rdan Here is an interactive picture/graph of consumer spending total and per capita in dollars comparing countries to each other in relation to electronics, recreation, and other major categories. Nothing new, but a great way to teach and see the relationships.

by reader coberly From a front page above the fold article in the Portland Oregonian, by Glenn Kessler of Washington Post, “explaining” the financial crisis, what to expect, and giving advice to readers: “The increased debt load of the U.S. government will make it more difficult to finance the Social Security deficits that will emerge […]

by cactus Hilzoy notices what everyone is worried about…— I hope Hilzoy doesn’t mind if I steal her post in its entirety, but the last line is too good to pass up. And Speaking Of Incoherent Policy…No sooner did I finish my last post than I found this from Politico: “As part of a plan […]

Right now, Hank Paulson has two choices. or Right now, he claims to be pushing toward the second, but isn’t getting out of the cab.

Tax Prof Blog notes the following about Gov. Palin’s tax returns: Tax Profs Agree: Gov. Palin’s Tax Returns Are Wrong Jack Bogdanski (Lewis & Clark) & Bryan Camp (Texas Tech) have independently reviewed the tax issues raised by the release of Gov. Palin’s 2006 and 2007 tax returns and financial disclosure form, as well as […]

rdan From the Toledo Blade: It was an overlooked bombshell in breaking news cycles preoccupied with financial crisis, rescue plans, presidential politics, and a vice-presidential debate. But what the Justice Department’s exhaustive investigation and blistering report concluded about the enormous damage done to the department through improper politicization is far more troubling than even Sarah […]

Robert Waldmann had a post entitled “How did Lehman manage That?” asking how Lehman’s debt could sell for about ten cents on the dollar. A commenter told me I was confused and that Lehman’s accountants would have warned investors if there was anything, along the line of the things I imagined, lurking in their detailed […]

One Salent Oversight notes:—————–Summary:—————–Low savings rates are the main cause of the current crisis. Moreover,the previous recession caused by the tech boom was also a result of afailure to save. The US economy (and others) have discouraged savings,which has resulted in an overinvestment in high risk ventures (such asasset price bubbles). Had savings rates been […]

rdan(h/t reader Jack) The NYT reports: Not only have individual financial institutions become less vulnerable to shocks from underlying risk factors, but also the financial system as a whole has become more resilient.” — Alan GreenspanMultimedia Punit Paranjpe/ReutersA LINGERING GLOBAL INFLUENCE An interview with Alan Greenspan, nicknamed the Oracle, was shown live outside the Bombay […]