JM Posner

By David J. Lynch, USA Today

“WASHINGTON — For most people, being known as a fabulously wealthy investor, prominent global philanthropist and outspoken critic of the current occupant of the White House would constitute sufficient acclaim.

But George Soros, now in his eighth decade and enjoying a personal fortune estimated at $9 billion, yearns to be seen as something other than a financial oracle or Democratic Party sugar daddy. The Hungarian émigré, who built a worldwide reputation by out-thinking markets, desperately wants to be acknowledged as a philosopher.”

more…

By Janice Revell, Money Magazine

“By now you’ve had enough of the endless gloom in today’s economic news:
record oil prices, slower home sales, deepening loan losses,
disappointing corporate earnings. What you’re really looking for at
this point are a few signs of hope.”

more…

by Kelly Evans and Justin Lahart of WSJ

“A funny thing happened to the economy on its way to recession: It’s taken a detour.

That, at least, is the view of a growing number of
economists — including some who not long ago were saying a recession
was all but inevitable. They note that stock and credit markets have
steadily improved since the Federal Reserve intervened to keep Bear
Stearns Cos. from bankruptcy in early March, while a series of economic
reports have been stronger than expected.”

more…

By Vanguard

“Even though the economy is clearly slowing down, the week’s economic reports emphasized the positive. They pointed to an expanding service sector, faster productivity growth, slower-than-expected increases in unit labor costs, strong consumer spending, and a narrowing U.S. trade deficit. For the week, the S&P 500 Index fell 1.8% to 1,388 (for a year-to-date total return of –4.8%). The yield of the 10-year U.S. Treasury note fell 8 basis points to 3.77%.”

more…

By Stephen Barr, Washington Post

“The federal hiring process is broken and needs a quick fix, two senators with a keen interest in government management said yesterday.

“We are in a crisis,” Sen. Daniel K. Akaka (D-Hawaii), chairman of the Senate subcommittee that oversees the federal workforce, said. “This is an emergency,” added Sen. George V. Voinovich (Ohio), the panel’s ranking Republican.”

more…