US economy
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How many times have we heard that this was the worst recession since the Great Depression?
Edward Lazear: The Worst Economic Recovery in History - WSJ.com
In Tuesday’s WSJ, Edward Lazear argued that we are now experiencing the “Worst Economic Recovery in History”.
The Recovery According to Ed “We are not in a recession” Lazear
This Real News Network interview with William Crotty provides a useful overview of the current Obama stance on the Federal budget.
Is Obama Still on the Austerity Train? « naked capitalism
By Simon Johnson The principle behind unemployment insurance is simple.
Mean-Spirited, Bad Economics « The Baseline Scenario
There has been a deluge of articles recently about the upticks in the housing data. The consensus is that these data points are surely indicating, finally, a bottom in the depressing decline of real estate. Let me acknowledge that I do not dispute the improvement in the data regarding home starts, permits, pending sales, etc.
Why Home Prices Have Much Further To Fall
What will the New Year bring for housing markets? Prediction is a perilous business, but history and basic housing economics suggest that price changes will stay modest, and that construction will increase only slowly. The best that can be said about the current market is that it offers abundant affordability and that the broader economic recovery doesn’t depend on a big housing rebound.
Glaeser: Don’t Count on Housing Market to Lead Recovery - Bloomberg
World military spending in 2010. Note that Iran’s is not a big enough proportion of world arms spending to show up on this graph, which doesn’t show countries that are lower than 2% of the global total.
Graphic of World Military Spending (Iran's too Small to Show up) | Informed Comment
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Uwe E. Reinhardt is an economics professor at Princeton. He has some financial interests in the health care field.
Uwe E. Reinhardt: The Wyden-Ryan Plan for Health Care - NYTimes.com
Tom Ferguson on America for Sale « naked capitalism
Tom Ferguson is my favorite curmudgeon and if you listen to this podcast from Radio Free Dylan [Ratigan], you are likely to join his fan club.
Housing
« Supply Chains and the Future of Globalization in the Wake of the Tōhoku Earthquake and Tsunami | Main | Advice for the academic job market » When I discuss Lost Decades I always stress the fact that the “s” denotes the plural. Figure 1 shows that a decade and a half in, the trajectory of output has been noticeably depressed since 2001Q1.
I>Lost Decades</I>, Illustrated
20 July 2011, Financial Times
John Kay - American lessons in how to run a single currency
“When I was in Norway one of the Norwegian politicians sat next to me at a dinner and said, “You know, there’s one good thing that President Obama has done that we never anticipated in Europe.
Wall Street’s Euthanasia of Industry | Michael Hudson
The False Dichotomy of Greed « naked capitalism
By Sell on News, a macro equities analyst. Cross posted from MacroBusiness The Euro crisis appears to be developing into something similar to the 1980s Latin American debt crisis when the idea that, to quote Walter Wriston, who ran First National City/ Citibank from the 1960s into the 1980s it was assumed that: “countries don’t go out of business.”2007/8 financial crisis
Financial Sector Fraud
Cognitive Regulatory Capture
Get Ready for TARP 2.0 « naked capitalism
Washington DC appears to be readying itself for a repeat of the TARP, namely, the passage of unpopular legislation to appease the Market Gods (and transfer even more income from ordinary Americans to the Masters of the Universe). It isn’t yet clear whether this drama will be played out via generating bona fide financial market upheaval or mere threat-mongering (the Treasury market seems pretty confident that well-trained Congresscritters will fall into line).Jobless recovery...
The nation is still struggling with the effects of the most serious financial crisis and economic downturn since the Great Depression.
Short-termism and the risk of another financial crisis - The Washington Post
Fault Lines...
debating the future of capitalism - perspectives...
The politics and economics of Austerity