It’s Over. Economists are Speechless.

I'm a few days late with this, but much of the mainstream media have covered it already.  The recession is over.  Officially.  We are now in recovery officially.  Actually we've been in recovery for over a year now, ever since June 2009.  The official pronouncement is here. Of course this has led to much confusion … Continue reading It’s Over. Economists are Speechless.

The Great Deprivation: Decapitating Human Capital

Good article describing the long-term impacts of our short-term failure to address unemployment and jobs creation: Everyone keeps calling it the Great Recession, as though they are not too depressed about the prolonged backslide in gross domestic product, which only recently resumed its upward climb. Backslide may describe what happened to the market economy, but … Continue reading The Great Deprivation: Decapitating Human Capital

What’s a Recession? (officially)

Here's the definition of recession directly from the referees that make the official call, the National Bureau of Econ Research Bus. Cycle Dating Committee.  Guess what, it's NOT "2 quarters of declining GDP" as numerous news media types and financial talking heads like to say (it hasn't been that since 1978, but they never let … Continue reading What’s a Recession? (officially)

Is the Recession Over?

Spoke to Jill Reglin’s Writing class about “Is the Recession Over?”.  A copy of the presentation is available at: Powerpoint File MP3 audio of the lecture itself It’s in powerpoint format (ppt).  If you don’t have Microsoft Powerpoint, download OpenOffice from the “Free Software” page link at the top of this page. OpenOffice is free … Continue reading Is the Recession Over?

Unemployment and Things that make me go uh-oh.

Employment report is out for September 2009. Not good. Granted it's not the horror show we were seeing early in 2009. The decline of 263,000 in total employment is much better than the 500,000 and 700,000 losses we were seeing earlier this year. But this has been happening a long time now. That's a lot … Continue reading Unemployment and Things that make me go uh-oh.

US income gap widens as poor take hit in recession – Yahoo! News

Not much else to say: The recession has hit middle-income and poor families hardest, widening the economic gap between the richest and poorest Americans as rippling job layoffs ravaged household budgets.The wealthiest 10 percent of Americans — those making more than $138,000 each year — earned 11.4 times the roughly $12,000 made by those living … Continue reading US income gap widens as poor take hit in recession – Yahoo! News

There’s No Crowding Out Here.

People who worry the most about the recent increases in US government borrowing are generally worried about one of two things: crowding out or inflation.  They fear that either if The Fed doesn't "print new money" for the govt to borrow, then the government's demands for borrowing money will drive up interest rates.  This driving … Continue reading There’s No Crowding Out Here.