Archive for June, 2009
Eurozone Moves into Deflation for First Time
From The Financial Times: Eurozone inflation turns negative By Ralph Atkins in FrankfurtFinancial TimesPublished: June 30 2009 11:03 | Last updated: June 30 2009 18:16 Eurozone annual inflation has turned negative for the first time since records began, creating a headache for the European Central Bank as it seeks to draw a line under emergency ...Read more.
Optimism…
They keep saying the UK should emerge faster and stronger than other economies (and that may still turn out to be the case, give horrible performances elsewhere) from the recession–or whatever it is–but the carnage continues to get worse: Economy suffers steepest fall in 50 yearsThe IndependentBy Russell Lynch, Press Association Tuesday, 30 June 2009The ...Read more.
WSJ: Why Cleaning Banks' Books Is So Hard
It was almost impossible to get this without being a subscriber, so I’m reproducing it in full (here’s the link to the article, which has accompanying charts: JUNE 30, 2009Wall Street JournalWary Banks Hobble Toxic-Asset Plan By DAVID ENRICH, LIZ RAPPAPORT and JENNY STRASBURG The government’s plan to enable banks to dump troubled assets is ...Read more.
Steep Increase In Fannie/Freddie Delinquencies
This is bad news: Fannie and Freddie mainly deal in prime, not subprime, mortgages. Job losses are the culprit. From The Wall Street Journal: By JAMES R. HAGERTYJUNE 29, 2009, 4:44 P.M. ETWall Street Journal Fannie Sees Jump in Overdue Home Loans Fannie Mae reported a steep increase in the percentage of home mortgages with ...Read more.
More Background on Coup in Honduras
As the situation in Honduras continues to unfold in unexpected ways, we recommend reading the posts from the America’s Policy Program.
Another chance to see Steve Early
If you can’t make it to Cambridge tonight to see Steve Early talk about his new book, Embedded with Organized Labor: Journalistic Reflections on the Class War at Home (see earlier blog posting), he’ll be speaking next week in Boston, with Elaine Bernard & Rand Wilson. Steve will address his critique of organized labor, and ...Read more.
Economists on Iran
The Union for Radical Political Economics (URPE) has recently updated its Web page on Iran. The site features URPE members whose expertise is the political economy of Iran, many of whom come from Iran. Among the highlights: Reza Ghorashi, Tom O’Donnell, Ervand Abrahamian and Manijeh Saba presented a panel at the 2009 Left Forum (on ...Read more.
TONIGHT: Steve Early on unions — Boston-area event
Meet the author ofEmbedded with Organized Labor: Journalistic Reflections on the Class War at Home A new book by Steve Early, former CWA organizer, labor journalist, lawyer and frequent contributor to The Boston Globe Speaking at: Porter Square Books (at Porter Sq. Shopping Center across from Red Line T-stop) 25 White St., Cambridge, Mass. (617-491-2220) ...Read more.
Background on Military Coup in Honduras
The Honduran military has forcibly taken President Manuel Zelaya and put him on a plane to Costa Rica. Two very interesting reports from the Council on Hemispheric Relations (COHA) discuss the background to the coup.21st Century Socialism Comes to the Honduran Banana Republic discusses the moves that Zelaya had taken as part of the leftist ...Read more.
Bloomberg Preview: June Unemployment
They see a loss of .2% for the month, which will take it up to 9.6%, and attribute the slower pace to long-awaited signs of stabilization in manufacturing: Unemployment Probably Rose at Slower Pace: U.S. Economy PreviewBy Shobhana Chandra June 28 (Bloomberg) Unemployment in the U.S. probably rose at a slower pace and the manufacturing ...Read more.
