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Tuesday, February 24, 2009

Great Recession Roundup — February 24, 2009

Items of Interest:

Andrew Malcolm / Top of the Ticket:
Full text of Obama's speech to Congress and the nation — Here is the text of President Obama's first address to a joint session of Congress, as released by the White House moments ago: — Madame Speaker, Mr. Vice President, Members of Congress, and the First Lady of the United States:

discussion:
Tom Maguire / JustOneMinute: Post Game Show
Kate Phillips / The Caucus: Live Blog: Obama's Address to Congress
Matt Welch / Reason: Speech Highlights? I've Got Two
Donald Douglas / American Power: Obama's State of the Union
related:
The Politico:
Obama: ‘Day of reckoning has arrived’ — We have lived through an era where too often, short-term gains were prized over long-term prosperity; where we failed to look beyond the next payment, the next quarter, or the next election. A surplus became an excuse to transfer wealth …
discussion: Reason
The Huffington Post:
Obama Speech Tonight: Video, Text — The full text of President Obama's address:
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Andrew Malcolm / Top of the Ticket:
related:
Ben Smith / Ben Smith's Blogs:
Jindal accuses Obama of pessimism — The early excerpts of Bobby Jindal's response to Obama's State of the Union are largely standard fare, but the conclusion strikes an interesting note — one hinted at recently by Bill Clinton — accusing the president, basically, of pessimism...
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Calculated Risk:
Case-Shiller: House Prices Decline Sharply in December -- Prices are still falling, and will probably continue to fall for some time...

In Phoenix, house prices have declined more than 45% from the peak. At the other end of the spectrum, prices in Charlotte and Dallas are only off about 9% from the peak.

Prices fell at least 1% in all Case-Shiller cities in December, with Phoenix off 5.1% for the month alone! ...

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Myglesias / Matthew Yglesias:
On So-Called “Irresponsible” Borrowers – Along with the absurd, Santelli-led revolt of the overclass against efforts to help middle class homeowners, there’s been a larger sense that “reasonable” people can all agree that there’s “plenty of blame to go around” and that on some level “irresponsible borrowers” deserve to take their lumps in all of this. I have my doubts...
discussion:
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zero hedge

Calculated Risk

Mish's Global Economic Trend Analysis

Paul Krugman - NY Times

The Big Picture - Barry Ritholtz

naked capitalism - Yves Smith

Pragmatic Capitalism

Washington's Blog

Safe Haven

The Daily Capitalist

Paper Economy

The Daily Reckoning - Australia

GLOOM AND DOOM REPORT

Financial Sector and Stocks Analysis from Seeking Alpha

Gold / Oil

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