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New blog posts

  • U.S. Manufacturing Technology Consumption Bounces 26% Off Bottom
  • Economic Warfare? Europe versus Wall Street
  • Let's Chat Labor Productivity
  • Why we are headed into Depression
  • First Iceland, then the World
  • Creating State Level Jobs Programs: A Jobs Insurance Supplement
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Populist Du Jour

  • Why we are headed into Depression

Vox Populi

  • Holy Cow Batman! SIGTARP Barofsky says U.S. on the hook for $23.7 Trillion in bail out!
  • Subprime meltdown over; now comes the bad news
  • The Deflationary Recession of 2009?
  • The Panic of 2008: a turning point
  • Text of Bail Out Act Before Congress - TAKE ACTION NOW!
  • U3 and U6 Unemployment during the Great Depression
  • Scientist Who Laid Ground Work for Nobel Prize Drives a Bus, Can't get a Job

Active forum topics

  • Outrage Du Jour - California Anthem Blue Cross to raise health insurance rates 39%
  • Manufacturing & Trade Inventories & Sales for January 2010
more

Atlanta Fed's Macroblog

  • Consumer credit, credit availability and The Credit CARD Act
  • In the beginning, there was a lender of last resort
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BEA

  • U.S. International Trade in Goods and Services, January 2010
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iMFdirect

  • This Time It’s Different
  • Something New Out of Africa: A Global Player
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CBO

  • Estimate of the Budgetary Effects of the Senate-Passed Health Bill
  • Presentation on “Fiscal Policy Choices” to the National Association for Business Economics
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powells

GAO

  • GAO-10-365, Electronic Government: Implementation of the Federal Funding Accountability and Transparency Act of 2006, March 12, 2010
  • GAO-10-464R, Revitalization Programs: Empowerment Zones, Enterprise Communities, and Renewal Communities, March 12, 2010
more

Instapopulist

  • Manufacturing & Trade Inventories & Sales for January 2010
  • EU to bail out Greece
  • Retail Sales - February 2010
  • A Letter Worth Reading from Senators Bernie Sanders & Jim Webb
  • Goldman Sachs Made $55.7 million on Build America Bond Fees
  • Trade Deficit decreases $2.6 billion from last month - Trade January 2010
  • State Unemployment Maps for January 2010 - Unemployment increases in 30 States
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Calculated Risk

  • HAMP: About One-Third of eligible Trial Mods approved for Permanent
  • NPR Planet Money: "We bought a toxic asset!"
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Naked Capitalism

  • Guest Post: We Can’t Inflate Our Way Out of the Debt Crisis … So What CAN We Do?
  • Links 3/12/10
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Paul Krugman

  • Beck in the U.S.A.
  • Debt And Transfiguration
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dorgan

The Baseline Scenario

  • The German Finance Minister Needs To Confront Investment Banks
  • Delaying Tactics On Display
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Eyes on Trade

  • GTW Director Lori Wallach Appears on Bloomberg TV
  • Watch Lori Wallach LIVE on Bloomberg TV at 2pm
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Econbrowser

  • Whither the Yuan?
  • Update: the 2010-19 Impact of PPACA on Budget Balance
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TradeReform.org

  • Obama Outlines Drive to Raise U.S. Exports
  • Remarks of President Barack Obama - As Prepared for Delivery
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EconomPic

  • Consumer = Unhappy, but Spending
  • The Changing Face of American Debt
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Economist's View

  • Paul Krugman: Health Reform Myths
  • "Fed Vacancies and the Monetary Challenge"
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Economy in Crisis

  • To what extent are rigged bond auctions being used to 'finance' our 'economic recovery'?
  • Obama's Export Plan Pushing More Free Trade
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The Big Picture

  • Charlie Gasparino Owes David Einhorn (and me) an Apology
  • Hintz Calls Lehman’s Accounting Actions `Shenanigans’
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Credit Slips

  • De-Detour: CDS Nudity on the Exotic Fringe
  • Debt and the People, Part I: The Cold
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Manufacture This

  • Ratcheting up the pressure on China
  • Economist Paul Krugman Discusses China Currency Manipulation
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Alan Tonelson

  • Trade deficit dips; exports, imports fall
  • Obama Launches New Exports Push as Trade Deficit Narrows -- but Hard Road Ahead
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black swan

Beat The Press

  • The Dollar, the Deficit, and Accounting Identities
  • Post Pulls Out the Stops In Pushing Its Trade Agenda
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Nouriel Roubini's Global EconoMonitor

  • The Rise of Sovereign Risk in Advanced Economies
  • RGE's Weekly Roundup
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Zero Hedge

  • After The Bear Trap, The Bull Trap?
  • February HAMP Update: 1.8 Million Eligible For HAMP Out Of 6 Million 60+ Day Delinquent 1st Lien Mortgages
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The Mess That Greenspan Made

  • One million "homeowners" now in loan mods
  • Marc Faber and Mish on Tech Ticker
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Tax Justice Network

  • Evening Standard: How the tide turned against tax avoiders
  • Slim (non-) taxes in Mexico contribute to disaster
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Brad Delong

  • Computer Design: How Should Objects That Are Not Real Behave?
  • The FT Dominates in Berkeley's Brower Center
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New Deal 2.0

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Steve Keen's Debtwatch

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Pension Pulse

  • Return of the Pension Fund Fudge?
  • A Culture of Corruption?
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Angry Bear

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Robert Reich

  • Bail Out Our Schools
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Noslaves.com

  • Finally, a State saves money by hiring Americans and getting rid of H-1Bs
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Financial Armageddon

  • Hyperinflation: Is Black the New White?
  • Not Durable?
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The Media Consortium's blog

Bankruptcy Law is Key to Obama's Foreclosure Fight

Submitted by The Media Consortium on Thu, 02/19/2009 - 09:37.
  • bankruptcy
  • Barack Obama
  • economy newsladder
  • fannie mae
  • foreclosure
  • freddie max
  • loans
  • mortgage securities
  • mortgages
  • Newsladder
  • taxpayers
  • timothy geithner

by Zach Carter, Media Consortium MediaWire Blogger

President Barack Obama unveiled his administration's plan to fight foreclosures on Wednesday. Unfortunately, the most important element of the program will require Congressional action—and the banking and business lobbies are already on the attack. The Homeowner Affordability and Stability Plan has three chief components:

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Weekly Audit: Geithner's Terrible, Horrible, No-Good, Very Bad Bailout

Submitted by The Media Consortium on Tue, 02/17/2009 - 07:39.
  • bailout
  • banks
  • citigroup
  • economic crisis
  • economy newsladder
  • financial assistance
  • loan securitization
  • mortgages
  • Nationalization
  • Newsladder
  • taxpayers
  • timothy geithner
  • Wall Street

by Zach Carter, Media Consortium MediaWire Blogger

In this week's Audit, we're examining Treasury Secretary Timothy Geithner's thoroughly uninspiring bank bailout plan, which fails on almost every level. What's more, some of the most insightful (and stinging) critiques of the proposal are coming from progressive media.

Robert Kuttner offers a strong analysis of Geithner's strategy to salvage the banking industry in The American Prospect, noting that Geithner is explicitly avoiding the simplest and cheapest solution in favor of propping up the current Wall Street regime. The current plan is designed to support a financial architecture that has proven completely ineffective in maintaining the nation's basic economic functions.

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  • 0 points

Weekly Audit: Welfare, Work and the Bailout Bonanza

Submitted by The Media Consortium on Tue, 02/10/2009 - 08:15.
  • autoworkers union
  • bank bailout
  • credit
  • economic recovery package
  • economy
  • economy newsladder
  • food stamps
  • job loss
  • Newsladder
  • timothy geithner
  • unemployment
  • welfar

by Zach Carter, Media Consortium MediaWire Blogger

The U.S. economy lost nearly 600,000 jobs in January, bringing total losses in the past three months over 1.5 million—more than the entire population of Philadelphia. If there ever was a good time to mend the tattered U.S. social safety net, it's now. While unemployment benefits and food stamps remain relatively uncontroversial, basic welfare continues to be neglected by the general media and vilified by the right. And as of this moment, a responsible welfare program is needed more than at any point since the 1930s.

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Weekly Audit: Stimulus Stagnation

Submitted by The Media Consortium on Tue, 02/03/2009 - 12:23.
  • bankruptcy
  • Barack Obama
  • bipartisan
  • Democrat
  • economy newsladder
  • loans
  • marty feldstein
  • mortgage
  • Newsladder
  • recession
  • recovery package
  • Republican
  • Stimulus
  • tax cuts

by Zach Carter, Media Consortium MediaWire blogger

Despite a lofty launch last week, the good ship Bipartisan is sunk, at least so far as the economic stimulus is concerned. President Barack Obama and House Democrats bent over backwards to appease the GOP by including several tax breaks and excluding a major anti-foreclosure measure from the package, but when it came time to vote, zero House Republican backed the bill. Lawmakers who actually care about the fate of the U.S. economy are furious. Every day spent haggling with obstinate Republicans means heavier economic damage. What's more, many of the tax breaks the GOP insisted on are simply terrible policies, whatever the economic climate.

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  • 1 point

Weekly Audit: Obama's Stimulus Plan Signals End of Era

Submitted by The Media Consortium on Tue, 01/27/2009 - 08:25.
  • bank nationalization
  • Barack Obama
  • cbo
  • consumer debt
  • economy newsladder
  • health care provisions
  • henry paulson
  • job creation
  • Newsladder
  • recession
  • recovery package
  • Republicans
  • stimulus plan

by Zach Carter, Media Consortium MediaWire Bloggger

Since the U.S. is officially in a recession, and the Congressional Budget Office has predicted the worst economic downturn since the Great Depression, just about everybody acknowledges that times are tough. Everybody, that is, except the National Republican Congressional Committee. Talking Points Memo's David Kurtz caught the Republican fundraising operation spouting some embarrassing doubletalk on their website earlier this week, including the proud declaration that "the U.S. economy is robust and job creation is strong."

In fact, job creation is non-existent. The U.S. economy is losing over half a million jobs every month and even optimistic Wall Street economists expect unemployment to keep rising for at least another year.

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  • 0 points

Weekly Audit: The Battle for Wall Street Begins

Submitted by The Media Consortium on Tue, 01/20/2009 - 15:54.
  • Barack Obama
  • economic recovery
  • economy newsladder
  • fannie mae
  • financial crisis
  • freddie mac
  • george bush
  • henry paulson
  • Newsladder
  • TARP

by Zach Carter, Media Consortium MediaWire Blogger

"I'm not talking about a budget deficit. I'm not talking about a trade deficit. I'm not talking about a deficit of good ideas or new plans. I'm talking about a moral deficit . . . . We have a deficit when CEOs are making more in ten minutes than some workers make in ten months; when families lose their homes so that lenders make a profit; when mothers can't afford a doctor when their children get sick."

-Sen. Barack Obama, Ebenezer Baptist Church, Atlanta, Jan. 20, 2008

We can drop the "elect" from his title. President Obama is official. Everyone take a deep breath. Let it out slowly. And now let's focus on the work.

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  • 0 points

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