The WSJ Real Time Economics blog has an interesting post. Here is a graph from it:
Archive for February 27th, 2009
Why bloggers are good for the country. Government in the last analysis is organised opinion. Where there is little or no public opinion, there is likely to be bad government, which sooner or later becomes autocratic government. William Lyon Mackenzie King
Two Fed Presidents have expressed conflicting views of the current activities of the Fed. The difference underscores the fact that there are members of the inner circle that fear the Fed has gone beyond its mandate and in the process jeopardized its independence. Charles Plosser, President of the Philadelphia Fed, is in the uncomfortable camp. [...]
Just two FDIC seizures this evening. Here are the links: Security Savings Bank, Henderson, Nevada Heritage Community Bank, Glenwood, Illinois There will be more to come.
From the WSJ Real Time Economics blog, here are some comments on the revision to fourth quarter GDP: The surprise was a bigger than anticipated downward revision to consumption. Based on the retail sales figures, we had expected a marginal downward adjustment, but the revision was substantial, to a disastrous -4.3% from -3.5%. According to [...]
The concept of nationalization has been tossed around pretty loosely over the past few weeks. Usually it’s been discussed in the context of some sort of scheme to take over some of the failing big banks and reconstitute them for eventual return to private ownership. Not even the left of center authors that I’ve read have [...]
I wonder sometimes if we would be better off without the Internet, CNBC and all the other instant news sources that pound the latest bad news into our conciousness almost as it happens. Maybe all of this was easier to cope with during the Depression when it came at people in less of a rush. [...]