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Turmoil Continues in Banking SectorThree more banks failed Friday, marking the highest volume of bank failures in one day since the Savings and Loan crisis. ... |
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Iceland gets $4.6 billion bailoutNordic countries agreed to lend struggling Iceland $2.5 billion to help it recover from a series of crippling bank failures, bolstering a $2.1 billion aid package from the International Monetary Fund, their governments announced Thursday. ... |
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CPI drops 1% in October (12% annualized)Steve Verdon believes this to be good news for the economy. Quite the contrary, deflation is very bad news unless it’s mild and temporary. When the average price level goes down, employers are forced to cut wages or lay off workers. Debtors have a harder time paying off their loans when dol... |
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Regulators Seize BanksU.S. regulators seized Franklin Bank in Houston and a small Los Angeles bank, raising the number of bank failures this year to 19. ... |
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The Starbuck Theory of EconomicsYou don't need Malcolm Gladwell or those Freakonomics guys to tell you that Americans love to have their economy lessons consumed in small, bite-sized pop culture nuggets. So when your country's finances are failing and you have to drink a iced triple shot, no foam, extra tall, sea-salt caramel ... |
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The UK government sticks to its prioritiesYou might think that with all the worries about recession, bank failures and so on, that political leaders might want to avoid making ever greater commitments on public spending. Not so. Just to remind us about the kinds of concerns that animate the political classes, here is this story: Everyone... |
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