latimes.com - 2/6/2009
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Discuss Article (137 Comments) It began as a subprime surprise, became a credit crunch and then a global financial crisis. At last week's World Economic Forum in Davos, Switzerland, Russia and China blamed America, everyone blamed the bankers, and the bankers blamed you and me. From where I ...
latimes.com - 2/5/2009
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latimes.com —
Times were so tough for window repairman Timothy
Carl Klenke, police say, that he decided to take...
proactive measures: He armed himself with a slingshot and began cruising around the city, shattering at least five windows and car windshields as he ...
(more)
CALIFORNIA BRIEFING - Los Angeles Times
latimes.com - 2/1/2009
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latimes.com —
One month into the new year and the
stock market already finds itself in a deep hole....
For people whose portfolios were devastated by last year's market crash -- but who still held fast to their stock investments -- this may force some soul-searching ...
(more)
Staying in stocks a test of sanity - Los Angeles Times
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Blog Reactions
Hookah-Smoking Caterpillar Keynesians
EconoSpeak —
... neither more nor less. Taken together -- the Humpty-Dumptians with the Caterpillars -- there is only one side of the mushroom that matters. Astonishing as it may seem, there is a kernel of truth to the mushroom and multiplier prescription. To get at that kernel, though, it is best to eschew the platitudes and tautologies of the Caterpillars and Humpty-Dumptians themselves and listen (critically) to the Village Idiots instead. Peter Schiff is an Idiot. So is Niall Ferguson. Harold Cole and Lee Ohanian are certifiable Idiots. These people are ...
Department of "Huh?"
J. Bradford DeLong's Grasping Reality with All Eight Tentacles —
... Keynes can't help us now: I heard almost no criticism of the $819-billion stimulus package making its way through Congress. The general assumption seemed to be that practically any kind of government expenditure would be beneficial -- and the bigger the resulting deficit the better. There is something desperate about the way economists are clinging to their dogeared copies of Keynes' "General Theory." Uneasily aware that their discipline almost entirely failed to anticipate the current crisis, they seem to be regressing to macroeconomic childhood.... ...
Four more pieces on the current financial problem that I liked
Newmark's Door —
Greg Mankiw: My Preferred Fiscal Stimulus (2/5) and How to Recapitalize the Financial System (10/8/08).
Niall Ferguson: "Keynes Can't Help Us Now" (2/6).
Jonah Goldberg: "The Great Overreach" (2/6).
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