by reader Noni Mausa Title: Going into Shock Subhead: Some economic metaphors seem more appropriate than “tighten your belt.” Explaining economic realities and their likely solutions can be made a lot easier with the judicial use of well-understood metaphors. Unfortunately, these tools can be also Used for Evil, or at least Confusion. In times of […]
rdan Run 75441 comments on the WTO and US stimulus spending (lifted from comments): Lori Wallach, Director of Public Citizens Global Trade Watch did a recent (March 12, 2009) report to the subcommittee on Terrorism, Nonproliferation, and Trade, “US Foreign Economic Policy in the Global Crisis.” Briefly this is what she is saying about banking […]
rdan Dean says: Why Is “Buy America” Okay for Banks, but Not Steel? Those damn protectionists in the Obama administration obviously don’t know anything about economics. How else can we explain the decision to require that the fund managers in their bank bailout plan must be headquartered in the United States. I can’t wait to […]
rdan Fresh Air and Terry Gross carried an interview with Frank Partnoy, a former trader and author of the 1997 book FIASCO: Blood in the Water on Wall Street, provides an interesting perspective and history.
rdan Seeking Alpha has Felix Salmon, James Kwak, Brad Delong, and Mark Thoma in conversation on the Recovery Plan. Follow the link.
rdan Ezra Klein says: …So the Geithner plan is really two bets in one. The first is that this is not the worst case scenario and does not require the fixes developed for the worst case scenario. The second is that if this turns out to be the worst case scenario, then we still have […]
rdan (Links provided by MG) Treasury Department Releases Details on Public Private Partnership Investment Program The Role of the Federal Reserve in Preserving Financial and Monetary Stability: Joint Statement by the Department of the Treasury and the Federal Reserve TREASURY DEPARTMENT PUBLIC ENGAGEMENTS SCHEDULE FOR THE WEEK OF MARCH 23 � MARCH 29
rdan Dean Baker says: Wall Street and the Economy Suppose Timothy Geithner announced a new program that would tax every family $10,000 dollars and give the money to Wall Street banks and hedge funds. (Any resemblance between this hypothetical program and real world programs is purely coincidental.) We would expect the stock of Wall Street […]
rdan Daniel Kurtzman The posing and posturing hopefully will produce a partially reasonable plan for the overall benefit of US citizens. There will always be winners and losers, but let us hope the re-distribution of wealth does not continue to be mostly up the ladder. Update: Dean Baker has a take on this notion.
rdan (Hat tip noni mausa) Credit to XKCD comics