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    Economics / banking, Community Reinvestment Act, deregulation, Financial Crisis Inquiry Commission, free market theory /

    The FCIC and Political Economy

    December 15, 2010

    In the old days, before orthodox economists decided to try to look scientific, economics was more commonly called “political economy” or some such thing. Evidently the discipline’s founders had no problem with advertising the obvious connection between the study of matters economic and matters politic. The two seem a natural pairing. Especially when it comes […]

    Economics / consumption, GDP, retail sales /

    Signs Of Life

    December 14, 2010

    Today’s news that retail sales ticked up 0.8% in November is cause for some optimism. This is the fifth month in a row that sales have risen and the data looks even better if we exclude the sales of cars which is a notoriously fickle number. By making that adjustment we find that sales rose […]

    Commentary, Economics / banking, deficits, recovery, stimulus, tax cuts /

    Upside Down Financial Crisis

    December 13, 2010

    I had the misfortune to read an article by William Cohan in the New York Times. It was about the impending fiscal crisis. It was about how we all have to tighten our belts. It was awful, and a testimony to the upside down group think now dominating our debate about the budget. It made […]

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