I just barely missed putting 2009 in the title again. I’ll learn. I have some other things on my plate, so I have not posted quite as often as I would like. I have three or four topics I want to look into. They are:
- Greece and the recent comments by Juergen Stark.
- The morality of strategic default (a reader asked me to write a piece on this)
- More numbers on the unemployment situation
And a few other pieces I can’t remember at the moment.
ps. Marshall Auerback has promised to write a bit more here to give you a variety of opinion.
pps. And my apologies to those whose e-mail I have yet to answer.
Today’s must read post:
These Chartalist guys need a LOT more attention than they are getting. See this post to get a better conceptual understanding of what fiscal stimulus really is and monetary stimulus really is. Very wonky but great framework. I recommend it highly.
- EconomPic: Same Store Sales "Surge"
- Paul Krugman – Bubbles and the Banks – NYTimes.com
Even Krugman doesn’t think you can completely prevent bubbles. You CAN mitigate their impact.
- Economist’s View: Hawkish Talk from the Fed
- FiveThirtyEight: This is Great News! For Sarah Palin! (Really)
- FDIC nibbles nicely at bank risk | Rolfe Winkler
I agree with Rolfe that Sheila Bair is looking like the best of the lot.
- Delinquencies jump for home equity loans, lines of credit – latimes.com
- Android 2.1’s Best Features in Screenshots | Smarterware
- FT Alphaville – Tracy Alloway – AIG and the Fed, not above water but drowning?
- Leno may be returning to ‘The Tonight Show’ – latimes.com
- Deep cuts to social services expected in Schwarzenegger’s budget plan – San Jose Mercury News
- Obama takes steps to bolster security – latimes.com
- Should Geithner Survive the AIG E-mails? | The Atlantic Wire
- FT Alphaville » Why this is not the onset of a new secular bull market
- The Problem with Positive Thinking – The Baseline Scenario
The quote from Bush in the middle was laugh out loud unexpected. Quite a good connection if you ask me.
- TeaPartarians?, Arnold Kling | EconLog
This is a good summary of the issues. I DO think markets fail but the failure we saw last year was more about a lack of regulation, skewed incentives, cheap money and irrational exuberance and less about free markets.
- Inventories and the Price of Oil | Gregor.us
- Economist’s View: Interview with Raghuram Rajan
- FT Alphaville – Paul Murphy – How thick is Tim Geithner’s skin?
- Not So Radical Reform – BusinessWeek
- BW on How the Dems Watered Down Reform : CJR
Sorry, no Bread & Circus feature. I know you need some distractions. They will be back.