LIVE STREAM: 12:15pm EST – Is the US the “Least Dirty Shirt”?



PIMCO’s Bill Gross calls the U.S. economy the “least dirty shirt.” To borrow from a Flight of the Concords song, you might say that the U.S. is The Most Beautiful Girl in the Room. By virtue of every other economy in the room looking worse and worse, the United States is looking better and better….

What’s Wrong (and Right) With this Recovery



Many people believe that beneath the jitters surrounding the European debt crisis and geopolitical unrest, economic fundamentals are strong and the economy is on a path to a sustainable recovery. But, there are worrying signs that the recovery is fragile and based on temporary government support to consumption and a reflation of some asset markets….

Green jobs: hope or hype?



Even as the entire country shifts gears to health care, some people are still concerned about the devastating numbers of unemployed persons and the government’s efforts to get people back to work. CNN has just run a piece I wrote cautioning the Obama administration on its optimistic assumptions about creating green jobs.

Banks use TARP funds to boost lending – NOT!



As Leo Hindery points out on New American Contract’s latest US Economy Talking Points, the Financial Times may be missing the point about a recently released report on TARP’s impact on bank lending. The headline of today’s Financial Times cover story “Banks use Tarp funds to boost lending,” could not be more misleading.

G20 Should Focus on Solutions, Without Obama



Imagine your country is suffering from the worst financial crisis in nearly a century (as in the UK) or that your export market is collapsing along with the promise of prosperity you’ve made to hundreds of millions of peasants (as in China).