The Radford Free Press – Page 359 – All life is problem solving.

Economics / Bush, economic theory, Obama, recession, Summers /

Larry Summers To Go

September 22, 2010

Hurrah. I am not a fan of Larry Summers. I will not miss his ego, his stifling presence, and his lack of progressive attitude. He served at a time when we needed strong action to put the economy back on a more sustainable path following decades of neglect and deregulation. His primary contributions were to […]

Economics / Case Shiller Index, home prices, real estate, recession, stimulus /

House Prices Weaken Again

September 22, 2010

I imagine this feels like old news, but in the only major report released today we learned that those home prices tracked by the Federal Housing Finance Agency, i.e. those homes with a mortgage backed or guaranteed by either Freddie Mac or Fannie Mae, declined slightly in July. The drop was only 0.5%, but it […]

Economics / Federal Reserve Board, Hoenig, inflation, interest rates, monetary policy, Taylor Rule, unemployment /

Our Do Nothing Fed

September 21, 2010

Ugh. These guys are getting really annoying. The Federal Reserve Board released the minutes of the latest Open Market Committee today. The message was one of caution, slightly less optimism, and inaction. They promise to do something, sometime, just not yet. The Fed has a charter to protect full employment and price stability. The latter […]