Some Links For Friday July 25 2008
July 25th, 2008 5:22 am | by John Jansen |This one will be hard to top. Reuters reports that our European cousins want the Fed to raise rates. There has been no job growth this year as businesses shed workers. The unemployment rate is on its way to 6 percent. The declines in home prices are unabated. The financial system is strained to nearly the breaking point.
Raising rates here would be akin to the ancient practice of bloodletting to cure disease. it would have a far more debilitatating effect on the system and would likely to lead to additional problems in the near future.
JPMorgan supposedly forming a consortium which would dissect troubled UK mortgage lender HBOS.
The capitalist concept of entrepreneurship has truly taken hold in China. This is a different cultural revolution .
This is a marvelous story from the WSJ on the end of the cycle of deregulation and uninvolved government which has dominated in America for three decades
