At a weekend meeting in Istanbul, 200 religious scholars and clerics met with senior Hamas officials to plot a new jihad centered on Gaza. Disingenuously, they called it the Global Anti-Aggression Campaign, a meeting where they called for violent and aggressive jihad against Israel and regimes in the Arabic world. How is that anti-aggressive?

"Gaza ( Read more... )

Protectionism wasn’t the problem or so says Stephanie Flanders, of the BBC.

In a classic work, Milton Friedman and Anna Schwartz say the US downturn of the 1930s was the Fed’s fault, by failing to inject cash into a fragile banking system after the crash of 1929.

At a party for Friedman’s 90th birthday, Bernanke (then a Fed Governor), said ( Read more... )

But is it really that bad? Well, one indicator is the re-default rate. That is the rate at which renegotiated mortgages go back into default.

The data showed that after six months, nearly 37 percent of mortgage loans modified in the first quarter were 60 or more days delinquent.

After three months, 19 percent were 60 or more days delinquent or in ( Read more... )

While this might be good for those of us living in a low cost of living region. It undermines the rest of us who aren’t.

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What’s really bad is the monitoring software they require you to install.

Originally posted on The Slamlander:
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I found this article very enlightening.

In fact, the current economic woes look a lot like what my 96-year-old grandmother still calls "the real Great Depression." She pinched pennies in the 1930s, but she says that times were not nearly so bad as the depression her grandparents went through. That crash came in 1873 and lasted more than four years ( Read more... )