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    Economics / bond markets, interest rates, recovery, savings, stimulus /

    Depression Politics

    June 15, 2009

    Are we about to plunge into depression? We could. Very easily. If the policy makers get their way. Nothing could be more ludicrous or dangerous than easing up on stimulus right now. Yet the folks who run our economic policy, and their counterparts throughout the large economies, are openly discussing the ways in which they […]

    Economics / commercial real estate, loan losses, real estate, stress tests /

    Voodoo Real Estate

    June 14, 2009

    Just a quick note: sometimes we need to remember that talk of ‘markets’ is a massive abstraction. A market is simply us. Or a collection of us. So when we speak of markets doing something or other we are really talking about us doing something or other. In this context a walk around my neighborhood […]

    Economics / banking, Minsky, recovery, Risk Models /

    Banks, Economics: and That Market Magic

    June 14, 2009

    Sorry to say this but the speed of the recovery looks as if it will be very slow. There are a number of reasons for this, but right at the top comes the state of our banking system. Which is something we have not fixed. A second factor is the state of economics itself. As […]

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