by Linda Beale Obama’s State of the Union Tax Proposals President Obama delivered his first State of the Union speech tonight, assuring us that we could jump-start job creation through tax cuts for businesses and gain needed relief for families through tax cuts for middle-class households. What Obama offers is, as usual, a mixed bag–too […]
Go read: If you’re only reading one post, see FT Alphaville, which incorporates and expands upon… Tom Adams and Yves Smith’s posting at Naked Capitalism discussing the document and the reality of the situtation. the document itself is available from either The Long Room or the Huffington Post. If the FRB of NY really believed […]
by Bruce Webb Geekery below the fold. Steve Jobs was a little hyperbolic in his language yesterday which led some people to laugh. Well there are reasons he is a self-made billionaire and you are not. The key to understanding why the iPad and similar devices can change the world it to understand that it […]
by Rebecca Wilder At least that is the way I read today’s monetary policy release. According to the statement released today: “The Bank of Japan will encourage the uncollateralized overnight call rate to remain at around 0.1 percent.” However, the statement curiously omits the following from item 6. of the previous release: The Policy Board […]
by Daniel J Becker (DOLB for the rest of you) UPDATED BELOW.Well, I thought being tonight is the big night for the President I would give my version of the SOU. This is an update on the flower shop. For any new readers, these are real numbers from an honest to goodness small business. As […]
UPDATE: datacharmer at Bluematter thinks visually. Bruce, yesterday: Unless you have had the experience of using an advanced smartphone it is hard to explain how transforming it is to have the Internet in your pocket, if I have a question about anything it is mostly as close as my left pocket. But like the iPhone […]
CBO: At 9.2 percent of gross domestic product (GDP), that deficit would be slightly smaller than the shortfall of 9.9 percent of GDP ($1.4 trillion) posted in 2009. [emphasis mine] A 7.1% decline in real GDP terms isn’t just “slightly smaller”; it’s a real improvement that is greater than any (mythical or not) “spending freeze” […]
by ilsm The US deficit, and its related total debt, are awesome worries. Military outlays need to be reviewed, by qualified analysts who have not bought into the climate of continuing to clothe the emperor in nothing. Those outlays that are not “worth the expenditure of scarce taxpayer resources” in the military program need to […]
Bruce Bartlett: The Fed has talked openly about new procedures to soak up the bank reserves it has created even as those reserves remain largely idle and unlent. You don’t get inflation if there is no money multiplier in play. So long as the banks are just holding the cash, worries about monetary policy leading […]