Whoops. A couple of days ago I wrote that there were the first signs of the economy reaching the bottom of its decline. The data yesterday and today seem to indicate that the decline is still in full swing. So much for optimism. New home sales are now at all time lows: an annual rate […]

OK. It seems as if the objective of the so called stress tests being applied by the Treasury department to our failed banks doesn’t include a whole lot of stress. Paul Krugman both reports and laments here:Not much stress – Paul Krugman Blog So what’s the deal? Bernanke, in his testimony before Congress today, toed […]