets Read More