Baseline Scenario links to Simon Johnson’s thoughts on current practice of politics. Well worth the time to read and comment. Delusions Of Fiscal Grandeur by Simon Johnson If you honestly believe that investors will happily buy up any amount of US government debt (at low interest rates) for the indefinite future, then relax. The tax […]
by Tom aka Rusty Economics and Corruption Detroit and the Detroit metro area are a pathetic, decaying mess. The reasons are many, ranging from the decline of the Big 3 auto companies to rampant corruption. For almost 40 years corruption has been well known and wide spread. In recent years, the administration of former Mayor […]
Sorry for the odd behavior of comments today. The Wed. report for instance says 13 comments but I can access only five. Igor, the head engineer, says there were several different kinds of problems, and maintenance and upgrade to servers. Apologies.
The Washingtington Post notes: The World Trade Organization has upheld the stiff duties that President Obama imposed on car tires imported from China last year, an important victory released on the eve of trade talks between the two countries. A panel at the Geneva-based trade group on Monday said it agreed that the United States […]
Commentary: Subprime Thinking from Wednesday morningre-posted with permission from the author When I started this blog in January 2005, one of my goals was to alert people to the housing bubble, and to discuss the possible consequences of the then approaching housing bust. Residential investment has historical been one of the best leading indicators for […]
The NYT reports on the Financial Crisis Inquiry Commission. “The Republican members of the commission appointed by Congress to investigate the causes of the financial crisis plan to release on Wednesday a document that assigns government housing policies substantial blame for the origins of the 2008 financial crisis. “ Update from MG: Here is the […]
Arnold Kling is taking up the case that less government is better than more government. Since I have been banned at his site I will respond here. From 1850 to 1950 US trend per capita real GDP growth was 1.4%. Since 1950 US trend per capita real GDP growth has been 2.1%. From 1850 to […]
One thing there is almost universal agreement on is that the US economy has very large excess capacity and that capacity constraints are unlikely to be a significant factor for the foreseeable future. But is it. In November capacity utilization in manufacturing rose to 75.2%. But this does not mean that the manufacturing sector has […]
In honor of his finally being inducted into the Rock and Roll Hall of Fame: And his co-inductee, who now does wait for no one:
Time to lighten-up, even if some of the most recent news is better. And I could not find one of my all time favorites that the economy is so bad that the mob in Rhode Island had to lay-off six judges.