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Paul Solman: Conservative economist Ed Yardeni, whom I cited earlier this week, wrote Thursday morning about an issue that we address on the NewsHour soon: the continued credit crunch unavailability of bank loans in our supposedly recovering economy.Our story is one we stumbled on in Springfield, Missouri, recently while profiling the remarkable Rust Belt success story, SRC Springfield Remanufacturing , in a piece we referr
stanley cup ed to as Small Enough to Succeed. Despite its accomplishments, it turned out that SRC and its corporate progeny couldn ;t get bank loans unless they had the equivalent amount of money already on deposit at the bank. Talk about getting a loan only if you don ;t need one!Yardeni mentioned alarmist Ambrose Evans-Pritchard in the London Telegraph and an article published yesterday: US money supply plunges at 1930s pace as Obama eyes fresh stimulus. Evans-Pritchard is a very smart and influential fellow whose articles tend to focus on the Dark Side. His latest is particularly bleak 8230;. He writes that M3 [the broadest measure of the U.S. money supply] plunged 9.6 percent from $14.2tn to $13.9tn in the three months ending in April 8230;He quotes Professor Tim Congdon from Inte
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stanley cup onetary Research, who must be the source of the data, as follows: It frightening. The plunge in M3 has no precedent since the Great Depression. The dominant reason for this is that regul Xutl The Fed s Latest Move: Monetary Debauchery
PYONGYANG, North Korea 鈥?In an implicit challenge to President Donald Trump, North Korea appeared to fire a ballistic missile early Sunday in what would be its first such test of the year.After receiving word of the launch, Trump stood at his south Florida estate with Japanese Prime Minister Shinzo Abe, who called the move intolerable.There was no immediate confi
stanley cup rmation on the launch from the North, which had warned recently that it was ready to test its first intercontinental ballistic missile. The U.S. Strategic Command, however, said it detected and tracked what it assessed to be a medium- or intermediate-range missile.North Korean media are often slow to announce such launches, if they announce them at all. As of Sunday evening, there had been no official announcement and most North Koreans went about their day with no inkling that the launch was major internatio
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airmax e reports of the launch came as Trump was hosting Abe and just days before the North is to mark the birthday of leader Kim Jong Un late father, Kim Jong Il.Appearing with Trump at a news conference at Trump estate, Abe condemned the missile launch as absolutely intolerable.Abe read a brief statement in which he called on the North to comply fully with relevant U.N. Security Council resolutions. He said Trump had assured him of U.S. support and that Trump presence showed the president determination and commitment.Trump followed Abe with even few
