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

Huffington Post Editorial Standards

Robert Waldmann The Federal Reserve, through its extensive network of consultants, visiting scholars, alumni and staff economists, so thoroughly dominates the field of economics that real criticism of the central bank has become a career liability for members of the profession, an investigation by the Huffington Post has found. [skip] at the Journal of Monetary […]

In Partial Defence of Joe Wilson (R-Crazy)

Robert Waldmann OK not really. Really I’m semi disagreeing with Steve Benen’s denunciation of Rep[rehensible] Wilson. The guy who shouted “you lie” when Obama said something true. He does seem to be a very special piece of work, but the consensus reality which he rejects is rather distorted on one particular topic — US arms […]

Australia…escaped a total meltdown, but still far from healthy

by Rebecca Australia is another on the short list of countries that “escaped recession” (another is Poland, which I wrote about earlier). As much of the developed world struggles with job loss and weak economic groundwork, Australia managed to push through the global meltdown with just one quarter of negative growth, -2.8% annualized growth in […]

Trade deficit

rdan Calculated Risk reminds us: …U.S. trade deficit, with and without petroleum, through July. The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products. Import oil prices increased to $62.48 in July – up about 50% from the prices in […]

Reader patience

rdan Echo engineers for js-kit, our comments company, and I have revised our link to transfer Haloscan comments to Echo, and re-designed our link to Echo directly, so I can then manipulate the html to produce a comment section to our satisfaction. This includes re-writing parts of the template. The trouble with the comments in […]

Worst Tax Ever Update

Robert Waldmann is going to obsess about one sentence in Obama’s vital health care speech “Likewise, businesses will be required to either offer their workers health care, or chip in to help cover the cost of their workers.” This doesn’t say anything new, but it worries me. The problem is that it sounds vaguely like […]

Keeping it simpler…at what cost for what services for what security for health care?

rdan My Cobra payment comes to $1,654.44 per month for a premium health insurance plan that includes medication benefits and somewhat low deductibles ($25 Dr. visit and $75 emergency room visit). This is for a consortium of towns and is not for tiny business groups which MA also has, so it is not an individual […]

Laying people off gets us ?…another lesson from cactus.

by cactus A friend of mine – I’m gonna call him Gilbert – was telling me about some happenings at his office that might sound familiar, as I’ve heard quite a few variations on this theme recently. Gilbert is a middle manager at a Fortune 500 multinational, which, like many companies large and small, had […]