PRUDENT BEAR U.S. Loses 524,000 Jobs; 2008 Losses Most Since 1945 Geithner Preparing Overhaul Of Bailout U.S. Job-Market Collapse in 2008 Was Probably Biggest Since ’45 “Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.” John Kenneth Galbraith, A Short History of Financial Euphoria by Doug Noland | Jan 2 It was quite a year. The numbers will have to speak for themselves... by Martin Hutchinson | Jan 5 With an unpopular war, a deep recession, an irresistibly growing public sector, excessively rapid money supply growth that may spark off inflation, a dangerously large payments deficit and a workforce excruciatingly vulnerable to international competition, the United States is today in a similar position to that of 1970-71. by Satyajit Das | Dec 15 Where did all the money disappear? Liquid fantasies In this current financial crisis, the quantum of available capital, the munificent resources of central banks and sovereign wealth funds, and the globalization of capital flows may be some of the accepted "facts" that are revealed to be grand illusions. by James Quinn | Jan 5 Unintended Consequences - 20th Century and Beyond The president, Congress, Federal Reserve, and Treasury try mightily to direct our economy. It is an impossible task.Top News
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