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Archive for the ‘Economy’ Category

Congress vs. Wall Street

Which institution is more disliked, Congress or Wall Street? The Financial Times today writes about President Obama’s trip to Iowa, “in an attempt to fire up disillusioned supports and fend off a rout in November’s congressional elections”. The article concludes with a quote from Bill Schneider, an analyst at the left-leaning Third Way think tank: If there […]

Goldman: brokers and shorts are now the bad guys – how did that happen?

Last Saturday, the Senate Permanent House Committee on Investigations released email messages among Goldman Sachs executives in 2007 saying that they would make “some serious money” by betting against the housing market. According to the New York Times, these messages “appear to contradict statements by Goldman that left the impression the firm lost money on […]

SEC-Goldman: enough with the conspiracy talk

The SEC’s filing of a civil lawsuit against Goldman Sachs is clearly convenient for the Obama administration and the Democrats, considering that this is a critical period for financial reform legislation. But some critics have gone further and suggested that the timing indicates a conspiracy between the SEC and the administration. The SEC is an independent agency, and therefore […]

Goldman Sachs: villain in a dumbed-down fable

Thumbnail : Goldman Sachs: villain in a dumbed-down fable

UPDATE: This post has been re-published as an article in spiked (here). The media is in a frenzy over Goldman Sachs. On Friday the Securities and Exchange Commission (SEC) charged Goldman Sachs of securities fraud in a civil lawsuit. The SEC claims that the Wall Street giant deceived clients by selling them a subprime mortgage investment […]

The Chinese are coming! (maybe)

Thumbnail : The Chinese are coming! (maybe)

A couple of articles this week indicate that the Chinese economic presence in the US may be increasing in the near future. First, an article in Tuesday’s Wall Street Journal reported that “Chinese companies are increasingly looking to invest in the US, and state and local governments are scrambling to win a share of the […]

The return of the consumer

“American consumers are finally coming out of hiding,” reports the New York Times today. Retail sales are up, and people are now spending on items other than food and medicine, such as clothes, jewelry and cars. Greater consumer spending is another sign – along with increasing employment and higher factory production – that economic recovery […]

Google: don’t be holier-than-thou

Thumbnail : Google: don’t be holier-than-thou

Google has been applauded for its anti-censorship stand against China. But it’s not the role of companies to take moral or political stands, and we shouldn’t praise them when they do In January Google announced that it would no longer self-censor its search engine in China, referencing attacks from hackers to access Chinese political activists’ emails. This past […]

After health law, Washington is still disconnected from the people

There is something incongruous about the celebrations among President Obama, his cabinet members, and other Democratic leaders the past few days, to mark the passing of the healthcare bill. Yesterday’s ceremony at the White House in which President Obama signed the bill into law was described as “raucous”, with the Democrats in attendance “jubilant and […]

Rapid decline of the US empire?

In this video, David Murrin, Chief Investment Officer of the hedge fund Emergent Asset Management, says the US will decline sooner than expected, and China will emerge as the superpower to fill the vacuum. This is the thesis of Murrin’s book, Breaking the Code of History, in which he argues that America’s decline is actually the […]

New law doesn’t make health coverage a right

Today at the White House, President Obama signed into law the healthcare reform bill. Towards the end of his speech to mark the occasion, Obama said: “We have now just enshrined, as soon as I sign this bill, the core principle that everybody should have some basic security when it comes to their healthcare.” Commentators […]

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