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

Larger, greater than expected…Declines

by Divorced one like Bush US Initial jobless claims decline larger than expected in May 31 week (6/5/08) Mortgage finance giant suffers much larger-than-expected loss due to reserves for credit losses and slashes its dividend to preserve capital. (8/8/08) Factory orders decline more than expected in August (10/2/08) Retail sales for September posted its steepest […]

A Rare Economics Post from Me

Yes, I’m still distracted (and under deadlines), but this is too good to pass up. Greg Mankiw sends us to “Wisdom from Michael Kinsley.” Which turns out to be this: There is no need to encourage risk-taking entrepreneurship with special tax breaks. Risk takers will take risks, and if the risks work out they shouldn’t […]

And I thought I was a night person.

EDITED TO CLARIFY APPARENT CONFUSION: The evil* Aaron Shiff of 26econ.com [edited to clarify that he is not—to my knowledge, at least—the Aaron in Coventry] discovered Google Web History. Being a natural follower, I checked my own breakdown. It appears I do a lot of Google searching during the two hours the children are Not […]

PE on Trend EPS

By Spencer Yesterday Warren Buffett wrote about stocks now being a bargain. It lead me to look at a measure of valuation I have not calculated recently, the S&P 500 PE on trend EPS. We all know there are problems with the various measures of earnings used to calculate valuations and none of them are […]

Why is Obama Being Treated So Well by the Right?

by cactus Why is Obama being treated so well by the right wing? No, seriously. I mean it. Remember when Clinton was President and the right treated us to all sorts of stories about black helicopters, foreign military bases on US soil, and how Clinton was gonna turn us all over to the UN or […]

More on Presidential Administrations

Via Kathryn (who previously pointed us to a similar exercise for the U.S. election), Theo Gray expands on the work of Tommy McCall (as published in the NYT under the title “Bulls, Bears, Donkeys, and Elephants,” which was glibly dismissed by Greg Mankiw*). While his conclusion will be heartening to Brad DeLong: And one more […]

Industrial Production

By Spencer Industrial production fell 2.8%in September. But about 2 and a quarter percentage points of that was due to hurricanes. If you back the hurricane impact out, September output would be about where the X is on the chart. This implies that manufacturing output is continuing to demonstrate roughly the same type of declines […]