Archive for December, 2009

Given that it appears unlikely the administration will do much to reduce the power and influence of our biggest banks I have become a big advocate of direct people’s action against them. Move your business elsewhere. That includes your credit cards everyone! This effort to change the banks by taking away our business is about… »

Ho hum.
One of the great mysteries of recent times, OK I am guilty of a little hyperbole, is that the financial media gets itself into such a lather over home prices. Actually we all do. We cheer each uptick in home prices as confirmation of boom times and our unbelievably sensible decision to buy this… »

Reading through what little economic news there is this week leaves room for pondering two frequently asked questions: what happens when the effects of the stimulus wear off? and: When is the peak impact anyway?
Well now, as ever in economics, that ‘all depends’.
The problem we have is that the greatest impact on GDP growth rate… »

With the holidays upon us and with the monumental event of health care reform behind us I think is time to wrap up this week’s news before taking the weekend off.

Health Care Reform:

Obviously the big news has been the long and painful procession towards this morning’s historic vote in the Senate. I will eschew any… »

Even for a skeptic such as myself this is good news. The idea that the Senate Democrats have reached an agreement and have legislation that they can get sufficient votes to pass is a massive step forward for the country. That the bill being proposed lacks many features I would have preferred to see –… »

Ugh.
In today’s Financial Times Gillian Tett, whose writing I otherwise admire, has an article in which she concludes that sovereign credit default swaps have a useful role to play in international finance. She’s been hanging around with her Wall Street buddies too much.
Before your eyes glaze over – alright I admit that’s too late –… »

I don’t want to delve too far into health care reform at the moment. Frankly nothing is more distasteful to me than the current tangled and smoke filled room mess in the Senate. Apparently any single senator can derail anything, which merely highlights how undemocratic American politics can be at times. The Senate is an… »