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More Mediocre News

Ho hum. That seems to be the order of the day with respect to economic news this week. Nothing special. Sometime around last December the head of steam we appeared to have gathered over last fall dissipated, and we are left with a kind of patchy sideways feel. The general trend is still upwards, but […]

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The Cruelty of Productivity

Productivity is the most essential measure of the trajectory of wealth. It measures how much time and effort we put into making or doing things. As productivity rises, we spend less time and effort on those activities, which allows us to divert that time or effort into leisure, thus raising our quality of life, or […]

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Housing Dips Again

Amidst all the hullabaloo over health care reform the economy chugs along largely unchanged from when we last saw it. Today’s news that sales of existing homes dropped again, for the third straight month, should cause us to reflect on just how fragile our incipient recovery remains. The February data shows sales at an annual […]

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