The Great Recession of 2007-2009, which has been morphing into a Depression, has been different from most recessions of the post-World War II era. It has been what economists call a "balance-sheet" recession. Normally (at least since World War II), recessions were the result of the central bank (The Fed in the U.S.) raising interest … Continue reading Private Debt vs. Government Debt
Day: July 14, 2011
How to Tell If the Politician or Reporter Is Ignorant, Foolish, or Has a Hidden Agenda – Part 1
One of the reasons my posts have been scarce* lately is because, frankly, I'm frustrated and nearly speechless at the foolish talk and nonsense that currently passes for news about the economy lately. In particular, this year the politicians and reporters in Washington have been focused on the federal government deficits and debt. We are … Continue reading How to Tell If the Politician or Reporter Is Ignorant, Foolish, or Has a Hidden Agenda – Part 1
EconProph 