nytimes.com - 3/1/2009
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THE fundamental causes of this recession, unique in the experience of the United States, were mortgage defaults and the consequent insolvency of major financial firms. These insolvencies, and especially fear of them, damaged normal credit mechanisms. The self-correcting nature of markets will ...
nytimes.com - 3/1/2009
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nytimes.com —
LAST year, the debate over how long the
recession will last was between those in the consensus...
who argued that it would be V-shaped only about eight months long like those in 1990 to 1991 and in 2001 and those like me who argued that it would last ...
(more)
Op-Ed Contributor - The L Curve
nytimes.com - 3/2/2009
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nytimes.com —
“WHEN you stop asking,” was the exasperated reply
of the broker to the pestering client who asked...
the same question over and over during the 1974 stock-market crash: When will it end? Nobody knew, or could know. The broker, wiser than he realized, ...
(more)
Op-Ed Contributor - If You Have to Ask...
Comments
Blog Reactions
links for 2009-03-01
Economist's View —
A Long Goodbye - Spence - NYTimes.com
Stop the Bailouts - Poole - NYTimes.com
Technological Regress in the Thinking of Poole - Brad DeLong
It Can’t Last Forever - Blinder - NYTimes.com
Rule of Four - Reinhart - NYTimes.com
The L Curve - Roubini - NYTimes.com
Rick Santelli’s Planted Rant ? - The Big Picture
Regulations that will stop the next bubble - Daniel Gross
The future of monetary policy in Zimbabwe - voxeu.org ...
Monday's Links
Todd Sullivan's - ValuePlays —
... - "The rich" can't fund these spending plans
- "Of a lifetime"
- When will it end
- Stop the bailouts
Disclosure ("none" means no position):
Visit the ValuePlays Bookstore for Great Investing Books ...
Stop the Bailouts!
The Learning Curve by Muckdog —
... I was critical of many of the Fed members last year when they were worried about inflation. But here's a good column from former member William Poole, Stop the Bailouts. Excerpts, and my comments: ...
NYT asks when will it end?
Angry Bear —
... have 11different responses. Roubini is there suggesting we could see an L curve. We now face a 1 in 3 chance that, if appropriate policies are not put in place, this ugly U-shaped recession may turn into a more virulent L-shaped near-depression or stag-deflation (a deadly combination of economic stagnation and price deflation) like the one Japan experienced in the 1990s after its real estate and equity bubbles burst. Of course there is one response titled: Stop the Bailouts. Can you guess the ideology? (Hint.) Calculated Risk ...
Why There is No Bottom: Economic Forecasts
A Dash of Insight —
... William Poole of the Cato Institute rails against unwise government bailouts, which he believes are making things worse. ...
William Poole says stop the bailouts
Bubble Meter —
The former president of the Federal Reserve Bank of St. Louis says government should stop the bailouts: THE fundamental causes of this recession, unique in the experience of the United States, were mortgage defaults and the consequent insolvency of major financial firms. These insolvencies, and especially fear of them, damaged normal credit mechanisms. The self-correcting nature of markets will ultimately prevail. We should not underestimate the power of monetary policy; with the sharp increase in the nation’s money stock starting in September, ...
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