Green Shoots & Leaves
Yahoo Finance – Even as the US economy recovers, a decade of joblessness and flat wages could lie ahead.
The Market Ticker – Just hours after federal agents charged banker Allen Stanford with fleecing investors of $7 billion, the disgraced financier received a message from one of Congress’ most powerful members, Pete Sessions.“I love you and believe in you,” said the e-mail sent on Feb. 17. “If you want my ear/voice — e-mail,” it said, signed “Pete.”
Times Online – Anxious families are repaying debts instead of spending in the shops, amid concern over the uncertain economic outlook. The share of income saved in banks and building societies has risen to its highest level in more than a decade, heightening fears that faltering consumer demand could prolong the recession (Wow, the depression is OUR fault?).
Bloomberg - U.S. 2-Year Yields Highest Since October After $44 Billion Sale
John Galt – the U.S. economy is still in fact contracting when you subtract the witch doctor accounting (FASB 157 repeal) and “stimulus” spending. Let’s take a look at the numbers I prefer to watch and that would be New Orders for Durable Goods, non-seasonally adjusted (Raw data) on a year over year basis:
Truth Alliance – How 16 ships create as much pollution as all the cars in the world Fairfield Weekly- ShadowStats.com founder John Williams explains the risk of hyperinflation. Worst-case scenario? Rioting in the streets and devolution to a bartering system.
Zero Hedge – Iraqi Oil Output to Rival Saudis, But Can Iraq Escape the Resource Curse?
MSNBC (spit) – The recession’s jobless toll is draining unemployment-compensation funds so fast that according to federal projections, 40 state programs will go broke within two years and need $90 billion in loans to keep issuing the benefit checks.
Bloomberg – A 26-mile-long line of idled oil tankers, enough to blockade the English Channel, may signal a 25 percent slump in freight rates next year.
John Galt – 2010 predictions, prognostications, and prayers
Market Oracle – A Year on From Financial System Collapse, Something is Not Quite Right
My Budget 360 – Top 1 Percent Control 42 Percent of Financial Wealth in the U.S. – How Average Americans are Lured into Debt Servitude by Promises of Mega Wealth.
