Joseph Stiglitz

Let’s say I run a company. For the sake of argument, we’ll call it a shoe store in New York City. I am making $100,000 net per year now. But, I look around me and see huge opportunity for growth. So I go to my bank and ask for a loan to…

This September 2009 post still describes my general view on the U.S. economy. If I wrote it today, I would be more bearish medium-term because it is obvious that in 2010 fiscal and monetary policy will become less supportive of recovery.…

The U.S. Dollar fell to its lowest against the Swiss Franc and Euro, while the Canadian dollar and the Scandinavian currencies are also near year highs as well.  If you read Bloomberg, you might think this has to do with a bullish equity…

While most economists have come out in favor of Barack Obama’s decision to re-appoint Ben Bernanke as Chairman of the Federal Reserve Board, Stephen Roach has penned an Op-Ed in today’s Financial Times which highlights the case against…

If you recall, at the end of May, I wrote a post “Both initial claims and continuing claims now pointing to recovery” that said jobless claims data were pointing to an imminent recovery.  The general gist of my argument was recovery…

On why I can't get in to see my doctor - James Fallows Being in Canada, I am interested in these stories. FDIC: Failed Bank Information - Bank Closing Information for Community National Bank of Sarasota County, Venice, FL Failed…

The Best Bank You've Never Heard Of - Barrons.com "If you aren't familiar with Banco Santander yet, you soon will be. The Spanish giant is becoming one of the most profitable banks in the world." CIT near to sealing rescue…

Oil rises near $71 after large fall in U.S. crude stocks "Oil raced toward $71 a barrel on Wednesday, after settling above $70 for the first time in seven months on a larger-than-expected fall in crude oil stocks and a forecast that…

Today vs. the 1980-82 Recession - Menzie Chin "While the job losses, foreclosures, stock declines and other casualties of the current recession have been very painful, substantially more bad economic news is needed to make this…

I'm back after a brief hiatus.  I would like to present you with some data on jobless claims, an economic data series that will become increasingly important in the weeks and months ahead.  The data suggest that a recovery is imminent.…