inoculatedinvestor's picture

Turkey Day Readings

Some things I am thankful for this year: John Hussman, The Baseline Scenario, AIG, inept government regulators, and of course, Goldman Sachs. Absent these I would have nothing interesting to write about. So, without further ado, here are some interesting links for those of you who are not enticed by the Cowboys vs. Raiders game.

Leo Kolivakis's picture

California Rumblings?

What's going on in Los Angeles will soon be going on across the US and developed world. Don't think for a second that tough fiscal measures won't be taken to shore up public finances. And this will certainly mean curtailing pension benefits for new and existing public sector employees.

Leo Kolivakis's picture

According to David Dodge, the global financial crisis dealt a severe blow to government revenues and automatically increased some expenditures. Moreover, governments undertook stimulus spending. The combined Canadian federal and provincial deficit in 2009-10 rose to about 6% of GDP, with slightly more than half of this increase due to automatic stabilizers. The comparable deficit in the US was over 10% of GDP.

EB's picture

Fed: GDP is garbage long term

A day before the first revision to Q3 GDP is released, the Federal Reserve tells us it may not be as useful as we've been led to believe.