The right is having a lot of fun commenting about the economic forecast by the Obama team being too optimistic. I guess they are right, Obama along with everyone else has massively underestimated the damage Team Bush did to our economy.

by Bruce Webb I haven’t gone through the text or the numbers, make of this what you will. But at least we can start with some actual numbers attached.McClatchy: Kennedy-Dodd unveil cheaper health care bill Bill Text: SHORTTITLE.—This Act may be cited as the ‘‘Affordable Health Choices Act” CBO ScoreExcerpts and updates may be added […]

rdan Money Central presents a dilemma for shareholders in goods and services: The old notion that profitable companies with good growth prospects should have rising share prices — and that failures like GM should be gone, or at least trading in the pennies — is history. Today, a hedge fund investing billions using a quantitative […]

rdan Seeking Alpha notes a Supreme Court ruling on federal pre-emption of state regulation of banks. Google on Angry Bear OCC for posts on the issue. In a surprising 5-4 vote, the Supreme Court ruled that national banks are still subject to the laws of the states they operate in. What made the ruling unusual […]

After my previous posts on Georgia, it seems only fair to note the bank closings in Illinois today. There have been 13 bank closings posted (as of right now, about 6:50pm) in the state of Illinois since last March. That alone is significant—but, even more interesting, six of them occurred today. This exceeds the previous […]

John Quiggin makes the broad case (link fixed). If you are then stuck with trying to present a Grand Unified Field Theory, you will inevitably lose (or, at best, reduce) the importance of all the agglomerations that follow from the presumption that the Rational Actor is the mean performer—ignoring that no one, including the economists […]

by Divorced one like Bush So, American’s put an intellectual in the president’s seat. It’s been called pragmatism. We cheer the return of science and thus critical thinking to our politics. Yet, here we are at the cusp of the next great societal character development issue since we figured out after the depression there was […]

By Spencer The June employment report sent a clear message to expect more of the same. It showed essentially no signs of improvement as payroll employment fell -467,000 and the unemployment rate rose to 9.5% The average work week — considered a leading indicator of employment growth — dropped to 33.0 hours and the index […]