The Radford Free Press – Page 477 – All life is problem solving.

Economics / recession, recovery, retail sales /

Retail Sales: Not Good

July 9, 2009

There is nothing worse than heading off for your summer holidays underneath cloudy rain-filled skies. Your spirits sag just as much as your damp clothes do. Why the meteorological reference? Retail sales for June were decidedly wet. The major retailers report sales on a monthly basis and so we can get a reasonable look at […]

Economics / fiscal policy, Hyman Minsky, Keynesian economics, monetary policy, Paul Krugman, recession, recovery, stimulus /

Stimulus Debate Heats Up

July 8, 2009

You have to love it when a politician starts rambling on about Keynesian economics. Even when he’s wrong. Today’s Financial Times has this quote in it: ‰ÛÏI thought the outdated and discredited Keynesian economic theory behind the effort was misguided, and I was convinced it wouldn‰Ûªt work,‰Û? he said. ‰ÛÏUnfortunately, recent economic data has validated […]

Economics / California, recession, state budgets, stimulus /

The Hidden Problem: State Budget Collapse

July 7, 2009

The news that California has now run so low of cash that it is resorting to using IOU’s to pay its creditors should have made you sit up and take notice: for all the rumbling about the parlous condition of the federal treasury the states are relatively worse off. Should we care? Absolutely. First let […]