Must See TV: Kudlow goes ballistic on declinism in Obama’s Asia speech

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Airtime: – Fri. Nov. 13 2009 – 5:05 PM ET

Discussing Obama’s plans for Asia, with Andrew Busch, BMO Capital Markets; Stephen Moore, Wall Street Journal editorial board; Zachary Karabell, Rivertwice Research

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November 15, 2009. Tags: , , , , , , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Wall St. Comments off.

World Bank President gives markets reality check: ‘unemployment may cause loan defaults’ Gee ya think?!

Seriously. That is the CNBC headline: ‘Unemployment May Cause Loan Defaults in US’. Well that is a keeper for the No Shxt Sherlock files. In other news Water is Wet!

Since it is the World Bank President saying it and not we little people maybe the markets will BUY A FRAKKIN CLUE!

no-shit-sherlock

CNBC:

Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.

...”You’re going to have problems with delinquencies of credit card loans, consumer loans, people won’t be able to pay their mortgages,” Zoellick told reporters in Singapore. “Some banks are going to continue to be troubled by bad loans.”

Government stimulus spending will likely fuel economic growth through the middle of next year, Zoellick said. After that, consumer spending and business investment must take the baton to boost expansion, he said.

“If you’ve got large scale unemployment, if you’ve got consumers rebuilding savings and deleveraging, I don’t think the consumer is going to play that role,” he said. “What’s the other source of demand?”

Gee that sounds familiar! Cause we have been saying it here at MiM for OVER A YEAR!!

…Governments should execute existing stimulus packages, but hold off on implementing new ones, he said.

Asian authorities should consider ways to tighten monetary liquidity, such as raising interest rates, before asset price bubbles get out of hand, Zoellick said. Asian stock indexes and some property markets have soared since March….

Can you say China bubble? Hong Kong real estate bubble?

November 11, 2009. Tags: , , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Labor Department, Obama Administration, Politics, Popular Culture, Unemployment Statistics, Wall St. Comments off.

Stiglitz sees risks of ‘big bumps ahead for US economy’ & sustained UE in double digits, suggests a need for stimulus round deux

Our previous posts on Stiglitz here his answer is to spend more, OF COURSE IT IS! But Team TOTUS will hang on every word he says so it is good to know what he is saying.

Joe is talking about the UE rate again today see here.. The headline from that link is he sees ‘big bumps ahead for US economy..embed is disabled 😦

Here he is last week:

Bloomberg:

Exclusive Interview with Columbia University Professor Joseph Stiglitz (Bloomberg News)

October 5, 2009. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Taxes, Unemployment Statistics, Wall St. 1 comment.

Marc Faber predicts Zimbabwe-like hyperinflation for US economy…

Sadly I agree, I think Bernanke will be replaced by Larry Summers and if so, Summers will cave to political pressure unlike say Volker in the Bush I era, and he will fail to raise rates or sell MBS’ when necessary, thus we will hit it the hard way, roll a hard 6 as Adama would say….

Smoke ’em if you got ’em, it’s gonna be a looooooong rough patch..

At the very end here of Part 2 of the interview Faber is 100% sure of hyperinflation, continues into Part 3. ..

(more…)

May 28, 2009. Tags: , , , , , , , , , , , , , , , , . Battlestar Galactica, BSG, Economy, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized, Wall St. Comments off.

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