Money Trickles North as Mexicans Help Relatives – … a startling new phenomenon has been detected: instead of receiving remittances from relatives in the richest country on earth, some down-and-out Mexican families are scraping together what they can to support their unemployed loved ones in the United States. … – NY Times
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The Young Are About to Get Shafted – Terry Savage – For years, I’ve been predicting America’s greatest divide would be generational warfare. Now, those predictions are coming true. Even though I find myself on the far side of the divide, here’s a warning to those under age 50: We older grownups outnumber you—and we vote! So beware of the new financial burdens we’re about to impose on you. – MoneyShow.com
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Banking Fix Made Easy With Six Simple Steps: Roger Lowenstein – Bloomberg
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Liquidity, OTC Market and TBTF Banks – Rortybomb – … So dealers hedge. Constantly. The cheapest way for dealers to hedge is internally … TBTF banks don’t want (and given the times we live in, I might even say “allow”) these products to trade openly because they make excess rents by keeping the market opaque for competitors. … – Rortybomb Blog
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The Coming Deficit Disaster – By DOUGLAS HOLTZ-EAKIN – The president says he understands the urgency of our fiscal crisis, but his policies are the equivalent of steering the economy toward an iceberg. – WSJ Opinion
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WHAT HAPPENS WHEN THE GOVERNMENT STOPS PROPPING UP THE HOUSING MARKET? – … According to Annaly Capital Management, these programs are having an especially profound impact on the housing market. As we’ve often argued, many of these programs are nothing more than grandiose wastes of taxpayer dollars and do nothing more than kick the can down the road while adding substantially to the debt burden of the future … – The Pragmatic Capitalist