RW: That’s just preying on the public’s fears. 2012 is over three years away, and GM better be sizing down by then!
A new take on the job report by Macro Man, Frozen:“Macro Man and his companions were only the only frozen things in the market, however. Friday's US employment report confirmed that hiring across businesses has been well and truly frozen, as November job losses were the worst since December 1974, when Macro Man was but three years old.”
RW: I now know that Macro Man is 4 years older than I and graduated high school in 1989.
From WSJ Real Time Economics, BIS: No Evidence of Second-Round Effects From High Oil Prices: “But a paper by two BIS economists found that in recent years “higher commodity prices have generally not spawned strong second-round effects on inflation.” That suggests that a number of central banks were wrong to leave their key interest rates unchanged until well after oil prices began to fall from mid-July, and until after the intensification of the global financial crisis from September on made it inevitable that much of the global economy would enter a recession.”
RW: In other words, Trichet got it wrong.
From the Skeptical Optimist, The USA's debt burden, according to the TIT Ratio: “Notice that our current ability to afford the federal debt is better than it was at the end of 2000 — even though we've been adding debt at a fast pace recently. (Reasons: our economy has grown, and the interest rates have dropped.) The good news today: we have lots of room to borrow because there are plenty of investors willing to buy Treasury securities at low interest rates (near-zero rates, in fact).”
RW: Haven't had a lot of time to think about this, but still, it is an interesting concept.
From The Conglomerate, Recession Silver Linings: “So, the recession may be bad if you're my parents, who might like to retire sooner rather than later, but if you're in your mid-20s, have a job, and want to buy a house and maybe a lot of home electronics this Christmas, you're in luck!”
RW: Her number two recession blessing is: Shipping seems to be free. Man, I just bought a pair of Juicy sunglasses (at Rue La La, an online trunk store – membership only, so send me an email if you would like to be invited) for my sister-in-law and paid shipping (and was quite upset about it).
From the Bing Blog, Can the party please be over?: “While I have nothing but respect and affection for Mr. Colvin, who has probably forgotten more than I ever knew about economics, I do have to say I’m disappointed with this analysis. In fact, it qualifies, I think, as the first salvo of note in what will most certainly be the battle to maintain Big Finance’s right to screw with everybody else’s money as soon as things get back on their feet again.”
RW: Honestly, I thought the same thing when I read this article (or at least along the same lines – can never think like the Bing).
From FOX News (the classiest of them all), 'Hero Dog' Pulls Injured Friend From Oncoming Traffic: “Footage from a traffic camera overlooking a busy freeway in Santiago, Chile captured a dog performing a heroic act — pulling an injured friend from oncoming traffic.
And from my friend, Kerry Hawkins, at K Hawkins Photography and Design: