NY Governor David Patterson recently commented that state economists’ projections suggest that overall, Wall Street bonuses could fall 30% to 40% this year.
Let us assume the financial system blows up.
Marc Faber
Electronic Publication and the Narrowing of Science and Scholarship
“Ironically, my research suggests that one of the chief values of print library research is its poor indexing. Poor indexing—indexing by titles and authors, primarily within journals—likely had the unintended consequence of actually helping the integration of science and scholarship. By drawing researchers into a wider array of articles, print browsing and perusal may have facilitated broader comparisons and scholarship. “
“My intuition is that they are too early. In an ordinary cycle, this should be the time to start thinking about buying. This isn’t an ordinary cycle.”
—Michael Steinhardt, who returned an average 24 percent a year for almost three decades when he ran his New York-based hedge fund Steinhardt Management Co., said forecasts for an earnings rebound are a false hope.
Most people seem able to provide cogent-sounding reasons for voting the way they do. However, careful observation suggests that these reasons are often merely rationalizations constructed from readily available campaign rhetoric to justify preferences formed on other grounds.
The resulting appearance of “issue voting” was almost wholly illusory
— Bartels
voters simply—and simple-mindedly—rewarded whoever happened to be in power when things got better.
Bartels
If history is a guide, an Obama victory in November would lead to faster economic growth with less inequality, while a McCain victory would lead to slower economic growth with more inequality.
On a new book by Larry M. Bartels, a professor of political science at Princeton: “Unequal Democracy”
“We still have a third-world grid. With the federal government not investing, not setting good regulatory mechanisms, and basically taking a back seat on everything except drilling and fossil fuels, the grid has not been modernized, especially for wind energy.
The United States looked like the biggest emerging market of all.
Once you run current-account deficits, you depend on the kindness of strangers. This might be the beginning of the end of the American empire.
Stilltitled 