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Home Sales Perk Up

Good news: sales of new homes rose 5.7% in September to an annual rate of 389,000. This is the highest rate of activity since early 2010 when the imminent expiry of the first-time home buyer tax credit artificially boosted sales. That we can look at today’s figures with some optimism is telling. September’s level of […]

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Banking in the Middle

Politics is dominating the US scenery right now, so very little constructive conversation is taking place in Washington about how to fix the economy. That doesn’t mean that people elsewhere aren’t talking. Andrew Haldane, for instance, has given us a brief insight into his views. They resonate well here. The economics profession was, and remains, […]

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Political Economics

Like everything in America the economics profession is deeply politicized. The chasm that divides the two sides of the cultural war is mirrored exactly by two sides equally entrenched in economics. This means that nothing an economist says can be taken at face value. The entire profession is now bogged down, failing to move forward, […]

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