Hard hitting global and local news
Think Greece has been “saved” by the Troika? A quick look at some loan repayment stats may help you think clearly.
The Bureau of Economic Analysis report on Personal Income and Outlays for January shows a 4% decline in real disposable income (the biggest decline in 20 years) following sharp gains in December.
"The Blame Game" Posted by Michael Shedlock at 12:13 AM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy
My friend Tim Wallace pinged me today with a few thoughts.
See more here: Did Obama Tax the US Into Recession?
February 28, 2013 (LD) – The US State Department, and to a greater extent, US foreign policy itself, having exhausted completely their collective credibility, has attempted yet another “reset.” By bringing in John Kerry to pose as the next US Secretary of State, it is hoped global opinion will see US foreign policy in a new, more tolerant light.
See the original article here: Walmart Slow to Stock Shelves as Consumer Sales Slump
View article: Is Inflation the Legacy of the Federal Reserve?
What Bernanke Didn’t Say About Housing (And Everything Else); Bernanke’s Ploy Caroline Baum had some interesting comments about Bernanke’s testimony before Congress in her writeup What Bernanke Didn’t Say About Housing . One of the more interesting exchanges at Ben Bernanke’s testimony to the Financial Services Committee today was the one between the Federal Reserve chairman and Representative Scott Garrett, a Republican from New Jersey.    Citing Bernanke’s assertion that one of the benefits of QE had been the rise in home prices, Garrett said the following: "Previously you have said that the Fed’s monetary policy actions earlier this decade, 2003 to 2005, did not contribute to the housing bubble in the U.S. So which is it?
View the original here: Elizabeth Warren Grills Bernanke on "Too Big to Fail" Policy