rdan The Detroit Free Press carries this statement: “The UAW is deeply disappointed that Senate Republicans have blocked the bipartisan legislation that was agreed to by President Bush and congressional Democrats. “In an effort to work out a compromise, the UAW was prepared to agree that any restructuring plan should ensure that the wages and […]
rdan hat tip vtcodger, who adds “All the focus on cars is on the Big Three whose CEOs will lay out their begging mats in Washington today. But imports aren’t doing so great either.” But these are not ordinary times. (NYT) For now, the port itself is the destination. Unwelcome by dealers and buyers, thousands […]
A research review by: Divorced one like Bush Introduction: This review was initiated after reading the report linked at the 25 indicators post. A review of the data regarding accepted economic performance indicators for business cycle peaks of year 2000 and 2008 is presented along with a discussion of the relevance to the strategy of […]
by Robert Waldmann My post on “what the hell are credit default swaps for” got lots of comments and I learned a lot from the comment thread. I continue my effort at remedial education via blogging. First a very simple article by Martin HutchisonDoes this guy know what he is writing about ? Key quote […]
Soc Sec XXXVI: $17 Trillion Backward Transfer was a response to a comment by Jim Glass (scrivener.net) to a post by Andrew Biggs. Andrew responded with a new post attempting to rebut my argument. You can see the whole thing at Responding to Angry Bear: Where does $17 trillion come from including my response to […]
Infrastructure – The Next Big Deal? #1 Reuters carries a report on an infrastrucutre concern: The worst Midwest flooding since 1993 has generated images of swamped towns, cracked roads, washed-out bridges, overwhelmed dams, failed levees, broken sewage systems, stunted crops and water-logged refugees. The losses are in the billions of dollars and still mounting, as […]
We are in real trouble. Easy credit from foreign central banks is reaching its limit. Easy credit inside the U.S. is already a fantasy. The dollar is in crisis. Debt is rapidly becoming the name of the game, at least for us. As the dollar falls, in real terms, prices and unemployment are rising. Wages […]
If you look at the data on traffic deaths it is obvious that we are doing something right in the US.As far back as the data goes traffic deaths have been falling at a -3.2% annual rate. But if your source of information was economics you would be hard pressed to know this. It has […]
The NBER committee that officially determines the dates for recessions has a few favorite, or key indicators that it gives much more weight. One of the indicators is real manufacturing and trade sales. Not many people pay much attention to it because it does not have its own press release and wall street traders do […]
Kash suggests that Greg Mankiw was not careful in his beer drinking example: The first and second men (the poorest) used to pay $0.20. Now they pay only $0.15 (a savings of $0.05, or 23%). They must then pay an additional $0.16 somewhere down the road. The third and fourth men (the next poorest) used […]