Greece Gets TARPed
The euro is saved, for now. But a lawless rescue is a permanent blow to credibility.
The euro is saved, for now. But a lawless rescue is a permanent blow to credibility.
The recession is so over, the consumer is still king, and the "new normal" is off the table.
The new systemic risk: liability for past sins and heightened clamor for regulation.
...then why haven't consensus earnings -- or stocks -- tracked on the upside?
The FOMC meets, facing a secular breakdown in the labor market.
The Fed had nothing to say, so it said nothing. So it's no exit as far as the eye can see.
A weak quarter: no "new normal," but no "V-shaped recovery" either.
Thanks to Greece it's at all-time highs in euros -- but why is it surging in dollar terms, too?
The duality continues: growing employment and growing unemployment at the same time.
A painful lurch toward European federalism, but it's not clear it will restore confidence.