US Economy Expands as Consumer Spending Grows

April 30, 2010

“The U.S. economy expanded at a 3.2 percent annual rate in the first quarter as households spent more freely, setting the stage for gains in employment that may help the recovery broaden and accelerate… [marking] the biggest six-month gain since 2003,” as “consumer spending rose by the most in three years.”

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The Party's Over: China's Endgame

April 30, 2010

Gordon Chang on China: “The analysts and the conventional wisdom they peddle are wrong. China’s economic model, which allowed the Chinese to take maximum advantage of boom times, is particularly ill suited to current global conditions.”

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The Brewing VAT

April 30, 2010

In this week’s Coffee and Markets, we discuss the upheaval in the marketplace in the wake of Greece’s problems and we talk about the White House plan, as advocated by Steny Hoyer and Paul Volcker, to institute a VAT.

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The Republican Army of Moms

April 30, 2010

If Cathy McMorris Rodgers is adopting the Smart Mom strategy — essentially, drafting candidates who are like her — it’s a positive sign that Republicans are getting away from some of the stagnant old traditions which led to a House caucus that currently has only 17 elected GOP women.

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Puerto Rico and Glenn Beck

April 29, 2010

This is a controversial issue, and Beck thrives on the games he plays with his audience on such matters — warning them with a sotto voce tabloid whisper that what he’s about to say will sound like a conspiracy theory, but always emphasizing that he has the facts to back it up. In the case of Puerto Rico, as on a few matters, I don’t think he does.

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The Nicene Creed of Obamanomics

April 29, 2010

[tweetmeme] Tim Carney is an excellent young writer for the Washington Examiner — and his latest post makes a key point about Vikram Pandit’s letter to the White House: I’ve written extensively about how Goldman Sachs is generally on Obama’s side in the regulatory fight and will benefit from the “reform.” Now, CitiGroup’s CEO Vikram […]

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Obama: "At a Certain Point, You've Made Enough Money"

April 28, 2010

President Obama’s statement here from Quincy, IL really cuts to the heart of what this is about — not making sure companies follow the law or that Wall Street is properly policed, but that, as he says, “at a certain point, you’ve made enough money.”

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Finreg: Another Frankenstein Bill

April 28, 2010

[tweetmeme] There’s an interesting provision in this messy and nearly incomprehensible financial services reform bill (the “Restoring American Financial Stability Act of 2010,” an odd name for something being considered at a time when the key problem with our financial services industry may very well be that it is too stable and not taking enough […]

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Europe in Crisis

April 28, 2010

Mead: “The Greek meltdown is on the surface just another financial crisis: yet another delusional country pursuing the path of least resistance has made promises it can’t keep to public and private sector workers… If that were all, it would not be so bad, but something much bigger and more troubling is involved.”

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Goldman: We Didn't Dupe Clients Or Bet On A Housing Bust

April 28, 2010

“Rather than making a big bet against housing, the gaggle of Goldman executives testifying all insisted that there was no broad strategy to profit from a deflating of the real estate bubble. Rather, the order from the top was to reduce risk by reducing or offsetting Goldman’s long position in 2006, they said.”

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