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

Quote of the Day, Economic Recovery Edition

Floyd Norris cites John C. Dugan, the man whose agency was charged with regulating AIG Financial Products in the NYT: [T]hey believe that the banking system on its own is unlikely to have the ability to provide enough credit to sustain an economic recovery in the United States. Gosh, really? Norris quotes Dugan: “We need […]

What You Measure is What You Try to Manage, FRB edition

For those who were thrilled by the positive general prospects in Rebecca’s post, the WSJ presents words to die/foreclose by: If that seems at odds with the economy’s recent strength, keep in mind that the unemployment rate is usually one of the last places recovery shows up. Many of us are having trouble forgetting that, […]

I Blame This on the NHL

With all the talk of “Detroit,” you would think that Michigan would have lost the most employees, as a percentage of same, on the year. After all, the scariest graph of the U.S. MSAs isn’t scary for nothing. But the Regional and State Employment data is out for October (h/t CR), and there’s a different […]


By Spencer (2009)   The issue of a jobless recovery is getting a lot of attention recently. I’ve found the best way to look at the issue is to compare the change in real growth and productivity over the long run. There have been three periods of different productivity trends in modern US economic history. […]

The Plural of Datum is Foreboding

Via Dr. Black, CR describes Washington, D.C. real estate as “the commercial version of the subprime situation.” Two points: CR knows better, most of the time, than to believe that there was a “subprime situation” in any sense other than “We Are All Subprime Now.” [edited for tone] Possibly more importantly, Washington, D.C., is one […]