What Occupy Wall Street Wants: Parsing the Unofficial Demand List
Minyanville's daily roundup of some of the best financial commentary from around the Web.
Link: What Occupy Wall Street Wants: Parsing the Unofficial Demand List
"Figuring out just what the Occupy Wall Street movement wants has been difficult for even reporters who are steeped in policy and liberal platforms. Ezra Klein of the Washington Post heads down to ground zero, both literally and figuratively, for Occupy Wall Street, and comes away with this:" (For related content, Is Occupy Wall Street About Potent Anger or Misguided Radicalism? Six Competing Views)
Link: Point of Maximum Pessimism
"I can't remember having experienced this much pessimism before. 2008-09 was different. Back then it was fear more than pessimism, fostered by investors being hopelessly unprepared for what happened. The present crisis is well advertised, causing more pessimism than actual fear; however, whatever you call it, the current level of gloom and doom is quite simply overwhelming. Marc Faber must be having a field day!"
Link: Steve Jobs and America's Decline
"Earlier this year a Federal Reserve official tried to tamp down worries about inflation by noting that, while food and petrol were getting more expensive, you could now buy an iPad that was twice as powerful for the same price as the previous model. The remark, soon lampooned as "Let them eat iPads", predictably drew derision. But it typified a tactic to which American leaders frequently turn when they need a rejoinder to economic doomsaying: cite an Apple product." (Take a look at, From our Archives: A Perfect Summation of Steve Jobs)
Link: Unemployment's Here to Stay
"There's no particularly good news in these numbers. For every glimmer of good news, like the upward revisions to previous reports totaling 100,000 new jobs or so, there's an offsetting piece of bad news, like the broad U6 unemployment rate jumping up to 16.5% from 16.2%."
Link: What Do You Call This 'Recovery'?
"By now, more than 27 months after the economy officially stopped shrinking and started to grow again, the word "recovery" is starting to look like an imprecise way - at best - to describe what's going on right now. With consensus estimates for Friday's Labor Department jobs report at around 65,000 net jobs added in September, job growth is anemic. Consumer confidence is faltering, and the housing market is still running on fumes." (Also read, Message to Impatient Investors: Deleveraging Is an Incremental Process)
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