If Ben Bernanke is frustrated by the economy, as he seems to be, he might look at a recent issue of The Economist magazine. Editors there see enough strength that they saw fit to print an illustration of Uncle Sam as a bare-chested muscleman.
STEVE INSKEEP, HOST:
Let's talk about that and more with regular guests on this program, Zanny Minton Beddoes of The Economist. Welcome back to the program.
ZANNY MINTON BEDDOES: Nice to be here.
INSKEEP: And David Wessel of The Wall Street Journal. Hi, David.
This next story is for people who go for old-school technology. If you're the kind of person who owns a tube television - not one of those flat screens - nothing wrong with that. Or maybe you're the kind of person who has an old Walkman with cassette tapes hiding in a drawer somewhere. Maybe you even still use it. And if you're holding on to technology that others have deemed obsolete, you are not alone.
Reporter Tracey Samuelson found some dated devices in a place that might surprise you.
David Bagley, HSBC's head of group compliance, resigned in the middle of a Senate hearing today that was looking into charges that the bank had been lax in meeting government requirements, allowing Mexican cartels to launder money and giving terrorists access to the American banking system.
Federal Reserve Chairman Ben Bernanke told lawmakers that progress toward bringing down the nation's high unemployment rate will be "frustratingly slow." He reiterated previous statements that the Fed stands ready to do more, but declined to be specific about what it would do. Bernanke also defended the Fed's role in addressing the manipulation of a benchmark interest rate by at least one big bank.
Moody's Investors Service says Louisiana's loss of as much as $859 million in Medicaid financing is a "credit negative" for the state.
The notation from the bond-rating agency does not yet affect the state government bond rating — currently high investment grade and stable — but denotes for investors a significant change in the state's balance sheet.
The Times-Picayune reports (http://bit.ly/Q4abRS) the cut is tied to a congressional reduction in Louisiana's federal Medicaid financing rate.
4Chan is a cesspool. That's not even editorializing. A few minutes on the notorious, free-for-all Internet message board that gave birth to Anonymous will — in the famous words of Gawker — "melt your brain."
But every once in a while, they do the right thing — like today.
As Hypervocal reports, last night a 4Chan user posted a picture of someone standing on two containers full of lettuce with the taunting caption: "This is the lettuce you eat at Burger King."
Originally published on Tue July 17, 2012 12:03 pm
High-profile experts are staging two separate Washington press conferences Tuesday to demand action on public-debt problems. One group is targeting state budget crises; the other, the federal budget mess.
If the ancient Greek philosopher Plato were still alive, he might hold a third press conference to declare: "It's hopeless. I told you so. Democracy will always degenerate into chaos because people will vote for their immediate self interests, not the long-term good."
"The U.S. economy has continued to recover, but economic activity appears to have decelerated somewhat during the first half of this year," Federal Reserve Chairman Ben Bernanke tells Congress this morning in testimony prepared for his semiannual report on economic conditions and monetary policy.