blogs.wsj.com - 10/30/2009
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Along with Thursday's GDP report, the Department of Commerce offered an important clue to answering one of the biggest questions hanging over the U.S. economy: How quickly U.S. consumers can shed their onerous debts and get into a position to spend again. In a table buried deep in its ...
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Fed Watch: Sustainable Growth?
Economist's View —
... That the
recession would end was never in doubt. Indeed, the timing
is almost exactly what one would expected given the steep declines in spending
in the first half of 2008 that triggered the flood of job losses later in the
year. Spending, consumer spending most importantly, would
not fall indefinitely, especially with the benefit of significantly lower energy
costs beginning in the second half of last year. Moreover,
as the
Wall Street Journal notes, rebuilding household balance sheets is not
accomplished by just increased savings; a default can ...
Friday Reading
The Big Picture —
A few worthwhile reads before the weekend:
• Credit Ratings Now Optional, Firms Find (WSJ)
• Why the Goldman Sachs-AIG Story Won’t Go Away (Bloomberg)
• Victory for Obama Over Military Lobby (NYT). Now what about Banking Lobby?
• Why Didn’t Inventories Go Up? (Norris)
• Mortgage Payments Declined in Q3 (Real Time Economics)
• Fed’s Regional Chiefs ‘Fight’ for Monetary Policy Independence (Bloomberg)
• 5 Nightmare (not forecasts) ...
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