Retailers are preparing for a triple whammy as the restoration of the payroll tax, surging gas prices, and stagnant employment and wages take a bite out of consumers’ disposable income, leaving them with less cash to spend on clothing, groceries, and eating out.
As a result, more than three years after the recession officially ended, American consumers might be preparing to downshift again, if only slightly, with low-income consumers hit the [...]
Pakistan and Afghanistan look on the spectacular landslide re-election of Barack Obama for a second term as US president with some trepidation. Pakistan has just come out of a nine-month breakdown of all talks with the US, the worst state the two countries relationship has been in for 60 years. Pakistan thinks the US under Mr Obama has no strategy, while the US thinks Pakistan lies as it continues [...]
Eclectica Asset Management CIO and co-founder Hugh Hendry told a panel at the Milken Institute’s 2012 Global Conference yesterday that his biggest fear in Europe was confiscation of his and his client’s assets.
The poor health of the banking sector amid tepid growth and concerns about the future of the monetary union, he said, could ultimately result in the nationalization of the financial sector. That’s driving his unwillingness to be invested in Europe right now.
Cash-strapped governments embrace gambling after years of worry about cost to society
NEW YORK — A Malaysian company’s plan to build a $4 billion convention center and big-time casino on the outskirts of New York City could be the biggest shot fired yet in a tourism arms race that has seen a growing number of Eastern states embrace gambling as a way to lure visitors and drum up revenue.
New York Gov. Andrew [...]
GSEs Held $2 Trillion in Subprime Loans at Height of Financial Crisis
“according to Edward Pinto of the American Enterprise Institute”
NYTimes answering that:
An Inconvenient Truth - Over at the conservative American Enterprise Institute, two resident scholars, Peter Wallison and Edward Pinto, have concocted what has since become a Republican meme: namely, that Fannie Mae and Freddie Mac were ground zero for the entire crisis, leading the private sector off the cliff with [...]