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

It’s not just housing…but you knew that.

Tom’s post yesterday about British housing (following Felix), where the volume was down significantly with the average slightly up, seemed rather intuitive if you buy the argument that the majority of house prices haven’t been cut enough, and won’t sell until they cut more.* But, courtesy of our fellow Gloom-and-Doom maven, Barry Ritholtz at The […]

The Race is on?

Will post-autistic economics review (who have, sadly imnvho, renamed themselves “real-world economic review) or The Economists’ [sic] Voice be the first to publish Robert Waldmann’s paper (a readable version of this blog post, which now also links to the paper)? Only Brad DeLong may know for certain. But you should read it now.

Broken Clock Day

Yves Smith quotes Thomas Friedman accidentally telling the truth: Since President Bush came to office, our national savings have gone from 6 percent of gross domestic product to 1 percent, and consumer debt has climbed from $8 trillion to $14 trillion. Please explain this in the context of the “savings and investment boost” that was […]

The Price of Gas will soon be $1.50, right?

This will teach them, right? H.R. 6377 directs CFTC to use all its authority, including its emergency powers, immediately to curb the role of excessive speculation in the energy and swaps futures markets and take other corrective actions as necessary to eliminate any market disturbance that prevents energy markets from accurately reflecting the forces of […]

Speculation, Again

Rick Newman of Useless News and World Report busts some myths. And gets to the heart of the “speculators” issue: Many companies, for instance, want to lock in the price they’re going to pay down the road for petroleum products and other supplies they need to run their businesses. So they make agreements with suppliers […]

Advice from a Grand Master

Former Dallas Fed President Bob McTeer lists the “bad thinking habits” that cause people to make irrational economic decisions. It promises to be a series of posts. The first might be subtitled “Never Look a $10 tie in the local currency.”

Finance Quote of the Day

“This isn’t a matter of dissing Microsoft, but Intel information technology staff just found no compelling case for adopting Vista,” the person said. From here, h/t Felix.

Renegotiating NAFTA: It’s not just for the US any more

It’s no secret that I am no fan of NAFTA, which is to free trade what George W. Bush is to entrepreneurship. So when Barack Obama and Hillary Clinton were talking about changes needing to be made, I yawned. (save the rustbelt, by contrast, looked up and said, “Now they understand?”) Then changes they want […]