Hard hitting global and local news
Backing up what Ambrose Evans-Pritchard said with hard data, the Italian site Il Sole 24 Ore reports New Fall in Bank Lending to Households and Businesses . Loans to businesses and non-financial families continue to face strong decrease
Sticking with his economically insane campaign promise to construct 500,000 new homes in 2013, Hollande Announces 20 Measures to Support Home Building . Advocating a “confidence shock” to revive the building “against the Emergency Economic, social and environmental” the head of state has shown its desire to remove “all obstacles to construction”, while there was about 340,000 starts of new homes in 2012, below the target of 500,000.
The understatement of the day comes from Fed chairman Ben Bernanke who essentially says: I’m Dispensable . “I don’t think that I’m the only person in the world who can manage the exit,” Bernanke said when asked at a news conference in Washington if he’s discussed his plans with President Barack Obama. What Bernanke said is best translated as ” I’ll get while the gettin’ is good.
Denial is Everywhere (About Increasingly Important Things!) Posted by Michael Shedlock at 6:09 PM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice.
Le Monde Headline "No, France is Not Bankrupt" This amusing headline story by Bruno Moschetto, a professor of economics at the University of Paris in the French newspaper Le Monde has me laughing out loud this morning: " No, France is Not Bankrupt " No, France is not bankrupt …
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Shameless self-promotion, Part Two So the contest of Solutions for Planetary Stability continues, and both of the solutions I entered (former blog posts) have made it to the finalist stage.
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Eli Rabett Eli Rabett Eli Rabett is a not quite failed professorial techno-bunny, a chair election from retirement, at a wanna be research university that has a lot to be proud of but has swallowed the Kool-Aid. The students are naive but great and the administrators vary day-to-day between homicidal and delusional. His colleagues are smart, but they have a curious inability to see the holes that they dig for themselves.
If you need a break from money supply, jobs, Cyprus, France, Europe in general, or housing (who doesn’t) I have a wonderful visual diversion that is literally “out of this world”. You can Watch the Aurora Borealis from an International Space Station that captures otherworldly famous lights.