Sublime

subprime loans like the 2/28 accounted for almost 20 percent of all mortgages. (The percentage in poorer neighborhoods, such as the Bronx, was much higher, with more than 60 percent of all mortgages falling into the subprime category.)

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Some highlights have been hidden or truncated due to export limits.

Now, there are bullish voices telling us that things are headed back to normal. Mainstream forecasts for GDP growth this year (2010) are quite robust, north of 4 percent for the year, based on evidence from past recoveries. However, the underlying fundamentals of a banking crisis are far different from those of a typical business-cycle recession, a

Overall, I continue to view the US economy as being of two speeds. Demographic segments and industries that are on the receiving side of the large deficits are generally doing well. On the other hand, segments and industries that are more affected by the Fed’s tight monetary policy (such as housing and commercial real estate and younger or lower-in

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