The Problems of Nationalizing the Banks Remain
On January 23 of this year I wrote an article titled The Problems of Nationalization In it I outlined three inherent problems with nationalization. Who do you nationalize, how do you actually...
View ArticleWhy Our Tax Code is So Complicated
I wrote this for the Huffington Post for tax day.One of the most common refrains about the US tax code is it's too complicated -- and that compliance costs far too much for the average business....
View ArticleWhere Were the Teabag Protests 8 Years Ago?
Today there are supposed to be many teabag rallies across the country. They are getting together to protest reckless government spending or the large deficits the Obama administration is racking up...
View ArticleIf This Is An Improving Economy, We're In Trouble
Several important economic people have publicly stated they see the economy getting better. Over the last several weeks, Larry Summers said he has heard anecdotal information that things are...
View ArticleHow Do We Get Out of This Economic Mess, Part I
Last week on my blog I took an in-depth look at the four sub-parts of GDP -- personal consumption expenditures, gross private domestic investment, exports and government spending. The point of this...
View ArticleThe Geithner Gambit
From Bloomberg:At least six of the 19 largest U.S. banks require additional capital, according to preliminary results of government stress tests, people briefed on the matter said.
View ArticleHow Do We Get Out of This Economic Mess, Pt. II
Before me move into today's information, let's backtrack over last week's GDP report. In the previous article I expressed a high degree of bearishness regarding consumer spending. Yet in the latest...
View ArticleHas the Employment Situation Bottomed?
From Barron'sLayoffs appear to have peaked. Initial jobless claims fell 34,000 this week to 601,000. Continuing claims edged up to a new high of 6.351 million from 6.295 million. However, initial...
View ArticleBREAKING: Daily Kos Bans Good Economic News
This is a joint article from New Deal Democrat and Bonddad. On Saturday May 9, Meteor Blades wrote a front page diary titled, "One Month of Slightly Less Terrible Jobless News Does Not Make a Trend."...
View ArticleAre Retail Sales Bottoming?
The latest retail sales news was followed by a fairly bearish commentary. However, I disagree with this sentiment for the following reasons.
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Do We Need Another WPA?
This is a joint article from New Deal democrat and Bonddad Regardless of when this recession ends, the malaise of working and middle class America will not be relieved until wages increase, and...
View ArticleInflation From Money Creation Isn't A Problem
A commonly expressed concern regarding the Federal Reserve's recent policy actions is by increasing money supply the Federal Reserve is stoking the fires of inflation once the recovery starts. This...
View ArticleKrugman Says We Could See Growth By Year End
From Reuters:The world economy has avoided "utter catastrophe" and industrialized countries could register growth this year, Nobel Prize-winning economist Paul Krugman said on Monday."I will not be...
View ArticleWhat Will Economic Recovery Look Like?
Over the last few months we're had several important signs that the economy may be bottoming.
View ArticleA Tax Lawyer Refutes Glenn Beck's Call To Lawlessness
Sometime last week Glenn Beck posed a question: what if one million people did not pay their taxes? Beck couched this statement in the context of civil disobedience, citing a quote from Gandhi. He...
View ArticleIs the Treasury Market Signaling Recovery?
A lot has been written about the yield curve lately. Some are saying Treasuries are dropping only because of the increase in federal spending while others are saying we're simply going through a...
View ArticleArt Laffer Is Wrong On Inflation
Yesterday the right wing world was ablaze with an Art Laffer editorial in the WSJ. Hyper inflation is on the way -- at least according Art Laffer and echoed by Ed Morrissey at Hot Air, and Scott...
View ArticleIt Was A Good Week For Economic News
Total US GDP is roughly $14 trillion dollars in total size. Because of this size it simply won't reverse on a dime -- especially considering the length and breadth of the current recession. Instead...
View ArticleVolcker Sees Growth By Year End
From the AP:Global financial markets are starting to heal and the U.S. economy could begin to grow again this year, but a strong recovery is unlikely, said President Barack Obama's top adviser Paul...
View ArticleDon't Expect A Consumer Led Recovery
This article is a joint article between Bonddad and Invictus at Blah3.When economist David Rosenberg left Merrill Lynch to head back to his native Canada, he gave a nod to Bob Farrell’s Ten Rules To...
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