Archive for the ‘Economy’ tag
Layoffs Easing
Just out from the AP: total unemployment insurance claims fell for the first time since January:
The Labor Department said the total unemployment insurance rolls fell by 148,000 to 6.69 million in the week ending June 6, the largest drop in more than seven years. The decline is a sign that layoffs are easing.
The drop also [...]
The Professor as Policy Maker
To watch the rise and fall of Alan Greenspan’s stock with the public is nothing short of spectacular. The former Federal Reserve chairman was revered as a savant gracing us with his unparalleled intellect that could keep the economy running strong. Then, in the lightening fast manner that only public opinion is capable of, he was roundly condemned for not doing [...]
Justin Fox Agrees: Don’t Spend More Than You Earn
[via Alex Tabarrok] The Curious Capitalist Justin Fox was on CNBC recently, with a simple message:
We can’t continue to spend more than we earn.
One of the anchors was shocked at this proclamation, and produced what I think is the greatest quote I’ve heard in a long time: “we can’t have the sort of booming economy we’ve had [...]
Krugman and the Economy of Hope
I’m reading Michael Lewis’ compilation, Panic: The Story of Modern Financial Insanity, and just came across this excellent article by Paul Krugman in Fortune from September 7th, 1998.
What turned a bad financial situation into a catastrophe was the way a loss of confidence turned into self-reinforcing panic … Let’s quote from the June report of [...]
Unemployment Situation, November 2008
The news was worse than expected:
Nonfarm payroll employment fell sharply (-533,000) in November, and
the unemployment rate rose from 6.5 to 6.7 percent, the Bureau of Labor
Statistics of the U.S. Department of Labor reported today. November’s
drop in payroll employment followed declines of 403,000 in September and
320,000 in October, as revised. Job losses were large [...]
President-Elect and the Stock Market
A popular meme currently going around is that the markets are not too fond of the President-elect given their performance this week. See here,here, here and here for more background. The S&P500 is down 3.9% for the week - certainly not numbers I like to see in any given week.
UK Reuters jumps on the bandwagon:
Whatever the [...]
