QOTD: Felix on the already-default

Felix Salmon at Reuters: The harm done to the global financial system by a Treasury debt default would not be caused by cash losses to bond investors. If you needed that interest payment, you could always just sell your Treasury bill instead, for an amount extremely close to the total principal and interest due. Rather,…

Is Unprecedented Inequality the Reason the Economy Can’t Recover?

Business-minded people hear the word “inequality” and their reproductive organs crawl back up inside their bodies reflexively. The “I Word” smacks of socialism and it runs counter to everything we learn in free-market capitalism and private enterprise. The way it’s supposed to work is that the winners are separated from everyone else because of how…

This Week’s Estimize Earnings Calendar

via Leigh Drogen and the team at Estimize, a heads up on this week’s coming earnings: As we enter the first of the five heavy weeks of earnings season, there are a few interesting things to note. The large delta between the Wall Street and Estimize EPS consensus in Yahoo! (YHOO) has been highly correlated…