savings

Marshall Auerback here with a commentary on Robert Rubin’s recent Newsweek article on getting the economy back on track. As we all know, during his tenure as Treasury Secretary, Robert Rubin laid the groundwork for today's crisis through…

The New York Times points out that zero percent interest rates are not designed for savers. They are a tax on savers, especially the elderly living on a fixed income. Millions of Americans are paying a high price for a safe place to put…

The following is a re-print of the latest monthly newsletter from Niels Jensen of Absolute Return Partners, published with the express permission of the author. Visit www.arpllp.com to learn more about Absolute Return Partners.  You…

This is an important question which Brad DeLong asks (Hat tip Mark Thoma). Here’s the logic: Right now, if you ask the decisive members of congress—by which I mean the Blue Dog Democrats in the House, or the most conservative Democrats…

When I read Ed’s recent piece “Japan: stimulus without reform leads to a policy cul de sac,” I couldn’t help but think he is wrong about Japan. Supporting aggregate demand The problem is taxes. In Japan, taxes are too high relative to the…

The data released this morning by the U.S. Department of Commerce’s Bureau of Economic Analysis on personal income somehow managed to show weakness in income and consumption as well as savings.  I see this as proof that Americans are…

You have probably heard a lot of chatter from the media about a newfound thrift amongst American consumers. The general take is that Americans, faced with lost incomes and wealth and burdened by record levels of debt, have moved away…

The Absolute Return Letter, October 2009 A Country for Old Men and a Bit of Samba The Man Card “Excuse me Sir, can I see your Man Card?” The stone-faced look of the security guard at Dallas Fort Worth Airport gave nothing away and,…

Marshall Auerback here. This is a cross-post from an article I wrote at the finance site New Deal 2.0, a one-stop-shop for current news, sharp analysis and potential solutions of the country’s fiscal crisis. We’ve said it before and…

I want to highlight the good work of the BBC again. The last time I featured one of the BBC documentaries, it was about (conspicuous) consumption in China and the push to get Chinese citizens to spend more in order to support the economy. …