2nd May 2012
"There is an old saying on Wall Street that when a company does not say anything to investors and the analyst community, then it is all bad." Chris Whalen says since the start of the crisis, Wells Fargo has made an art form out of doing just that. Naked Capitalism
All four scenarios appear to lead to an eventual financial disruption of some sort. Therefore, moderate pro-growth policies seem to be the best bet to minimize the damage. TIME
Matthew O'Brien insists it hasn't happened yet. But Chicago Fed President Charles Evans endorsement of NGDP level targeting suggests a major break with Fed orthodoxy. The Atlantic
Ezra Klien points to weak job growth, rising inequality and a huge credit bubble, as reasons why the Bush economy was actually pretty awful. Wonkblog
China's imports and exports are coming into equilibrium, sharply narrowing it trade surplus with the rest of the world. But the American trade deficit is proving more stubborn, writes Eduardo Porter. New York Times
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