The good news? The (stimulus) checks are in the mail. The bad news? You’re going to need them. Did you see Nobel prize winning economist Joseph Stiglitz on CNBC this past Friday? Here’s what Stiglitz had to say about the U.S. economy:
“The U.S. economy is already in recession, and may echo the 1930’s. This is [...]
Tags: Bill Gross Pimco·Joseph Stiglitz·Lender of last resort·The Fed
Energy analyst Peter Beutel of Cameron Hanover broke bad on “Big Oil” this morning on CNBC. Just as middle America is hurting from the collapse of the housing bubble, soaring food costs, rising unemployment, and a slowing economy, Beutel reported that U.S. refiners are deliberately ratcheting down refining capacity in order to maximize earnings, and inflate gasoline prices. [...]
Tags: Big Oil·Cameron Hanover·Gasoline prices·Peter Beutel·The G-Bomb·U.S. Refiners
I don’t know about you, but I’m getting awfully tired of listening to Ben Bernanke and Hank Paulson tell us about how strong the underlying fundamentals of the U.S. economy are, and how they stand firmly behind a “strong U.S. Dollar policy.”
All the while an alphabet soup of toxic credit instruments continue to implode all [...]
Tags: Ben Bernanke·Bob McTeer·G7 meeting·Gold·Hank Paulson·strong dollar policy·US Dollar