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

Fair Market Valuation; CBO, Student Loans, Food Stamps, Etc.

Earlier in 2013, CBO’s Douglas Elmendorf’s forecasted return on Student Loan’s resulting in a positive return for the Government. Later Elmendorf reversed the forecast claiming student loans would cost the government and the taxpayers by generating a negative return. Using one cost model (FCRA) to estimate the return, the government will make $184 billion on […]


by Dale Coberly THE CBO AND SOCIAL SECURITY HYSTERIA and HONEST MATH The Congressional Budget Office (CBO) recently released a new projection for the costs of Social Security  [no citation.  I looked up the link in the AEI article (below) and did not immediately find a projection for SS].   They say that increases in […]

TPP, Fast track, secret to you

Sorry for such thin postings lately but life happens. Hat tip to stormy for this reminder of a trade agreement not making the news. Use TPP in search to see other postings from Kenneth Thomas and Dan Becker: Via Truthout comes this item So far, the TPP has been drafted with an unprecedented degree of […]

James Galbraith, Neil Barofsky, and John Coffee Discuss Lessons from Lehman Meltdown

Via Naked Capitalism comes this video discussion  FIVE YEARS ON, LEARNING LEHMAN’S LESSONS FROM THE PANIC OF 2008- Panel Discussion in a panel discussion with James K. Galbraith (Economics Professor at the University of Texas), Neil Barofsky (former Inspector General for overseeing TARP), John Coffee (Law Professor at Columbia University). A link to the entire event, including Elizabeth […]

Krugman – Are we getting close enough to Full-employment?

Paul Krugman asked today… “Are we getting close enough to “full employment” that it’s time to let up on the gas? How much slack is there in the economy, really?” By letting up on the gas, he is referring to tapering by the Federal Reserve. Tapering would signal tightening as he ends his post with […]

Angry Bear among top Influential Economics Blogs…Onalytical Indexes

Thank you contributors and readers, it’s true. We are listed at 34th this time, even missing Robert Waldmann and Kenneth Thomas mentions in Paul Krugman’s  New York Times columns this month as rankings were determined in July. Onalytical Indexes publishes their  Top 200 Influential Economics Blogs – Aug 2013 by Andreea Moldovan It’s been several months since […]


Vis Brad Delong’s post on CORRECT PREDICTIONS AND THE STATUS OF ECONOMISTS Paul Krugman is certainly right that history has judged, and that the judgment of history is for James Tobin over Milton Friedman so completely that there is not even a smudge left where Friedman’s approach to a monetary theory of nominal income determination […]

Austerity sinks all boats

July 31 saw the latest release of European Union unemployment numbers, and Monday’s gross domestic product figures brought no joy, especially for Greece. As Think Progress reports, Greek unemployment hit a new record of 27.6 % in May, while Spain’s June unemployment figure was 26.3%, according to Eurostat. As the world’s biggest experiment in austerity, […]