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    Economics / construction, Greece, home prices, real estate, recovery, wages /

    Building Confidence? Not in Greece

    February 15, 2012

    File this under small blessings: the index that measures real estate construction business confidence increased again. This is five straight months of gain. The mood of despair that marked so much of the last few years is finally, and very slowly, lifting. Please re-read that: the mood is changing very slowly. The index has now […]

    Economics / B. of A., bailouts, bank reform, banking, bankruptcy, Citibank, JP Morgan Chase, Minsky, Volcker Rule /

    Volcker and Banks

    February 14, 2012

    We have reached a crucial point in our attempt to bottle up the banks. It looks as if they will win. That means the economy will lose, and the likelihood of a new crisis immediately jumps. Read your Minsky. And weep. There is a looming deadline in the Dodd-Frank regulations that requires rules to go […]

    Economics / GDP, jobs, recovery, retail sales, wages /

    Sales Point the Way

    February 14, 2012

    The stock market sagged at the sight of today’s retail sales report. The news was note as good as Wall Street had forecast, so stock prices had presumably anticipated something that didn’t exist. What a shock. Coming out of the end of last year some forecasters had begun to hyper ventilate about 2012 being a […]

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