Sy Harding, in Forbes: Yes, the economic recovery was an illusion. So let’s not talk of double-dips. Let’s face the reality that the real economy’s first dip is still underway, that the real economy is still scraping along a bottom. That’s not a bad thing. It’s better than the thought that the economy recovered but…
Economy
Economy, Government Spending, Taxes/Taxation
Bury Keynesian Voodoo Before It Can Bury Us All: Kevin Hassett
by JOHN ADAMS •
If the economy is in deep trouble, there are two economic policy steps that one could take in order to create a positive stimulus: reduce tax rates, or spend more money. (The so-called tax cuts in the 2009 stimulus had little effect because they were primarily credits and deductions, rather than reductions in marginal rates.)…
Economy
LaToya Egwuekwe’s Decline: The Geography of a Recession
by JOHN ADAMS •
Journalist and blogger LaToya Egwuekwe created a depiction of the recession entitled, The Decline: The Geography of a Recession that is as powerful for being so startling. Here’s that depiction, showing the spread of the recession through the increase in unemployment across America: Link: http://www.youtube.com/watch?v=9ssIhiD8kKM. Sad and astonishing in its subject, this is a video…
Economy
Human/Capuchin Parallels Revisited – Freakonomics Blog – NYTimes.com
by JOHN ADAMS •
So are people hard-wired to make bad decisions, the way monkeys do? Take finance: we tend to play it safe in situations where we stand to make gains. But faced with the risk of a substantial loss, we get nervous and opt for even riskier strategies in the vain hope we can avoid losses altogether….[Researcher…
Economy
Rural America’s Jobs Picture: Slightly Less Unemployment, But Fewer Jobs Available (2009 – 2010)
by JOHN ADAMS •
Economy
June jobs report reveals recession’s still-tight hold on [Wisconsin] state
by JOHN ADAMS •
The report’s findings confirm one thing, and suggest a second. First, regardless of the different solutions economists have for remedying our troubled economy, there’s general agreement that difficult conditions persist. Second, although the state is seeing hard times, not every community will feel the same hardships. Unemployment is not uniformly distributed across the state. Some…
Economy
Cato@Liberty – Paul Krugman on Carter and Reagan: Wrong Again
by JOHN ADAMS •
Over at Cato.org, Alan Reynolds shows how Paul Krugman’s turned out to be a sloppy, careless columnist. In assessing the tax policies of the 1970s and 80s, Krugman cherry picks his figures, and even gets the starting date of a recession wrong – by about a year. Krugman’s blog makes mistakes like this ever more…
Economy
U.S. Economy: Fears rise as disappointing figures pile up – latimes.com
by JOHN ADAMS •
….Most economists believe a dip back into recession — as well as an equally debilitating bout of deflation, or broadly falling prices — will be avoided. But many have nonetheless warned that the prospects are rising, and say the more probable scenario isn’t much more appealing: a protracted economic malaise with imperceptible growth and stubbornly…
Economy
John Merline: Where Did All Those Economic ‘Green Shoots’ Go?
by JOHN ADAMS •
John Merline asks, “Where Did All Those ‘Green Shoots’ Go?” In an Aug. 2 op-ed headlined “Welcome to the Recovery,” Treasury Secretary Timothy Geithner said that “we are on a path back to growth.” Eight days later, the Federal Reserve issued a report saying the “pace of recovery in output and employment has slowed in…
Economy, Politics
Voter Volatility Hits Fever Pitch – WSJ.com
by JOHN ADAMS •
Gerald Seib writes that It’s becoming increasingly clear that Americans arent simply in the midst of hard times. They are in the midst of one of the most volatile political environments since World War II.The immediate cause of this volatility is clear enough to see. Just a few months ago, there was a chance that…
Economy, Taxes/Taxation
Analyst: Odds of Double Dip Recession Higher Than 50-50
by JOHN ADAMS •
I have no way of calculating the likelihood of another recession. More meaningfully, and without any predictions, one can see that present conditions are already hard for millions of unemployed Americans. It’s telling that no major analyst seems to be predicting better times soon. We can assure a return of better times sooner, however, if…
Economy, Government Spending, Taxes/Taxation
Krugman Is Wrong on Ryan and the CBO – McArdle @ The Atlantic
by JOHN ADAMS •
Development, Economy, Planning
Richard Florida Discusses the Great Reset of Urban Development in Economic Downturns
by JOHN ADAMS •
Richard Florida, author of The Great Reset, discusses how this recession may change American life as did the depression of the 1870 and the Great Depression. Florida is interested in national trends, and especially the great cities of America. He contends that transportation infrastructure was, and may yet, be a good investment. Nonetheless, he acknowledges…