When it comes to economic growth, 2016 is looking a lot like 2015 — and probably even worse.» Read More
We're a little less than two weeks away until the White House releases its 2012 budget and both sides are getting ready to battle.
The Republicans continue to vow to drastically cut spending and the deficit. Senator Ron Johnson, the junior Senator from Wisconsin, but he is quickly becoming a big name among hill Republicans.
Delivering the GOP's national weekly radio address last weekend, Johnson said the root of all economic evil facing our nation is “big government" and uncontrolled spending. Sitting on the Budget and Appropriations Committees, the former accountant and manufacturer hopes his "real world" experience will help re-shape Congress' spending habits.
Tahrir Square in Cairo descends into riots. [CNBC via Reuters]
"Clashes After Egypt's Army Calls for End to Protests" [Wall Street Journal]
Monetary tightening eyed in China. [NY Times]
In New York City, it's icy, slippery, and slushy. [New York Post]
More deal mean higher profits at Lazard. [Dealbook]
One more thing to worry about: An uptick in civil wars. [Business Insider]
Barry Ritholtz on Wall Street compensation. [Ritholtz.com]
Steve Sailer points out why our aid to Egypt doesn’t seem to buy us as much loyalty as it once might have.
The deal struck at Camp David in 1978 was, very roughly, that, in return for no more war, the U.S. would give Israel $3 billion per year and Egypt $2 billion per year \($1.3 billion of which went to strengthen the military\), or $50 per Egyptian per year. That wasn't bad money back then.
Seriously, if I got over the icy bridge at 2am- you can get a move on, too. Here's what you missed while icicles formed on your eyelids:
Are we we experiencing a quiet constitutional crisis?
It’s well known that Judge Roger Vinson ruled yesterday that the individual mandate exceeded the powers of the federal government under the Commerce Clause. But he also ruled that because the law lacked a severability clause and the law’s proponents had argued that the individual mandate was a necessary part of the scheme, the entire law was invalid.
Blackrock sent out a short memo yesterday on the ongoing situation in Egypt.
Most of the analysis is kind of vanilla:
If President Hosni Mubarak says in a speech tonight that he will step down at the next election, as Al Arabiya TV is reporting, I doubt it will do much to satisfy the protesters. If anything, it will likely embolden them.
With at least one million people rallying across Egypt to call for Mubarak to give up power and leave the country, a promise to step down at some future point seems like a request for the mobs to stand down without accomplishing their goal.
What’s more, it is a request made out of weakness—and showing weakness at this stage will make the mobs believe they are closer to achieving their goals and less willing to compromise.
Here's one way to handle things when your marriage goes bad:
The Fed will likely raise rates more than the market expects as inflation ticks up, BAML's Michael Hanson says.
China's foreign reserves fell for a third straight month in January, as the central bank dumped dollars to defend the yuan.
For months we have watched energy, materials, and global industrials weaken on concerns about oil oversupply and slower global growth.