Fareed Zakaria’s capitalist manifesto, Obama’s message to regulators and the three levels of frugality.
- Newsweek. A capitalist manifesto: Greed is good (to a point). “A specter is haunting the world — the return of capitalism. Over the past six months, politicians, businessmen and pundits have been convinced that we are in the midst of a crisis of capitalism that will require a massive transformation and years of pain to fix. Nothing will ever be the same again.”
- The New York Times. Stay the course. “The debate over economic policy has taken a predictable yet ominous turn: the crisis seems to be easing, and a chorus of critics is already demanding that the Federal Reserve and the Obama administration abandon their rescue efforts. For those who know their history, it’s déjà vu all over again – literally.”
- Mish’s Global Economic Trend Analysis. Krugman and McCulley, déjà vu all over again. “Paul Krugman says Stay the Course.”
- The Globe and Mail. More layoffs loom as firms ride out recession, CFOs say. “Chief financial officers confident that economy will be better in 2010; in the meantime the cost-cutting continues, according to a survey.”
- Maclean’s. Harper’s plan to survive the recession. “In releasing his second quarterly update on his “economic action plan,” Prime Minister Stephen Harper today left little doubt about his government’s strategy for thriving – or at least surviving – through this recession.”
- News N Economics. A recession tale in Canada. “Canada.com reports: ‘Canada’s recession, likely its deepest since the Great Depression, may also be its shortest.’ I have no idea what this means, as output loss appears to be rather benign compared to previous recessions. Many developed economies are posting their worst recessions in several decades, but Canada’s 08-09 recession breaks just a 20-yr record as the worst recession since 1990.”
- Bloomberg. Obama’s plan for financial regulation. “A one-on-one with U.S. President Barak Obama.”
- The Business Insider. The recession is over! “We had Schwab strategist Liz Ann Sonders on TechTicker yesterday. Refreshingly, Liz thinks the recession is over. She also thinks, unfortunately, that we may be headed for a double-dip.”
- Thicken My Wallet. The downside of investing in emerging companies. “One of the theories emerging about the bailout is that the Obama administration is trying to reshape American industrial policy towards an economy that makes stuff again, as opposed to merely trading securities, and to make it greener and more environmental sustainable.”
- The Canadian Finance Blog. How much do you need to retire? The rule of 20. “While the 4% rule has become a standard quick calculation for retirement planning, there is a new rule that is similar, The Rule of 20. Last week BNN’s Money Talk had Irshaad Ahmad, President & Managing Director of Russell Investments Canada, on the show to discuss this new calculation.”
- Investing School. The rule of 72. “The rule of 72 is one of those mathematical formulas that are great because it’s so simple, yet effective in showing you the dramatic effect of compound interest.”
- fabeetle. Who needs a financial advisor anyway? “Everyone needs to manage their wealth, taxes, and estate properly. Understanding the risk involved with your investments eliminates any surprises regarding performance. Investors are upset if their investments decline in value, but they are more upset when these funds decline and they didn’t think they could or should have. Misunderstandings and miscommunicated objectives lead to unwelcome surprises.”
- The Prudent Investor. 2 charts imply that U.S. recession may become longest in history. “As I am still looking out for these mysterious “green shoots” in vain that seem to be visible only for the talking heads at CNBC, here are 2 charts that make me wonder whether the current nosedive of the US economy may become the longest recession/depression in the history of the new world.???
- Humble Student of the Markets. Seven fat cows. “Remember the biblical story of Joseph and the seven fat cows? For commodity bulls, this may be the era of the seven fat cows. In a recent article, Cynicus Economicus points out that the world has seen an imbalance between the supply of resources and labour.”
- Fabulously “Broke” … in the City. The three levels of frugality. “Many people NOT part of the personal finance (PF) blogosphere are not really aware of what the word ‘frugal’ really means. I’ve already mentioned why I hate the word frugal, but I have resigned myself to using it for a little while longer until I can get another catchier synonym.”
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