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Employment – More Grim News

The unemployment numbers released this morning confirm the other data we saw earlier this week: the economy is shedding jobs at an alarming rate. Unemployment has now reached 8.5 %, and will undoubtedly get worse in the next few months. Here is the government press release: Employment Situation Summary We have now lost over 5 […]

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Unemployment Data Belies Signs of Improvement

There have been a number of statistics released in the past two weeks that seem to indicate that we may be reaching to bottom of the downturn. Data from manufacturing managers and durable goods orders both were firmer than they have been for a while. Personally I prefer to see two or three months of […]

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That Geithner Plan Again

Joe Stiglitz has an excellent and simple description of the economics of Geithner’s toxic assets buy out plan in today’s New York Times: Op-Ed Contributor – Obama’s Ersatz Capitalism As you know I remain opposed to the plan. It has two flaws both of which are fatal from my point of view: First: As Stiglitz […]

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