TOP NEWS: Economy: May 01, 2012
*Obama Fails to Stem Middle-Class Slide He Blamed on Bush *Student Loan Rates May Rise Regardless of Politics: Fitch *Economy Face Off: Ron Paul vs Paul Krugman *Why U.S. House Prices Will Not Recover *Austerity, and the Failure of the Governing Elite
Obama Fails to Stem Middle-Class Slide He Blamed on Bush - Mike Dorning, Bloomberg
Barack Obama campaigned four years ago assailing President George W. Bush for wage losses suffered by the middle class. More than three years into Obama’s own presidency, those declines have only deepened.
Why U.S. House Prices Will Not Recover - Jack Hough, SmartMoney
…Prospective buyers should stop focusing on the vague hope that house prices will jump from here and focus instead on the functional value houses provide for the money.
No Time For Boring Central Bankers - Phillip Hildebrand, Financial Times
At some point, central banks will have to unwind their extraordinary policy measures to safeguard price stability. But right now, what needs to be done to land the emergency life raft safely is well beyond the direct authority of central banks.
China’s Banking Sector Headed For Crisis - Jim Jubak, MSN Money
If you understand the nature of China’s banking problem, you’ll understand why I believe that China’s government will move sooner rather than later, and more aggressively rather than more moderately, to stimulate China’s economy.
Companies Are Finally Sharing Their Cash Hoard - Nancy Miller, TIME
Corporate America, flush with cash, is finally sharing a bit more with shareholders. It’s about time.
Apple: The Power & Profit Behind “Simple” - Mauree Mackey, The Fiscal Times
The complex and entrenched cultures of many big companies prevent them from busting out of the gate with sleek new products or services. By contrast, there’s Apple (AAPL) – and the power of “simple,
Student Loan Rates May Rise Regardless of Politics: Fitch - Brian O’Connell, The Street
Lenders may shy away from student loans due to regulatory uncertainty, which could eventually lead to higher costs.
Economy Face Off: Ron Paul vs Paul Krugman - Paul Krugman, Ron Paul
Nobel-prize winning economist Paul Krugman and Republican presidential candidate Ron Paul talk about inflation, monetary policy and the role of the Federal Reserve. They speak on Bloomberg Television’s “Street Smart.”
U.K. lawmakers say Rupert Murdoch unfit to lead major global company - Associated Press
Scathing report says his company misled Parliament about the scale of phone hacking.
Austerity, and the Failure of the Governing Elite - Charles Kadlec, Forbes
austerity’s so-called shared sacrifice is a loser. The solution lies in restoring the balance between an over-sized public sector and the private sector.
Romney Hires Bush’s Old Economic Gang - Ezra Klein, Washington Post
George W. Bush was president only four short years ago. And it didn’t go so well. So why is the Republican Party so eager to get the old gang back together?