left right politics showbiz tech invest good life gossip fun hot
Mother Jones Hot Air Huffpo Variety Engadget Seeking Alpha Lifehacker TheSuperficial Daily Beast reddit
Daily Kos Michelle Malkin Politico Billboard Boing Boing TheBigPicture Luxuo TMZ.com Fark BuzzFeed
ThinkProgress Breitbart First Read CNN Showbiz Gizmodo FT Alphaville Joystiq Perez Hilton 4chan memorandum
Crooks+Liars Power Line CNN ticker E! Online Techcrunch Josh Brown Kotaku gamer Bastardly Post Secret Techmeme
TalkngPtsMemo Ameri..Thinker Swampland TV Guide Ars Technica 24/7 Wall St. TreeHugger Egotastic hascheezburgr Drudge
The Raw Story NewsBusters NYT-politics Ent. News Mashable yahoo-fin Consumerist PinkIsTheNew dooce digg
Wonkette Wizbang 538 popsugar Google blog DealBook lifehack.org CelebrityBaby Someth'nAwful trends
Atrios Taki Magazine WashWhisprs DeadlnHllywd Read/Write Jeff Matthews 43folders GoFugYourself Neatorama PSFK
Firedoglake Epoch Times The Fix MSN Ent. OReilly Radar PhilsStockWorld Autoblog Page Six Cool Hunter BBC
Young Turks IMAO Capital Gains Rot'nTomatoes GigaOM Daily Rec'ng Deadspin BestWeekEver stereogum NYT-trending
Americablog AceOfSpades Open Secrets Ringer-movies ProBlogger Zero Hedge DownloadSqd Dlisted CuteOverload media eye
Politicususa Redstate WikiLeaks law Cool Tools Bespoke MediaZone PopSugar Dilbert blog TVNewser
CounterPunch RightWingNews econ law.alltop M. Brownlee BtwTheHedges Deviant ArtHollyw'dTuna gapingvoid BuzzMachine
TalkLeft Patterico EconLog Volokh Consp. Apple Blog Minyanville Gothamist x17online DailyGrail MediaGazer
Feministing Townhall.com Freakonomics Legal Insurrec.. Valleywag Fast Money Curbed DailyBlabber Prof. Hex Steve Rubel
PolitAnimal OutsideBeltwy CrookedTimbr Conglomerate mozillaZine RealClearMkts FabSugar Gawker OvrheardinNY MediaBlgNRO
Truthdig Moonbattery MarginalRevo SportsLawBlog Smashing W$J Mktbeat Gridskipper Radar Last.fm Threat Level
Alternet RealClearPoli crime W$J Law BlogTechdirt AbnormalRtrns Material Defamer kottke.org Seth's blog
Media Matters Instapundit CrimeblogsBalkinizationMAKE RandomRoger Sartorialist Jossip PumpkinChuck mediamatters
The Nation Hugh Hewitt All Crime Credit Slips SrchEngLand Stock Advisors DrinknMadeEz Just Jared Maps Mania Newshounds
Maddow Blog PJ Media Smoking Gun FindLaw VentureBeat Slope of Hope Mark Cuban Celebitchy CollegeHumor FAIR

Tuesday, April 14, 2009

Great Recession Roundup — April 14, 2009

Items of Interest:

Retail sales in March tarnish economy's glimmers of hope -- A weak March retail sales report out Tuesday suggests consumers are still not in a shopping mode, dealing a setback to the growing hope on Wall Street and in Washington that the worst may soon be over for the battered economy...

Retail Sales, March 2009, year-over-yearCalculated Risk:
Retail Sales Decline in March -- On a monthly basis, retail sales decreased 1.1% from February to March (seasonally adjusted), but sales are off 10.7% from March 2008 (retail and food services decreased 9.4%). Automobile and parts sales declined 2.3% in March (compared to February), but excluding autos, all other sales declined -0.9%.

Stephen Roach / Bloomberg:
Averting Depression as the Consumer Fades

Mish / Global Economic Analysis: Retail Sales Plunge "Unexpectedly"
The Big Picture: Surprise! Retail Sales Fall

The White House blog:
“The House Upon a Rock” -- Perhaps the heart of the [President's] speech was focused on the core weaknesses of the economy that led to the crisis we see now, and the pillars of the new economy the President envisions to ensure such a crisis will be kept at bay in the future...
Now, there's a parable at the end of the Sermon on the Mount that tells the story of two men. The first built his house on a pile of sand, and it was soon destroyed when a storm hit. But the second is known as the wise man, for when "the rain descended, and the floods came, and the winds blew, and beat upon that house, it fell not: for it was founded upon a rock."

It was founded upon a rock. We cannot rebuild this economy on the same pile of sand. We must build our house upon a rock. We must lay a new foundation for growth and prosperity -- a foundation that will move us from an era of borrow and spend to one where we save and invest; where we consume less at home and send more exports abroad...
Floyd Norris / NY Times:
The Case of the Missing Month — I blogged the Goldman Sachs call this morning, starting at 7 a.m. The newest posts are at the top. — 7:50 a.m.| Call Over: The call ended quietly with little additional talk about December.... How Quickly We Forget …
Conor Clarke / The Atlantic Business Channel: Goldman's Big Earnings and Orphaned Losses
Barry Ritholtz / The Big Picture: How to Puff Up Earnings, Goldman Sachs Style
Paul Krugman: Bush budgeting lives — at Goldman Sachs
Matthew Goldstein / BW:
It's Time for Goldman To Give Back AIG Money

Joshua Brown / Seeking Alpha: Goldman Sachs Backlash Picking Up Steam
The Deal: What Do Goldman's Results Mean for Other Banks?

Christine Harper / Bloomberg:
Goldman Sachs's Viniar ‘Mystified’ by Interest in AIG
Yves Smith / naked capitalism: Goldman CFO Viniar “Mystified” by Probes into Relationship with AIG
Eric Zimmermann / The Hill's Blog Briefing Room:
Burr told family to withdraw everything from bank — Sen. Richard Burr (R-N.C.) says when the financial crisis began he encouraged his wife to withdraw all the cash she possibly could from their local bank. — During a speech on the economy last night, Burr related his immediate reaction the week the crisis began...
Matthew Yglesias / Myglesias: Richard Burr is Trying to Start Bank Runs
James Shea / blueridgenow.com: Sen. Burr speaks on economy
Matthew Yglesias / Myglesias:
Wells Fargo Needs Tens of Billions in Extra Capital -- Wells Fargo may have posted a record profit recently, but it’s important to note that left to its own devices the bank would have gone out of business already and not be posting any profits at all. Indeed, it appears to be undercapitalized by tens of billions of dollars...
Chris Bowers / Open Left: Obama Addresses Pro-Nationalization Critics