Relevant and even prescient commentary on news, politics and the economy.

Advice without consequences

Barry Ritholz offers this observation: One of my biggest complaints about the media is the lack of accountability. People say things on TV in print an on radio, and then . . .  Poof!  No consequences. They influence public perception of issues, affect policy debates, drive legislation. This is a perfect example of a stern […]

Local success, local failure

From Equitable Growth with Brad DeLong: This means a roughly $60 billion direct federal transfer away from Red States over the next two years, and roughly $200 billion in lower economic activity in Red States–call it a negative of 4%-point-years of GDP, and of 2%-point-years of excess Red State unemployment. Interesting times…

Krugman and Waldmann (wonkish) part two

Lifted from Robert’s Stochastic Thoughts New Keynesian Good Two Keynesian Better Oddly, Paul Krugman seems to have perceived my observation that he is a two Keynesian rather than a new Keynesian as a criticism. In fact I much prefer simplest new Keynesian models to standard obscure new Keynesian models. Oh hell, my damn comment was waaay too […]

Wall Street executive compensation

Robert Schiller began a look at executive compensation: Last Wednesday, we presented our findings, “The Squam Lake Report: Fixing the Financial System” (Princeton University Press). Ben S. Bernanke, the chairman of theFederal Reserve, helped introduce the book at a conference at Columbia University. He said he agreed with the principle that “the stakeholders in financial firms — including […]

TPP summary

Via Alternet Jim Hightower offers a simplified look at the possible consequences of this trade deal: Twenty years later, the gang that gave us NAFTA is back with the TPP, a “trade deal” that mostly does not deal with trade. Of the 29 chapters in this document, only five cover traditional trade matters! The other […]