As the exceptionally well-informed readers of this little blog know, the Fed has signaled that once the unemployment rate reaches 6.5% it will declare “Mission Accomplished” and begin to unwind it’s various monetary stimulus programs. As this little snippet from the WSJ blog points out, getting to that magic number doesn’t necessarily mean that everything [...]
Detroit fiddled until the fire was burning down the entire edifice.
There is no manufacturing renaissance. The sector has been doing just fine for decades.
The President released his budget today and the usual suspects are lining up to either hail or damn it. Predictably political affiliation pretty much determines reaction though the President is getting perhaps a bit more blowback from his left flank than he might have expected. Here are two analyses which I suspect will more or [...]
By now you’ve not only digested the BLS jobs data this morning but been subjected to any number of analyses of the numbers. If you still have some unfilled void for further soothsaying then here is a roundup of the musings of a selection of economists presented by the WSJ. Personally, I found that this [...]
John Cochrane plays around with some of the CBO projections and comes up with this graph which represents the long-term outlook based on their numbers. Sort of OK for the next say seven or eight years and then things get really ugly. Cochrane properly asks, “So what can adjust?”, as the scenario represented by the [...]
There is a bit of a cat fight going on between Paul Krugman and Tyler Cowen over the propensity of companies not to spend their considerable cash balances. Basically Krugman says it’s retarding the recovery while Cowen says that’s nonsense given that the companies invest their cash balances in vehicles from which it can be [...]
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