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The Deal That is No Deal - Rodney Johnson / HSDent (12/13/11) The euro zone countries reached an agreement last week that was something of a mystery. To great fanfare, the 17 members of the euro zone announced that the group would sign a new treaty that would call for automatic sanctions against countries that broke the fiscal rules, like a budget deficit greater than 3%. What makes this a conundrum is that the euro zone already has a similar rule. Whenever a country has a deficit higher than this there are supposed to be fiscal sanctions or punishments meted out. But they are not. When both France and Germany ran higher than allowed deficits earlier this decade they simply decided it didn’t matter. Now is different!...or so that is what the members say, because now the punishments are automatic. Really? |
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How Does The US GDP Size Up? - Howard Voyles / HousingMatrix.com
Twice-yearly the OECD publishes growth forecasts
for the world’s largest economies. November’s report lowered expectations and said
the euro zone has fallen into recession. It also warned that the bloc’s debt crisis, now affecting countries previously seen as safe
havens, could “massively escalate economic disruption if not addressed.” Here
are some country-by-country highlights: |
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Pick "yer" Poison - Jeff Thredgold/Tea Leaf If ever there was a monthly U.S. employment report that yielded more than a little confusion, the November release would be the ticket. There was literally something for everyone with an axe to grind—especially Democrats and Republicans… |
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The Reporting of Therft From Your Bank Account - Rodney Johnson/HSDent (12/07/11) “As disclosed on the Federal Reserve’s balance sheet, published weekly and audited annually by independent auditors, total credit outstanding under the liquidity programs was never more than about $1.5 trillion; that was the peak reached in December 2008.”
“As reported in the Annual Report of the Board of Governors, alongside the Board's audited financial statements, the emergency lending programs have generated an estimated $20 billion in interest income for the Treasury. Moreover, in 2009 and 2010, the Federal Reserve returned to the taxpayers over $125 billion in excess earnings on its operations, including emergency lending.” |
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Tech Is on Fire, But California Is Getting Burned - Rodney Johnson/HSDent To say that the tech sector of the market is on fire is an understatement. With companies like LinkedIn, Groupon, Zynga, and Facebook dominating the IPO headlines, each without a tangible product and multiples that would make any analyst blush, there is no doubt that “the way forward” seems to point to the West Coast. So how is the 21st Century gold rush treating the great state of California? Not so well, when viewed from the standpoint of state finances. |
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