consumption

Interest Rate Mania

by on October 29, 2015

People keep asking me about interest rates. I wish they would stop. The question always make me feel like mimicking Eugene Fama: rates are rates. [more…]

Stagnation: For Whom?

by on January 15, 2014

I read with interest Steve Keen's latest tilt at Paul Krugman in the new edition of Real-World Economics Review. This has been an ongoing discussion, [more…]

2014: Same as 2013?

by on January 2, 2014

Well, it looks that way. We seem to be stuck in something akin to the mud that engulfed my neighbors car a week or so [more…]

What Sustainability?

by on December 9, 2013

I can understand why capitalists are opposed to democracy: the impulse of the masses is - usually - to redistribute some of the loot downwards [more…]

Signs of Life? Part 2

by on December 5, 2013

Yesterday's reports of economic strength have been followed by a couple of similar reports today. We are spoiled by good news. Well sort of.

The [more…]

US Economy Grows 2.8%

by on November 7, 2013

Don't get too carried away by today's report on the economy. Growth of 2.8% in the third quarter is nothing to be happy about because [more…]

Five Years Already

by on September 11, 2013

Amazing. It's roughly five years since the economy tanked, since Lehmann folded, and since we began to discuss the worth or otherwise of bailouts. Five [more…]

More Sideways Than Up

by on April 29, 2013

The economy just can't get on a roll. We managed to get passed the slow down of late last year only to run full square [more…]

Retail Sales

by on March 13, 2013

A quick note:

Retail sales rose quite strongly last month despite higher payroll taxes. Overall sales grew 1.1% in February, the biggest increase for five [more…]

Growth, But Barely?

by on February 28, 2013

Today's headline is that the economy grew, just, in the fourth quarter last year. GDP rose at an annual rate of 0.1%, down from 3.1% [more…]