Archive for July, 2009
2Q Profits: Cost and Tax Cuts>Revenue Loss
From Reuters: Corporate cost-cuts: early gains soon turn to pain? Tue Jul 21, 2009 4:43pm EDTBy Nick Carey – Analysis CHICAGO (Reuters) Much of Corporate America has slashed costs to stay in the black during the recession, but wielding the knife too heavily could also remove the ability to grow in a recovery. “If you ...Read more.
Key US Companies Report Strong 2Q Profits
From The Financial Times, again:Profits boost for US industryFinancial TimesBy Hal Weitzman in Chicago and Michael Mackenzie and Francesco Guerrera in New YorkPublished: July 21 2009 19:22 | Last updated: July 21 2009 19:22 Corporate America took another step along its long road to recovery on Tuesday as companies from the industrial heartland of Peoria ...Read more.
China To Use Forex Reserves for M and A
From The Financial Times: China to deploy forex reserves By Jamil Anderlini in BeijingFinancial TimesPublished: July 21 2009 19:09 | Last updated: July 21 2009 19:09 Beijing will use its foreign exchange reserves, the largest in the world, to support and accelerate overseas expansion and acquisitions by Chinese companies, Wen Jiabao, the country’s premier, said ...Read more.
What's Your IQ?
Inequality Quotient, that is. Cornell University’s Center for the Study of Inequality is offering an online quiz to test your knowledge of current data on wealth, income, and racial inequities in the U.S. When you’re done with their 12 questions, you get a histogram that shows how you fared relative to other quiz-takers. (Hat tip ...Read more.
Recession Buster
Mark Mueller’s motto is “God, Guns, Guts, and American Pick-Up Trucks.” The owner of Max Motors in Butler, Missouri used to give away handguns with every car purchase, but times are tough for car dealers and he’s had to upgrade his promotion. So he’s giving away a voucher for an AK-47 to go with your ...Read more.
Revisiting Bretton Woods (Literally!)
Want to taste the same four-course meal that John Maynard Keynes enjoyed? You can mark the 65th anniversary of the Bretton Woods International Monetary Conference at the place where it all began, as The Mount Washington Resort is celebrating its own place in history next weekend. The upscale hotel in the White Mountains of New ...Read more.
Jon Stewart on Goldman Sachs
I can’t figure out how to embed it here, but the folks at Seeking Alpha did–a great segment from Jon Stewart taking on Goldman Sachs, in the vein of Matt Taibbi (whose Rolling Stone article about Goldman Sachs we’ve reported here). Watch the video here. Speaking of Matt Taibbi, he was interviewed last week on ...Read more.
What Kind of Reporting Do We Deserve?
A nice plug for D&S over at Counter Economics blog, where the main blogger is an e-subscriber to D&S. He singled out for praise Jerry Friedman’s article Bernanke’s Bad Teachers, which we just posted to the website.What Kind of Financial and Economics Reporting Do We Deserve? The differences between conventional media and the publication Dollars ...Read more.
UN Calls for Overthrow of Free Market Ideology
From yesterday’s Telegraph.. The United Nations has called for a return to state-led “industrial policy” for poorer countries in what amounts to a rejection of the free-market thinking that has dominated global institutions for the last 30 years. By Ambrose Evans-PritchardPublished: 8:04PM BST 16 Jul 2009 Supachai Panitchpakdi, head of the UN Conference on Trade ...Read more.
Economy Is Even Worse Than You Think (WSJ)
From Tuesday’s WSJ: The average length of unemployment is higher than it’s been since government began tracking the data in 1948. By MORTIMER ZUCKERMAN | July 14, 2009 The recent unemployment numbers have undermined confidence that we might be nearing the bottom of the recession. What we can see on the surface is disconcerting enough, ...Read more.
