November 2009

This story is on the front page of Business Week: Detroit Mayor Dave Bing is struggling to save his city from fiscal calamity. Unemployment is at a record 28% and rising, while home prices have plunged 39% since 2007. The 66-year-old…

Hat tip Prieur du Plessis.

Bruce Krasting: FDIC on REO Sales: Keep'em in the Dark! Greece tests the limit of sovereign debt as it grinds towards slump - Telegraph Economist's View: "What if a Recovery Is All in Your Head?" Rhodes pushback -…

This is a pretty wonkish post but I hope you appreciate the concepts presented. I made some allusions to modern monetary theory in a recent post when I asked, “If the U.S. stopped issuing treasuries, would it go broke?” The short answer is…

In this post: A few thoughts about the limitations of government Our founding fathers How large should government be? How policy helps frame the debate Where we are headed In a recent post, “Stop the madness now!” I voiced…

After British chain WHSmith backed out of a deal with Borders, the British retailer, formerly a subsidiary of the U.S. megastore bookseller, is desperately looking to stave off bankruptcy and Chapter 7 liquidation. I love Borders and have…

This comes via Deal Book at the New York Times. The company’s chief executive, Fritz Henderson, called the repayment plan “a personal commitment.” The Obama administration, wardens of the 60 percent taxpayer stake in the company,…

FT.com - Could sovereign debt be the new subprime? (Excess reserves are one reason to buy Treasuries) Kathleen Parker - Kathleen Parker: Judging Sarah Palin by her covers - washingtonpost.com Econbrowser: Factors in local house…

Saturday Night Live’s China-U.S. press conference is pure comedy. It captures the Zeitgeist pretty well. The Mrs. Obama part at the end, though, was way over-the-top (and in poor taste if you ask me). Take those comments out and you have a…

The deficit problem: Dealing with America's fiscal hole | The Economist The Washington establishment suffers a serious defeat - Glenn Greenwald - Salon.com Fed Beaten: Bill To Audit Federal Reserve Passes Key Hurdle The Case…