Standing onstage with Bill Clinton and Lance Armstrong at the opening session of the Clinton Global Initiative in the New York Sheraton this morning, Bloomberg appeared to hint strongly (as if his maneuverings to this point weren’t a strong enough indication) that he likes the idea of running again for mayor.

Armstrong, who was there to promote his cancer foundation and health issues, talked about his return to competitive racing after initially retiring.

Bloomberg, who spoke directly afterward, addressed himself to Armstrong and said, “I did like your comments about coming back and doing it again. But that is a whole nother issue.”

After Bloomberg spoke, Clinton commended the job he had done serving the city (and country, he said) as mayor and told the audience, "My guess is there's a lot more ahead.  read more »

Federal Reserve Chairman Ben Bernanke sounded understandably ominous when talking about the national economy today at a Fed retreat in Jackson Hole, Wyo.

According to The Times:

Inflation has accelerated to levels not seen for decades, even as the housing slump and weak job market take a toll on household spending.

Indeed, Mr. Bernanke opened his speech by describing the financial crisis as a “gale force” and said the nation faced “one of the most challenging economic and policy environments in memory.”

According to the Fed, sky-rocketing fuel costs and a shaky job market have not stopped Americans from spending. The April Commerce Report released in Washington today said U.S. consumers spent more than twice what economists had forecast, excluding car sales, Bloomberg reported.

A 0.2 percent overall drop in retail spending--led by the auto industry's 2.8 percent decline--in the first quarter of the year coupled with better-than-expected sales at discount chain Wal-Mart indicate that consumers are flocking to discount stores and holding out on purchases of big-ticket items.  read more »

For years and years a minority of savvy people would ask themselves, “Just how long can this go on?” The “this” was lending people money that they were not earning enough to repay. Now we know. Now the question is not how long can this go on but how come it went on so long.

Lending money to dubious risks is hardly something invented in the past 10 or 15 years. Until recently, however, the rule was that high risks paid high interest rates. The payday loan industry operates on that basis, as do the gangsters who lend to people gambling on sporting events.  read more »