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Adalberto Palma

CD President Obama Joins the Cult of Economics Deniers 2011.08.15 - 0 views

www.commondreams.org/...15-4

economics

shared by Adalberto Palma on 15 Aug 11 - No Cached
  • Obama is no longer paying attention to economists and economics in designing economic policy.
  • do what his campaign people tell him
  • Obama intends to focus on reducing government spending and cutting programs like social security and Medicare.
  • ...18 more annotations...
  • stimulus spending, as prescribed by mainstream economic theory, to create jobs and promote growth."
  • Obama intends to ignore the path for getting the economy back to full employment that most economists advocate.
  • vast amounts of excess capacity.
  • theory as to how budget cuts could boost growth
  • lower deficits in the present and/or near future will reduce fears that government spending will be crowding out private economic activity. This would lead to lower interest rates. Lower interest rates will provide a boost to investment and consumption. Also, lower interest rates in the United States will make dollar assets less attractive to investors. This will cause the dollar to decline against other currencies, improving our trade balance.
  • no part of this story makes sense in the current economic environment. US interest rates are already at ridiculously low levels,
  • interest rates did fall, it is difficult to believe that it would have much impact on either investment or consumption
  • policy will be determined by people with no knowledge of economics whatsoever.
  • Consumers remain heavily indebted due to the collapse of house prices.
  • The dollar continues to be a safe haven in uncertain times.
  • keep the dollar from falling too much against their currencies no matter how low interest rates fall.
  • unlikely that cutbacks in government spending will do much to lower the dollar and reduce the trade deficit.
  • Obama is apparently not listening to economists anymore, so he wouldn't care, in any case.
  • politicians who think that biology has no place in teaching the origins of species, we now have politicians who think that economics has no place in designing economic policy.
  • tens of millions of lives stand to be ruined.
  • Keynes's basic insights have been supported by a vast amount of economic research over the last seven decades. And we have solid evidence showing (pdf) that the limited stimulus pushed through by Obama in 2009 worked pretty much as predicted in generating growth and jobs.
  • doesn't matter at the White House any more.
  • evidence,
anonymous

Compras en Black Friday ¿Qué minorista saldrá beneficiado? - 0 views

www.saladeinversion.com/...acciones-cfd-25-noviembre-2011

acciones black friday cfd dollar general empresas macys mercados minoristas

shared by anonymous on 28 Nov 11 - No Cached
  • anonymous on 28 Nov 11
     
    Saxo Bank destaca a seis minoristas que tienen grandes posibilidades de obtener buenos resultados, encabezados por las compaías Macy's y Dollar General.
Adalberto Palma

WaPo Think this economy is bad? Wait for 2012. 2010.10.24 - 0 views

www.washingtonpost.com/...AR2010102202786_pf.html

shared by Adalberto Palma on 26 Oct 10 - No Cached
  • Mexico's financial crises regularly coincide with presidential elections. In early 1982, the government knew that its deficit was too large and that its currency was overvalued. Investors were pulling their money out, draining the nation's foreign currency reserves. Government officials hoped to postpone action until after the July election, and the Federal Reserve helped by making short-term dollar loans to Mexico designed solely to make its reserves appear larger.
Adalberto Palma

NY TimesThe Fed's Rescue Missed Main Street 2011.08.26 - 0 views

www.nytimes.com/...rescue-missed-main-street.html

shared by Adalberto Palma on 29 Aug 11 - No Cached
  • funneling hundreds of billions of dollars to large and teetering banks during the credit crisis was necessary to save the financial system
  • fresh and disturbing details about the crisis-era bailouts.
  • Freedom of Information Act
  • ...16 more annotations...
  • provided a stunning $1.2 trillion to large global financial institutions
  • The money has been repaid
  • sketchy collateral
  • surprisingly sketchy collatera
  • Royal Bank of Scotland received $84.5 billion, and Dexia, a Belgian lender, borrowed $58.5 billion from the Fed at its peak
  • provided this much assistance to the biggest institutions for so long, and then to have done in effect nothing for the homeowner, nothing for credit card relief.”
  • Mr. Todd also questioned the Fed’s decision to accept stock as collateral backing a loan to a bank. “If you make a loan in an emergency secured by equities, how is that different in substance from the Fed walking into the New York Stock Exchange and buying across the board tomorrow?”
  • espouses the principle that all men and women are equal under the law,” Mr. Kane said. “During the housing bubble and the economic meltdown that the bursting bubble brought about, the interests of domestic and foreign financial institutions were much better represented than the interests of society as a whole.”
  • THIS inequity must be eliminated
  • regulators who have a duty to protect taxpayers should require these institutions to provide them with true and comprehensive reports about their financial positions and the potential risks they involve.
  • The banks really feel entitled to hide their deteriorating positions until they require life support.
  • financial regulators are captured by the companies they oversee,
  • if we do nothing to protect taxpayers from the symbiotic relationship between the industry and their federal minders, we are in for many more episodes like the one we are still digging out of.
  • EVALUATING bailout programs like the Troubled Asset Relief Program and the facilities extended by the Fed against “the senseless standard of doing nothing at all,” Mr. Kane testified, government officials tell taxpayers that these actions were “necessary to save us from worldwide depression and made money for the taxpayer.” Both contentions are false, he said.
  • “Thanks to the vastly subsidized terms these programs offered, most institutions were eventually able to repay the formal obligations they incurred.” But taxpayers were inadequately compensated for the help they provided,
  • Government officials rewarded imprudent institutions with stupefying amounts of free money
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