Joseph Stiglitz : Of the 1%, by the 1%, for the 1%

Joseph Stiglitz : "Americans have been watching protests against oppressive regimes that concentrate massive wealth in the hands of an elite few. Yet in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret." Joseph Stiglitz wrote in an article in Vanity Fair , what's interesting is the timing of the piece, as the issue of Obama's complete incompetence on economic matters has driven his approval numbers to the lowest levels which could be a sign that Obama may not be re-elected for a second term

El-Erian on The Market Reaction to the Jobs Report

The Market Reaction to Jobs Report was Muted , The jobs report was good, but we need better data than we are getting right now, says Mohamed El-Erian Pimco CEO, co-CIO: "it's interesting to see the market reaction. the numbers are good not only in terms of overall numbers but in terms of hours and the action is very muted and i think the three underlying that we are benefiting from household savings and it's not clear how long that is going to continue. two, Europe. things are getting worse in Europe. David earlier spoke about it Spanish deficit. we have factory numbers out of Germany today. and then there is general deleveraging. we continue to see the demand curve for European securities in particular shift inward. so it's not enough to get a good number. we need a really good number and we didn't get that today." Mohamed El-Erian said

I do not really see any Deflation in the system at the present time

Marc Faber : Yes, ... because they focus say on one sector of the economy, which is the housing market or so, or they focus on the debt deflation that we have at the present time to some extent because the household sector has been reducing its debt on credit cards, and we have also some de-leveraging in other sectors of the economy. But that is offset by the government fiscal deficit and at the same time also by monetization on a massive scale. So I do not really see any deflation in the system at the present time. - in FSN