In response to a question about this comment at The Baseline Scenario: Pay Back Time? The upcoming G20 meeting threatens to be either raucous or a typically weasel worded non-event. there are huge policy differences between the US/UK and Europe on how to deal with the current crisis. In fact the European response seems to […]

Krugman nails it today. Here’s his column in this mornings New York Times: Op-Ed Columnist – The Market Mystique Therein lies the rub. Those of us who think something fundamental is wrong align with opinions like those Krugman expresses here. Clearly the Obama administration is in a different camp. My view is that finance needs […]

I have been so distracted by the various bailout plans littering Washington and the emerging budget struggles that I have forgotten to keep score on the actual economy. Since the latest and final revision to the fourth quarter data is now available let’s take stock. It was awful. Possibly the worst quarter on record. Or […]