recession

Arnold Kling makes an important contribution to the debate about fiscal stimulus and double dip recessions which was also pointed out to me in the comments of my recent double dip post: Paul Krugman provides an analysis showing…

Remember when I said the following: GDP as reported From my view point point, the interesting bit about GDP is NOT inflation (i.e. real vs. nominal GDP), but rather the fact that the number which is reported is a first…

This comes from the blog News from 1930 on financial news from this day in… 1930 (I don’t what they plan to do after New Year’s Day): Bankers Trust of Philadelphia closed after heavy withdrawals; had 135,000 depositors, total deposits…

For the period leading up to the panic last year, I had been warning of a rather severe recession. My view at the time was that what was needed was a realignment of America’s industrial organization away from finance and housing where…

Note: this post originally was posted without correct attribution to Bill Mitchell, who writes a blog called Billy Blog where he had posted the thoughts now attributed to him below. Bill is a well-regarded Professor of Economics at the…

There has been quite a lot of hub-bub today about President Obama’s fat cat remarks and his meeting with bankers exhorting them to lend. Let me tie these events in with a few other themes into a comprehensive picture of what is happening in…

The closing of the Bank of the United States could be considered the event during the Great Depression that was most akin for the U.S. to the collapse of Lehman Brothers last year.  The event occurred on 12 December 1930 – so 79 years…

The Irish government announced draconian spending cuts of 6 billion Euros in order to stave off a debt crisis in the worst modern-day downturn in the nation’s history.  Even so, Irish government bond yields have been rising relative to…

The headline at Bloomberg reads “Ireland, Greece May Leave Euro, Standard Bank Says.”  Before I even started reading this I was sceptical.  The Telegraph’s Ambrose Evans-Pritchard makes calls like this, but his Euro-sceptic views…

This comes from the Blog News from 1930 which tells us what happened on this day in 1930 according to the Wall Street Journal: Pres. Hoover criticizes wide variety of extensive relief measures introduced in Congress as “playing politics…