Robert Oak's blog

About that Chinese March 2010 Trade Deficit, Can you even trust their numbers?

Submitted by on

As expected, the China March trade deficit is being used as political cannon fodder to claim China does not manipulate it's currency. (Uh, yes they do).

Firstly, the numbers

The $7.24 billion trade deficit in March reported Saturday by China's customs administration was China's first since a $2.26 billion deficit in April 2004.

The claim is imports rose 60% from January to March, 2010.

Exports $112.11 billion in March, up 24.3 percent from a year earlier. Imports reached $119.35 billion, up 66 percent compared to the same period last year.

In the first three months of this year, China still posted a global trade surplus of $14.5 billion, down 76.7 percent from the first quarter of 2009. The trade surplus was $7.6 billion in February and the combined January-February surplus was $21.8 billion.

The Latest Implausible Denials from the Con Men of Wall Street

Submitted by on

Yet another hearing, yet more denials and refusal to accept any responsibility in the Financial crisis.

I'm sick to death of this frankly and say, put them in jail and be done with it. If one cannot put them in jail, pass laws to do so with ease and be done with it.

I also propose bloggers put together a financial reform bill, all publish it on their blogs, and demand Congress pass it. It seems every one monitoring these events knows exactly what to do (including break up the big banks), except our Government.

Seriously, is anyone else sick to death of Congressional continual pussy footin' around? An admonishment here, a scolding there, in some obscure hearing on capital hill? No consequences, no concrete changes in law, no real action. All hat, no cattle, pomp and circumstance.

With that, Dylan Ratigan did a segment, which sums up what's really going on with financial reform.

Must Read Posts for April 6, 2010

Submitted by on

On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.

Sometimes though, one cannot say it better but miss those who did.

Must Read Post #1

An New York Times op-ed by Koniah, Cohen, Dana & Ross, How Washington Abetted the Bank Job , blasts Ben Bernanke claiming he knew nothing on the Lehman 105 repo use. They also call out all of Washington.

You're Fired then Company Sics Attorney Dogs on You to Deny Unemployment Compensation

Submitted by on

A New York Times article headline flashes Contesting Jobless Claims Becomes a Boom Industry. Yup, that's right, corporations fire people and then hire attorneys, who are assuredly expensive, just to deny you your merger unemployment check.

With a client list that reads like a roster of Fortune 500 firms, a little-known company with an odd name, the Talx Corporation, has come to dominate a thriving industry: helping employers process — and fight — unemployment claims.

Talx, which emerged from obscurity over the last eight years, says it handles more than 30 percent of the nation’s requests for jobless benefits. Pledging to save employers money in part by contesting claims, Talx helps them decide which applications to resist and how to mount effective appeals.

Must Read Posts for April 3, 2010

Submitted by on

On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.

Sometimes though, one cannot say it better but miss those who did.

Must Read Post #1

Simon Johnson does a real call out in The Most Dangerous Man in America: Jamie Dimon:

The second type of banker is much more dangerous. This person understands how to control risk within a massive organization, manage political relationships across the political spectrum, and generate the right kind of public relations. When all is said and done, this banker runs a big bank and – here’s the danger – makes it even bigger.

Jamie Dimon is by far the most dangerous American banker of this or any other recent generation.

Must Read Post #2

Friday Movie Night - To rob a country, own a bank

Submitted by on

hot buttered popcorn It's Friday Night! Party Time!   Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!

 

Bill Black, an outspoken critic of the financial sector and lack of regulation, tells it like it is. Kansas City Federal Reserve President Thomas Hoenig also is telling it like it is on Financial Reform as well as the need to restructure the U.S. economy. First, below is an interview with Bill Black. Next is a FOX (yes I know) interview with Thomas Hoenig. If you can't stomach FOX, there is an print and audio interview on the Huffington Post, or listen (last media item in this post) to the raw audio interview.

Bottom line, these two men are speaking out and speaking out loudly with some plain truth and good old fashioned common sense. Bravo!

Pages