Föhrenbergkreis Finanzwirtschaft

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Archive for 20. Februar 2011

Saws to ploughshares

Geschrieben von hkarner - 20. Februar 2011

Date: 20-02-2011
 Source: The Economist
 

ACROSS the European Union, countries are finding it difficult to provide jobs for their citizens. Youth unemployment is a particular concern. But even for those lucky enough to be in work, the pattern of employment varies widely across the continent.

Using data from Eurostat, the official EU statistics body, our interactive chart, below, breaks down the employment make-up of each of the 27 EU member states, along with Norway.
The ex-communist countries that joined the EU after 2004 lead the industry pack, while work forces in the richer, northern states tilt towards services. Romania and Bulgaria, the two poorest and newest EU members, top the agriculture list.

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A Random Walk Around the Frontlines

Geschrieben von hkarner - 20. Februar 2011

Heute, 20. Februar 2011, vor 17 Stunden | John Mauldin

In This Issue:

An Improving Economy
But Where Are the Jobs?
Time for the Fed to Declare Victory and Go Home
Home, Fed Friday, and Tokyo

An Improving Economy

The US economy continues to improve in fits and starts. While industrial production was down 0.1% in January, much of it was weather-related, and December was revised up to a healthy 1.2%. Production surveys indicate that production is likely to continue its upward trend.

Inflation is turning back up. The ECRI Future Inflation Gauge has been up for three straight months and is starting to show that worries about deflation, absent a shock to the economy, are going away. Core inflation is still up only 1% from a year ago, while overall inflation is up 1.6%.

But I want you to note the chart below from the recent BLS release. Notice that inflation for the last six months has risen rather smartly. And for the last three months inflation on an annualized basis is running over 3%, if I did the math correctly.

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Reflexivity, Historic Shifts and New Systemic Economics

Geschrieben von hkarner - 20. Februar 2011

Carlo Resta  RGE Monitor, Feb 17, 2011 7:22PM

The assumptions of the efficient market hypothesis and self equilibrium, previously widely acclaimed, led to unsound economic decisions. They created an intellectual complacency that overlooked the risks behind the ongoing structural crisis. New concepts should guide our future analysis and build the foundations of a new economic and financial theory.

 

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Why No One on Wall Street Goes to Jail

Geschrieben von hkarner - 20. Februar 2011

 Yves Smith, Feb 17, 2011 6:58PM

There’s a fine new piece by Matt Taibbi on the utter lack of criminal prosecutions on Wall Street, particularly of the big perps. He goes through a series of well known instances of actual (to everyone save the prosecutors) cases of chicanery, ranging from Freddie Mac accounting fraud, the protection of Morgan Stanley CEO from insider trading charges, Lehman’s misleading reporting of restricted stock payments, and gives the sordid details of how whistleblowers were ignored and aggressive SEC staff like Gary Aguirre were fired.

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