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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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The End of The Road For GM?

There really is not too much to say about GM that hasn’t been already said: it is a dead company. It reminds me of the famous Monty Python sketch about the parrot. As the great John Cleese said ‘if it hadn’t been nailed to the perch it would be pushing up the daisies’. In many […]

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