I think that this is fascinating. Here’s what the Machinists say: “Mike Huckabee was the only Republican candidate with the guts to meet with our members and the only one willing to figure out where and how we might work together,” said Buffenbarger. “He is entitled to serious consideration from Read more…
The AP has a story on Bush’s proposals on housing and the subprime mess. I am glad to see that "no bailout" is part of the answer. A lot of people are saying that we have pulled out of it. There were two sentences that should remind people that the Read more…
Marc Ambinder reports that the International Association of Machinists and Aerospace Workers endorsed Mike Huckabee. I wonder how many of these are Republicans? Does it hurt Huckabee by confirming his less-than-conservative economic record?
This week the stock market seems a little more stable, and the fed has injected more liquidity in the markets. But don’t be confused. Things are bad and could get much, much worse. The top-line story is that July foreclosures are 9% above June. Recall several facts. First, foreclosures come Read more…
Marc Ambinder was sent a letter by a Democratic economist and asks whether the political world is ignoring the economy. I wonder if it matters? Doesn’t the economy re-assert itself? re: "When I come back I want to come back as the bond market, because then you can intimidate everybody." — Read more…
Marc Ambinder catches this: In case you missed it, Chuck said on MSNBC earlier that Bill Clinton, in private conversations, has said that he couldn’t win the Democratic nomination in this environment; the party had shifted to the left on trade
Cramer blew up on CNBC. It’s on Drudge. Blah blah blah. Read what he actually said. And think about what that will mean politically: No, we have Armageddon. We have Armageddon … Will somebody come on TV and tell people how bad it is. … We have thousands of people Read more…
FT has a story about some of the problems: Ben Bernanke, Federal Reserve chairman, said last week that the central bank now thinks the economy will not return to close to its trend rate of growth until some time into next year. Earlier on, policymakers had talked about a return Read more…
This morning, Novak said: It is difficult to exaggerate the pessimism about the immediate political future voiced by Republicans in Congress when not on the record. With an unpopular president waging an unpopular war, they foresee electoral catastrophe in 2008, with Democratic gains in both the House and Senate and Read more…
From Bloomberg this morning in a story about the collapse of the housing market in Georgia, you can see the macro situation: Bear Stearns, the second-biggest U.S. underwriter of mortgage-backed securities now reeling from the worst housing decline since the 1930s, never planned to take possession of the three-bedroom house. Read more…