Paul Krugman alerted me, in his blog, to this academic paper: Rajan Paper 2005 I pass it on to you in the hope that some of you will read it. The author is a respectable economist who was roundly set upon by the establishment figures gathered at the Jackson Hole event he presented the paper […]

Now that the New Year has arrived all eyes are focused on the stimulus plan being assembled by the Obama team. First reports indicate that as much as $300 billion wll be in the form of tax cuts. That’s a bad idea. Here’s Krugman in today’s New York Times explaining why: Fighting Off Depression The […]

Here’s the news release from the Conference Board: Consumer Confidence Index No real news here. Consumers are taking a huge hit as businesses cut jobs and house prices continue to fall. So it cannot be a surprise to see surveys of confidence reflecting doom and gloom. The longer this continues the worse off we all […]