Several people have asked me in recent days whether I think Katrina will have any measurable economic impacts on the national US economy. In general, I think it’s hard for localized events such as a hurricane (or even a large terrorist attack) to have effects on the US economy as a whole, simply because the […]

Hi all – sorry for the extended hiatus, but I’m back now. Alas, the end of August brings with it the end of my summer travels, and the end of my otherwise slothful and dissolute summer schedule. (Well, at least I tried to keep August as slothful as one can with a two-year old and […]

Increases in the number living below the poverty line as real median income is flat. The Census report for 2004 can be found here.

Robert Hall discusses Separating the Business Cycle from Other Economic Fluctuations at the Federal Reserve Bank of Kansas City’s annual Jackson Hole conference. David Altig claims Hall explained it all. But what does Hall say about the most recent weakening of the labor market? For example, all practical accounts of the recession of 2001 emphasize […]

CNN is using the term tsunami. More on the effects of the hurricane can be found here, which advises residents to seek advice and information from local authorities through television and radio.

My thoughts are with the residents of New Orleans and the Gulf Coast tonight. This week two prominent economists predicted a housing bust and possible recession in ’06; three if you count Chairman Greenspan. Actually Greenspan’s comments, made at the Federal Reserve’s Jackson Hole Conference, were not predictions, but general observations. Quoting from Greenspan’s closing […]

Could the most sensible NRO “economics” piece of the week be from Jerry Bowyer? Or have I lowered my standards to say that something that is only half right is worth reading? Bowyer gets the data right – new housing sales are strong, which reflects the strong housing construction over the past several years. He […]

Mark Thoma reads Lawrence Kudlow we don’t have to. Mark rightfully suggests that Kudlow does not understand monetary policy. Kudlow, however, was more focused on the demand and supply for oil – another topic where he displays confusion: On the oil-price shock, I say at least two cheers for higher prices. Why? Because I believe […]

In an complete takedown of Donald Luskin, the Washington Times shows some real insights. Read what they have to say as it’s quite good. But then maybe I’m biased.

Thirty-five years ago, young patriots such as Lt. John Kerry vocally expressed the view that our brave soldiers should return home from Indochina immediately. President Nixon claimed that the majority of Americans disagreed but were “silent”. Today, the success of Camp Casey at attracting national attention to the Iraq War issue has driven certain right-wingers […]