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Did The Stimulus Work?

Someone asked me whether the stimulus worked. The question is fast becoming a feature of the run up to this fall’s elections. Quite why I don’t know. Of course it worked. Here’s the article in the New York Times that discusses the consensus within the world of economics – just check the chart, it tells […]

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Bank Profits: An Illusion

A friend of mine pointed me to research by analysts at JP Morgan who have developed a ‘doomsday scenario’ for the banking industry that assumes all current regulatory suggestions and then calculates their impact on profitability. It doesn’t take much imagination to see that the return on equity will be massively reduced: not only are […]

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More Jobs Frustration

This is probably the way it will remain for a while: the jobs market is clearly stuck and shows very little sign of improvement no matter how much huffing and puffing the Wall Street boosters and financial media try to parse the numbers. Last week initial claims for unemployment insurance rose by 31,000 to 473,000, […]

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