The Coming Generational Storm

The Coming Generational Storm: What You Need to Know about America’s Economic Future
Laurence J. Kotlikoff
April 28, 2004

Running Time: 1:04:44

Category: Video

Sovereign debt overshadows solid Q2 GDP

Solid Q2 GDP reports from Europe are being seen as old news and are being overshadowed today by weakness in Southern European debt. Germany reported an annualized Q2 GDP gain of 8.8%, well above expectations of a gain of 5.2%. For the Euro Zone as a whole, Q2 GDP rose 4% annualized vs the forecast…Read More

Category: MacroNotes

Luxury Condos Get FHA Backing

“Something has to happen for this product to be marketable. I just find the whole thing ironic that FHA is providing financing for luxury housing.” -Jonathan Miller, Miller Samuel Inc. > That’s my pal JM discussing condos in today’s WTF?! article. Via Bloomberg, we learn: “The Federal Housing Administration agreed in March to insure mortgages…Read More

Category: Credit, Real Estate, Really, really bad calls

Thursday Linkage

Some decidedly odd reading today, from (mostly) unusual sources: • The great false choice, stimulus or austerity ( • Themis Trading: Sen. Shumer is HFT Industry’s Bitch (Themis) • Eejits! HUD Offers Interest-Free Loans to Reduce Foreclosures (Bloomberg) • Telling Swiss secrets: 222 billionaires (Global Post) • How Soon Will We Face Deflation? (DeLong) •…Read More

Category: Financial Press

Inflation free for 30 years?

The 30 yr bond auction, the part of the curve one can define as the leap of faith maturity in my opinion, was mixed. The yield was a touch above the when issued but the bid to cover of 2.77 was above the 1 yr average of 2.63. The combined direct and indirect take of…Read More

Category: MacroNotes

TDS: Deficit Reducing Tax Cuts?

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c

Category: Humor, Taxes and Policy, Weekend

Bailout Nation States & Municipalities

> Bloomberg’s Chart of the Day shows the growth in federal payouts to state and local governments, also known as grants-in-aid, in the past half century: They have increased almost three times as fast as overall spending during the period, according to data compiled by the Commerce Department. Funds were provided at a $525 billion…Read More

Category: Bailouts, Economy

Fannie Freddie NYT OpEds

There are two OpEds in today’s New York Times regarding the GSEs. One of them is full of insight and intelligence and rationality. The other is by John Carney. The insightful column, Say Goodbye to Fannie and Freddie, was written by former St. Louis Fed president Bill Poole. During the credit bubble and housing boom,…Read More

Category: Bailout Nation, Credit, Federal Reserve, Real Estate, Really, really bad calls

Distorted or not, initial claims still too high

Initial Jobless Claims totaled a disappointing 484k, 19k higher than expected and up from 482k last week. To smooth out the seasonal adjustment problems in July this year because some auto plants shut down and others didn’t, the 4 week average moved to 474k, the highest since Feb. Continuing Claims, up to 26 weeks, fell…Read More

Category: MacroNotes

‘Unusual uncertainty’

Following the July 21st comment from Bernanke that “the economic outlook remains unusually uncertain,” John Chambers of CSCO followed up last night with “we are seeing a large number of mixed signals in both the market and from our customers’ expectations, and we think the words ‘unusual uncertainty’ are an accurate description of what is…Read More

Category: MacroNotes