Mood around the economic water cooler is sour

Americans still sour on the economy
American consumers still lack confidence in economy as Conference Board reports the largest decline since October 2011. But in a potential sign, the housing prices increased.ary policy.

European economic situation continues to sour
There are fewer mixed signals coming from Europe, where all signs point to a second recession as regional central banks near crucial decisions on monetary policy. In fact, European Central Bank president Mario Draghi claimed he was backing out of attending the Federal Reserve’s conference in Wyoming because of a heavy workload in the coming days.

US debt crisis is a sour taste in the mouths of both parties
As a debate continues between economic analsysts about whether the economy is headed toward another recession or is slowly gaining sustainable traction, an equally vibrant debate is occurring over solutions to the nation’s growing debt. And both parties insist they have the answer. Mark Trunbull of the christian Science Monitor looks at whether the debt is a problem that can be solved without some manner of bipartisan consensus.

In a speech on Tuesday, Dallas Fed President Richard Fisher reasserted his contention that solutions to the growing debt crisis will not come from the Federal Reserve, but from Congress.

“The solutions to our problems do not lie in the monetary sphere,” he said. “The solutions lie in getting our fiscal house in order….Otherwise, we are just running the presses,” he said.

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