Daily Readings 01-05-2012
America IS the 1%: You need just $34,000 annual income to be in the global elite… and HALF the world’s richest people live in the U.S. - While the Occupy Wall Street movement has focussed on the top one per cent of earners in the U.S., Branko Milanovic, a World Bank economist, has suggested that anti-inequality protesters should be more concerned with wealth disparity across the globe.
The Other Reason Europe Is Going Broke - After decades of trying, Europe as a whole still can’t quite figure out how to be flexible enough to compete in the global economy
Fed says expand Fannie, Freddie role to aid housing - The U.S. government-run mortgagefinance firms Fannie Mae and Freddie Mac could play a bigger role in turning around the battered U.S. housing market, the Federal Reserve told Congress, a call that looks set to run into stiff political opposition. LOL
Don’t Count on Housing Market to Lead Recovery - The best that can be said about the current market is that it offers abundant affordability and that the broader economic recovery doesn’t depend on a big housing rebound.
Improvising Housing Policies - “What are we trying to accomplish?”
Hans im Glueck - HA-HA
What happened to spending cuts? - Debt ceiling to surge to $16.4 trillion
Obama bypasses Senate to fill labor board posts - President Barack Obama recess-appointed three members to the National Labor Relations Board on Wednesday, bypassing fierce opposition from Republicans who claim the agency has leaned too far in favor of unions.
