nakedcapitalism.com - 12/3/2008
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One thing I have found troubling is the near-unanimity in the US that we must Do Something about the burgeoning economic crisis, and that Something is big time monetary and fiscal stimulus. Near unanimity is almost never a good thing in the political and policy realm, since conditions and ...
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2009: currency strains
Decline and Fall of Western Civilization —
... but, in the best spirit of murphy's law, naturally this appears to be exactly what is happening, as long anticipated here. more attention is being paid now to china as playing a role clearly analogous to the united states in the 1930s as the "alpha creditor", with the united states now playing the role of the waning british empire. the sustained and yawning current account imbalance, now as then, is at the heart of many of our difficulties. further, yves smith comments on a column by ft's martin wolf (which follows on an earlier ...
Thursday morning links
The Mess That Greenspan Made —
... Bank's 'Freeze' - BusinessWeek Buyers flock to condo auction, ready to snap up bargains - MarketWatch Signs of life in U.S. housing market - Globe & Mail House Prices and Interest Rates - Calculated Risk A Rush Into Refinancing as Mortgage Rates Fall - NY Times FED/TREASURY/BANKING The Fed's Potentially Very Bad Policy - Seeking Alpha Bernanke Should Buy Buicks Instead of Bonds - Bloomberg Wolf: Stimulus Programs by Big Debtor Countries Will End in Tears - Naked Capitalism Geithner ...
Dead Keynes Blogging
EconoSpeak —
by the Sandwichman The Sandwichman is still wondering how economists make up their guesses about how $x billion dollars of fiscal stimulus (AKA "deficit spending") will create y million jobs. Yves Smith says they find them on the back of an envelope. Greg Mankiw says econometrics doesn't always confirm the predictions of textbook Keynesian models. Martin Wolf mentions something about how "deficits aimed at sustaining demand will be piled on top of the fiscal costs of rescuing banking systems bankrupted in the rush to finance excess ...
Related Content
Against the Big Stimulus
econlog.econlib.org 1/5/2009 — (January 5, 2009 08:54 AM, by Arnold Kling) After reading Willem Buiter's long piece (pointer from Mark Thoma), I decided that it is time to come out firmly against a large fiscal stimulus. Instead, I would prefer a small stimulus. The case for a ...
What's the Difference Between a Recession and a Depression?
crossingwallstreet.com 1/2/2009 — Hebert Hoover used the word "depression" instead of "panic" to describe the events of his administration. Since then, there's been a battle to define what's a recession and what's a depression. Most seem to define a depression as a 10% drop in GDP. ...
What is a depression?
calculatedriskblog.com 3/11/2009 — It seems like the "D" word is everywhere. And that raises a question: what is a depression? Although there is no formal definition, most economists agree it is a prolonged slump with a 10% or more decline in real GDP. Yesterday I heard an analyst say ...
It’s Called a Depression
alephblog.com 11/20/2008 — I’m going out on a limb here, and I’m going to suggest that we have already entered a depression. The concept of a depression is even less objective than that of a recession, but some suggest that a decline in real GDP of 10% or more is ...
The Second Great Depression Wends Its Way Forward in December
fistfulofeuros.net 1/3/2009 — And lands in China.
Well China isn’t quite in the Great Depression yet, but manufacturing activity - which accounts for 43% of the Chinese economy - is already in a technical recession, and phew, it wasn’t very long ago that the ...
Not the Great Depression 2.0
dmarron.com 5/29/2009 — UPDATE: Please see two related posts: “The Long U” and “A Plane Crash Averted?”
The Great Depression was an unspeakably bad time for the U.S. economy. I know that sounds obvious, but it seems necessary to say given all ...
World Economy Falling Faster Than in 1929-1930
nakedcapitalism.com 4/7/2009 — Barry Eichengreen, an expert on the Great Depression, and Kevin O'Rourke, take issue with the notion that the current downturn is less severe than the Great Depression. While the slump in the US is not as bad, that mis-states the global picture. ...
The Great Depression - Just the Facts, Ma'am
safehaven.com 2/10/2009 — Contrary to what you might believe, the Great Depression of the 1930s was not a decade-long era of economic decline. Rather, the Great Depression was made up of two distinct economic slumps - August 1929 through March 1933 and ...
State/Local Fiscal Policy During the Great Depression
econospeak.blogspot.com 11/13/2008 — When I discussed government purchases during FDR’s first two terms as President, I opened with something from Paul Krugman . Alex Tabarrok graced our blog with this comment: Here from HSUS is Federal Spending by year - note by 1934 spending had ...
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