| Shiller comparing current situation to Great... |
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... Depression prelude!
1/29/2008
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Housing Bust Recovery in 1930s
http://www.youtube.com/watch?v=KlkOPAa4Mao
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http://www.ft.com/cms/s/0/3a6ad6d0-d014-11dc-
9309-0000779fd2ac.html
US consumers in cautious mood
By James Politi in Washington
Published: January 31 2008 16:12 | Last
updated: January 31 2008 16:12
The sharp slowdown in the US economy was
highlighted on Thursday as fresh data showed
that consumer spending rose a meagre 0.2 per
cent in December and jobless claims moved
unexpectedly higher last week.
The data on consumer spending from the
commerce department, though slightly above
expectations, was the weakest since September
2006, and contrasted with a 1.1 per cent gain
in November. It confirmed that even as
retailers tried to attract customers with
heavy discounts during the holiday season, US
consumers spent cautiously.
Personal income rose 0.5 per cent in
December, also slightly above expectations.
The personal consumption expenditure price
index, excluding food and energy, rose 2.2
per cent, providing evidence that inflation
could remain a concern for US policymakers.
Recession fears came sharply into focus this
week after it emerged that the US economy
grew by 0.6 per cent in the fourth quarter.
The Federal Reserve on Wednesday cut interest
rates by 50 basis points - on top of its 75
basis point emergency easing of monetary
policy last week -- in an effort to tackle
the slowdown.
Among economic indicators, one relatively
bright spot recently was the weekly jobless
claims data. But on Thursday, it emerged that
the number of workers who filed for
unemployment benefits last week rose sharply,
by 71,000 jobs, to 375,000, or the most since
Hurricane Katrina hit in September 2005.
"After a series of low-side readings this
increase clearly raises fresh questions about
the health of the labour market," said
JPMorgan's economics research team. On
Friday, the US government will release its
monthly jobs report, which could provide
economists with a better reading of
employment trends.
___________________________________
Housing Meltdown
Why home prices could drop 25% more on
average before the market finally hits bottom
http://www.businessweek.com/magazine/content/
08_06/b4070040767516.htm
___________________________________
Tags : FED Ben Bernanke Shiller |
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Affichage : 34745
Durée : 459 s |
| Yaz - Situation (Single Remix) |
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Yazoo (known as Yaz in the U.S.) was a
short-lived but highly successful English
synthpop duo from Basildon, Essex that had a
number of top ten hits in the British charts
in the early 1980s.
Heavily influenced by earlier bands like
Kraftwerk, Yazoo expanded upon the synthpop
formula by juxtaposing Alison Moyet's vocals
with Vince Clarke's electronic hooks. Its
sound referenced disco but added a more
disaffected attitude that disco lacked. Their
second album saw greater songwriting input
from Moyet, adding a rather more mature and
soulful flavour, particularly on the hit
single "Nobody's Diary."
The group was formed in 1981, using a moniker
that Alison Moyet, veteran of a number of
southeast Essex based punk and rock bands,
had seen on the labels of old blues albums:
Yazoo Records, although Clarke later
confessed that this came from mis-hearing the
name of the mouth instrument Kazoo which was
popular in the late 1970s. Clarke had been
the main songwriter in Depeche Mode, who at
that point had recorded one album and three
singles for Mute Records, including the hits
"New Life" and "Just Can't Get Enough".
Clarke surprised many by quitting Depeche
Mode just as they were beginning to reap
success, claiming that they "just weren't
getting on, really", forming Yazoo with the
then relatively unknown Moyet. Mute Records
continued to release the output of this new
Clarke project. The band was licensed to Sire
Records in the United States.
Its debut single "Only You" backed with
"Situation," was released in April 1982 and
rose to number two in the UK. Clarke had
offered the song as a parting gift to his
former bandmates in Depeche Mode, but they
declined. Yazoo quickly scored another hit
with the next single, "Don't Go," which hit
number three, and became popular on MTV in
the United States thanks to a
Frankenstein-themed video. They continued
their successful streak with their first
album, Upstairs at Eric's, which went
platinum in Britain. The band received
favourable reviews for their pioneering
sound. Clarke and Moyet toured briefly, while
releasing a stopgap single, "The Other Side
of Love."
The duo's second and last album, You and Me
Both, yielded more success, hitting the top
of the UK charts, and spinning off one
single. The album's success was tainted by
Clarke and Moyet announcing they were to go
their separate ways shortly before its
release.
Moyet decided to venture off on a solo
career, signing to Columbia Records, where
she would enjoy a great deal of early
success. Vince Clarke recorded a single with
producer Eric Radcliffe (the same "Eric" from
the title of Yazoo's debut album) and
Undertones singer Feargal Sharkey as The
Assembly, and another with vocalist Paul
Quinn. Around this time, Clarke also co-wrote
"The Face of Dorian Gray" for his friend and
singer Robert Marlow. Clarke then founded the
highly successful pop group Erasure with
vocalist Andy Bell.
Mute Records released a remixed version of
"Situation" as a single in 1990 to moderate
success. In 1999, a compilation was released,
entitled Only Yazoo - The Best of and was
preceded by a re-release of Yazoo's debut
single, "Only You", featuring a new remix of
the title track and several more of "Don't
Go". The band's output was bookended with yet
another release of "Situation", accompanied
by many remixes
Tags : Yaz Situation Single Remix Electronic Synth |
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Affichage : 67165
Durée : 153 s |
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