Some Monday morning reading for your pleasure, or displeasure, as the case may be:
1)When economists and financial analysts start quoting Yeats:
Turning and turning in the widening gyre
The falcon cannot hear the falconer
Things fall apart; the center cannot hold
…it may not be an encouraging sign. John Mauldin offers some less-than-cheerful thoughts.
2)On the other hand, the very astute MaxedOutMama sees some positive signs for the U.S. economy, at least in the fairly near term.
3)Fund manager John Hussman offers his usual thoughtful analysis, and applied the game theory concept of backward induction to the current European debt situation.
4)Who benefits from the huge European bailout? Also, Moody’s looks at a possible downgrade of U.S. debt by 2018 or possibly as early as 2013.
Enjoy your morning coffee…
I just read a news story that contained the assertion that 70% of all new jobs added in US since 2008 were added in Texas alone.
That really doesn’t say much for the national economy as a whole. Texas only has 12% of the US population. I don’t see how we can drag along the other 88% of the country.
I think were in for another lost decade like 73-84. Back then the major cause was central banks inflating the currency and governments interfering in the petroleum markets. Now the cause is massive government spending and decades of interference in the financial markets. We’ve just elected the party of massive government interference to near total power and they’ve done everything possible to intensify the interference that caused the problem in the first place.