David Streitfeld Knows Better than This
The NYT moves deeply into delusion: The rolling real estate crash that ravaged Florida and the Southwest is delivering a new wave of distress to communities once thought to be immune— economically...
View ArticleFeeling Hopeful About the Recovery
Crossposted at The Street Light. The more I get to know this recovery, the more I’m starting to like it. Yes, it’s been rather standoffish, giving the cold shoulder to millions of unemployed Americans....
View ArticleThought-Experiment of the Day
It’s no secret I’m not a fan of the birth-death adjustment to the employment serieses: not from a necessary belief that they’re biased, but rather because they give the lie to the illusion of accurate...
View ArticleThe Future of the Fed
Spent the morning at this event: presentations and discussion by Joe Stiglitz, Yves Smith, Mike Konczal, Joe Gagnon, Matt Yglesias, Tom Palley, and many others. Mike K. tole me he expects that video...
View ArticleMonetary Policy. I’m not only not feeling it, I’m dehydrating because of it.
by Daniel Becker Continuing my prior post suggesting that what ever monetary policy has done, it has not reached that vast majority nor has it addressed what is the main issue, I viewed this chart by...
View ArticleSpot Effing On, as The Mainstreamers Edge Leftward
We have just printed the eleventh (11th) straight week in which new jobless claims have exceeded 400,000 people. As Krugman notes, “The Fed predicts disastrously high unemployment as far as the eye can...
View ArticleThe Monetary Policy Debates
This article by David Leonhardt in the New York Times is getting a lot of attention. Leonhardt argues that there is an active debate in the economics profession between inflation hawks, moderates and...
View ArticleSheer Idiocy, European (and American) Style
It’s rare to see theft described so directly: Proposals made in July by the Basel Committee on Banking Supervision should be redrafted to allow banks to use so-called contingent capital to meet the...
View ArticleA Brain-Dead "Financial Reporter" at NPR Defines the Problem
Via Doctor Black, who printed the answer but not the question: PIGNAL: This is actually the second bailout for Dexia. In 2008, it had to be bailed out after exceptionally imprudent investing, including...
View ArticleThe Flaw in the Reasoning…
Brad DeLong (pulled from an otherwise-spot-on post): Two years ago, after all, the recession was over. The Recovery: I started these from the first month after NBER’s recession end date. Note that...
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