25th June 2012
There's some concern out there that the Spanish bank bailout was botched. How? Well, the Eurozone is not lending to the banks directly. Instead, the money is being passed through the government, which in effect adds to the country's debt problems and makes it more difficult for Spain to borrow money. Al Jazeera
Fareed Zakaria says the Eurozone crisis is one the first major economic crises in which the United States is something of a "bystander." More important, dysfunction in Europe has the serious potential of wrecking the US economy and Obama's re-election hopes with it. CNN
The New York Times columnist discusses German-led austerity, and makes the point that no country that has its own currency is experiencing the problems the euro zone now faces. PBS Newshour
The Fed Chairman reminds us once again, that monetary policy is not a panacea and will not by itself solve the ills of a slowing economy. He also said he'd welcome support from any other parts of the government (i.e. the do-nothing Republicans in Congress.) Wall Street Journal
Tom Keene remembers economist Anna Schwartz, who passed away last week at the age of 96 by featuring a quote made by Nobel Laureate Milton Friedman: "Anna did all of the work, and I got most of the recognition." Bloomberg Television
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