US, China manufacturing sectors are contracting, as NBER declares a recession.

Posted by on December 1st, 2008 at 04:55pm

Women Discuss Everything at Schmoozins wrote an interesting post today on
Here’s a quick excerpt
Today Mr. Bernanke enlightened us further on his solution to the credit crisis. What they will be doing, in essence, is selling Treasuries to the market in order to accumulate the funds with which the bailouts are financed, and after that, as yields fall to very low levels, buying the same Treasury bonds, and thereby injecting liquidity to the markets. Thus it sound circular? It does, and it is another of the Federal Reserve’s much publicized but eventually useless financial trickery.   Why w

Read the rest of this great post here

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