Straight from the New York Times this morning is Uwe Reinhardt’s brief but excellent comment on the inability of the economics profession to foresee the current crisis: An Economist?¢?‚¬?„¢s Mea Culpa – Economix Blog – NYTimes.com Those of you who have to listen to me regularly know that I am counted among those who regard […]

Here’s a story from the New York Times that captures the historic mess we are in: Minutes Show Depth of Fed’s Concern The Federal Reserve Board is at the epicenter or our system for gathering data on the economy. And they seem to have been ‘shocked’ at the mess they found when they studied the […]

This entry from Paul Krugman’s blog is well worth reading: Stimulus arithmetic (wonkish but important) – Paul Krugman Blog – NYTimes.com I agree with the basic conclusion. As things are shaping up the stimulus plan being put together is a whole lot weaker than we need. And it appears to be that way purely to […]