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    Economics / bailouts, consumption, deficits, fiscal policy, GDP, retail sales, stimulus, unemployment, wages /

    Retail Sales Versus Debt Liquidation: Which Wins?

    November 15, 2010

    The phase of the recovery we are now in can be described as a tussle between two opposing sentiments for households. Do they go out and buy? Or do they pay down debt? Of course this is an aggregate view because there will be plenty of households in both camps. So it is the balance […]

    Commentary /

    Remembrance Day

    November 11, 2010

    A quick note: today is Remembrance Day in the UK. Their version of Veteran’s Day. But there’s a big difference. They take it seriously. For all our bluster and faux patriotism here, we don’t. The big signal of the difference is that they obey a national moment of silence in order to remember those who […]

    Economics / Obama, taxes /

    Obama Caves In On Tax Increases

    November 11, 2010

    So this is the way it will be. No fight. No argument. Just weasel words to cover for the fact that our dear leader cannot summon the spine to confront his opponents. To the Republicans this must feel like shooting fish in a barrel. A very small barrel. One of the big issues left undone […]

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