Tag Archive

Warring Economists and The Great Sleep

I sincerely hope that all of you are now busy exploring your economics textbooks. Really. Well at least I hope you are paying close attention the the war being fought within the economics profession. As arcane as it sounds, that war will affect your lifestyle for years to come. We all have a vested interest… »

The Fed And Deflation: Are We There Yet?

Who knows?
Most likely nothing but issue a statement designed to let us know that they are still vigilant.
The problem is that the Fed is now highly divided between the fiscal hawks, and the newly energized deflation worriers. Under normal circumstances the Fed airs its differences around the table and not in public, but as the… »

When Will The Fed Act?

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… »

Jobs and Production: Where’s The Improvement?

Yesterday we read that Bernanke gave a fairly upbeat assessment of the economy in his regular briefing of Congress. We also read that his information was derived, in part, from the local Federal Reserve banks, all but one of which – the laggard being St. Louis – reported improvement in activity and jobs within their… »

Banking, Geithner, The Fed: Doomed to Repeat?

What a glorious day. I walked back up from the Strand bookstore and in so doing wandered past the citadels of more than one of our anti-social banking community. Spring may be the harbinger of warmer days, but I am now seriously wondering whether they will be better.
Why, you might ask, am I so downcast… »

Housing and Bernanke: Bleak House?

Hot after yesterday’s report on the ongoing weakness in home prices comes today’s shocking report on the sales of new homes. Just as was the case with the price data there is no way we can put a pleasant gloss on the sales news. It stinks.
Sales of new homes actually dropped in January to a… »

Bernanke Confirmation

I have left Bernanke’s confirmation for a second term at the Fed uncommented upon for the simple reason that I have little to add. But for the record: on balance I opposed his re-appointment.
On the negative side:

He has shown little indication that he intends to adjust the Fed’s activities in light of the experiences from… »