recession

I was chatting with Marshall Auerback about some of my recent posts on Keynesianism and Austrian Economics -- Marshall is a Keynesian -- and he convinced me that my posts were somewhat misleading and that I had only presented half of the…

I am certainly of the view that a considerable worsening of the recession is baked in the cake for 2009. But will fiscal and monetary stimulus prevent worst case scenarios? I certainly hope so, as I have laid out in recent posts. But,…

Recently I wrote a post which claimed that Keynesian stimulus is what we need in the global economy right now. These ideas are considered heresy in Austrian School circles because trying to stimulate the economy out of recession only puts…

The Tribune was simply over-leveraged with a balance sheet made for this age of debt, leverage and bubbles. Note the lack of equity and the enormous debt load. Why would anyone, especially someone as savvy as Sam Zell load up a declining…

My very first post on this blog was in March and it was titled "The Economy Is Definitely In Recession." Back then, this seemed like a stretch for a lot of people, but today the National Bureau of Economic Research (NBER), which makes the…

The Institute for Supply Management (ISM) released its monthly report on Manufacturing, the ISM Manufacturing Report on Business®. It showed a reading of 36.2 down from 38.9. Where 50 is the demarcation line between growth and recession,…

Recently, deficit hawks have been pushing a nefarious line of argument that I need to debunk right here and right now. The line goes as follows: we need to spend government monies now to get the economy back on its feet. In a couple of…

Robert Hall, the head of the National Bureau of Economic Research (NBER), which is the official arbiter of recession in the United States, has said the evidence is now "conclusive" that the U.S. is in recession. For me, that's pretty much…