Well done California. A temporary reprieve from disaster and an opportunity to spend some time pondering the medium or longer term actions necessary to get control over its fiscal house. But at what a cost. The stupidity of the last few months has been the nature of the discussions. The Democrats and the Governor had […]

For those of you who want to delve into data, here is today’s press release about housing starts: Housing Starts Drop Again. We are well past noting this as news. Our national obsession with home ownership was what propelled us into this mess, so it is only natural for the construction industry to be dire […]

The one issue that seems now to be occupying the minds of the better analysts is how soon will this crisis be over and what will be the engine of recovery? To that end I highly recommend Martin Wolf’s piece in today’s Financial Times: FT.com / Columnists / Martin Wolf – Japan’s lessons for a […]