Lew Rockwell looks at the downturn in the economy from a "glass half full" perspective, arguing that recession is the medicine required to cure an unhealthy economy of its overindebtedness and low savings rates. Please read: The Downturn is a Good Thing I couldn't agree more.
Mike Shedlock writes about how gold and silver are reacting to the deflationary credit crunch with Gold, Silver and the Great Unwind and Kevin Depew chimes in on the same subject in Panic Selling in Gold: What's next?
Friday, August 15, 2008
Best of the Net - Thursday, August 15
Mike Shedlock writes about the slowing global economy, currency markets and the deflationary effects that are now coming to the forefront in Implications of the Slowing Global Economy
Paul Kasriel writes about Thursday's economic numbers (Euro Growth, US inflation, jobless claims) with his daily commentary
Tim Iacono writes about the convoluted manner in which the BLS reports the homeownership portion of its CPI calculation. He calls it A Complete and Utter Failure of Owners' Equivelant Rent
Yves Smith at Naked Capitalism writes about the continuing disconnect between credit and equity markets in Stock, Bond market disconnect on Mortgages, Financials
Paul Kasriel writes about Thursday's economic numbers (Euro Growth, US inflation, jobless claims) with his daily commentary
Tim Iacono writes about the convoluted manner in which the BLS reports the homeownership portion of its CPI calculation. He calls it A Complete and Utter Failure of Owners' Equivelant Rent
Yves Smith at Naked Capitalism writes about the continuing disconnect between credit and equity markets in Stock, Bond market disconnect on Mortgages, Financials
Wednesday, August 13, 2008
Best of the Net - Wednesday August 13, 2008
In an interview with Bloomberg, Dennis Gartman gives very convincing reasons for commodities to continue their decline, while the dollar is to begin a new bull market as capital flees Europe and finds a new home in the US. Watch the interview here.
Calculated Risk notes that US Miles Driven Declines 4.7% from June
This could be seen as a sign that the economy is slowing, so businesses are cutting back their shipments and the unemployed are obviously not driving to work anymore. It could also be a sign that prices were just too high, so people cut back on driving they didn't absolutely need to do. It's likely a combination of the two.
Barry Ritholz writes on the $500,000,000,000 in losses so far accrued and the capital that is still needing to be raised to offset it in Bank Losses: Half a Trillion and counting
Thomas Woods gives a historical account of the Roosevelt gold confiscation during the last depression with The Great Gold Robbery of 1933 Will they try it again?
Calculated Risk notes that US Miles Driven Declines 4.7% from June
This could be seen as a sign that the economy is slowing, so businesses are cutting back their shipments and the unemployed are obviously not driving to work anymore. It could also be a sign that prices were just too high, so people cut back on driving they didn't absolutely need to do. It's likely a combination of the two.
Barry Ritholz writes on the $500,000,000,000 in losses so far accrued and the capital that is still needing to be raised to offset it in Bank Losses: Half a Trillion and counting
Thomas Woods gives a historical account of the Roosevelt gold confiscation during the last depression with The Great Gold Robbery of 1933 Will they try it again?
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