The Radford Free Press – Page 281 – All life is problem solving.

Economics / Bernanke, Federal Reserve Board, fiscal policy, interest rates, monetary policy /

The Fed at Bay

August 9, 2011

Just a very quick note about two aspects of the Fed’s announcement on interest rates today. First: it is obviously worried about the economy. Very much so. Enough to announce that it will be keeping rates unchanged until at least 2013 – or as long as the economy stays this weak, which from my perspective […]

Commentary, Economics /

S&P Rubbish

August 9, 2011

As an afterword on the whole downgrade silliness, the world has been full of S&P critiques. Quite why we need to add to the very obvious fact that S&P is clueless as to risk, and very likely corrupt to boot, seems beyond me. Anyone who believed the magical stardust sub-prime mortgage lead into AAA gold […]

Economics / bank reform, bankruptcy, consumption, household debt, jobs, productivity, recovery, stimulus, unemployment /

Productivity and Its Place In Our Story

August 9, 2011

The stock market is rising strongly today after yesterday’s plunge. I won’t bother to dignify this extraordinary oscillation with a comment other than to say that anyone who believes stock’s are “efficiently” priced has a lot of explaining to do. Precisely what, I wonder, is so positive today that it can offset yesterday’s negativity. More […]