This is actually good news, since everything else the Fed has done has been to benefit the insolvent large banks. Still, I didn’t expect my post of three days ago to be such a perfect “negative indicator” so soon.
I have (vainly, I suspect, in both senses of the phrase), tried to start a meme on Twitter, #ifTimGeithnerrantheEmergencyRoom. “The defibrillator would only charge to 30 to prevent scarring; anything more and you’re on your own” probably isn’t winning friends or influencing people, but it does make me feel better. It also makes me look […]
by cactus Last week I wrote a post about some nonsense Glen Beck was peddling, with said nonsense originating with Thomas Woods. Woods claimed a smorgasbord of things, the dollar meal version being: 1. lefties talk up how the New Deal (big gubmint, tax hikes) saved the economy from the Great Depression but it didn’t […]
We are now almost 24 months into the Great Recession. While many expect NBER will eventually say that The Great Recession ended several months ago, they have not yet. By contrast, the recession that began The Great Depression, per NBER, lasted 43 months. It seems only fair to compare the two, so I trust I […]
(Data via Yahoo! Finance)
by divorced one like Bush Come on, step right up, don’t be afraid. Lay that money down. 3 and 1/8 economist out of 4 say the dastardly deed is done or ending by next month. After months of uncertainty, economists are finally seeing a break in the clouds. Forecasts were revised upward for every period, […]
Gary Farber (so far only via Facebook) (UPDATE: Now here) finds a reprint from the 8 March 1933 issue of The Nation: At the risk of gilding the tinsel, let the record be set down finally as The Nation takes leave this week of the “only party fit to rule.” American memories are short. Four […]
I spent most of the evening reading Underbelly posts, so this link is probably due to Buce: On Oct. 22, 1986, President Reagan signed into law the Tax Reform Act of 1986, one of the most far-reaching reforms of the United States tax system since the adoption of the income tax. The top tax rate […]