Worth a Look
Is an AAA rating good for America? David Reilly at Bloomberg argues that a ratings downgrade is the only way to get Congress’s attention and stop the spending.
Another example of why Brian Wesbury is our favorite economist: Brian gets that–as Andy wrote in a recent client letter– the Fed never pulls back the money until its clear the money is being used; which in turn is why the Fed is always late in reacting to inflation. 
Note to GOP fans: don’t depend on the recession, or even bad employment numbers, continuing through the elections. Employment always lags GDP growth, but as Brian points out hours worked are already up. Employers are going for longer shifts which is their last way of coping before hiring
Broke and Broker: When Fannie and Freddie collapsed in the Summer of 2008 less than 2 percent of their loans were 90 days or more delinquent; those numbers have almost tripled since says the WSJ
What a Relief! Apparently we don’t have to read Hank Paulson’s book.
Tags: aaa, Andrew Redleaf, Brian Wesbury, Hank Paulson, Richard Vigilante, Whitebox, WSJ
