Archive for July 22nd, 2010

I see from today’s testimony before Congress, that Ben Bernanke promises the Fed ‘will act’ if the economy underperforms.
Ummm.
The economy is already underperforming.
So: when will the Fed… »

In view of the ongoing, and fraught, discussion about austerity measures and their effect, I thought I would present the theories underlying the two sides of debate.
Basically we are going through a rehash of the Orthodox versus Keynes argument that has been an episodic moment for decades. That it remains unresolved is testimony to the… »

Today’s report of a jump in claims for unemployment assistance – by 37,000 to a total of 464,000 – is both disappointing and salutary. Yet expected.
The declines of the past two weeks had been given an artificial boost by the auto industry’s policy this year of not shutting down for a summer break. This created… »