Monthly Archive:: August 2009

Levy

[Skip to the end] http://www.levy.org/pubs/rpt_19_3.pdf Levy Recap ...Read More

Chicago Purchasing Managers’ Index Increased to 50 in August

[Skip to the end] Just enough to keep additional fiscal measures off the table while unemployment remains around 10%. Chicago Purchasing Managers’ Index Increased to 50 in August By Courtney Schlisserman Aug. 31 (Bloomberg) — A measure of U.S. business activity rose more than forecast in August, adding to signs that the ...Read More

India’s Growth Accelerates for First Time Since 2007

[Skip to the end] India the next engine of growth where deficit spending remained high and the recession was largely averted? All they need to do is let themselves become a large net importer. India’s Growth Accelerates for First Time Since 2007 By Cherian Thomas Aug. 31 (Bloomberg) — India’s economic growth ...Read More

In case you thought business economists understand the monetary system

[Skip to the end] Not to mention these CNBC headlines today: No Need for 2nd US Fiscal Stimulus Package: Survey August 31 (CNBC) — The U.S. economy does not need a second fiscal stimulus package, instead the government should cut spending over the next two years, according to a survey of business ...Read More

NYC 2006 acquisition of Stuyvesant Town

[Skip to the end] Thanks, looks like we could use a full payroll tax holiday and a lot of per capita revenue sharing ASAP. Pretty much as expected, GDP muddling through around flat or modestly positive, supported by the automatic stabilizers and a bit of proactive fiscal support dribbling in, but not ...Read More

Japan

[Skip to the end] Nothing hopeful here: The DPJ won power for the first time yesterday on a pledge to support households battered by two decades of economic stagnation. Hatoyama has also committed to avoid increasing government bond issuance, leaving his main initiative as a redistribution of the former Liberal Democratic Party ...Read More

St. Louis Fed Pres Bullard

[Skip to the end] Bullard is indicating rates should be left low until the Fed’s balance sheet is reduced. This would mean longer rates would likely go higher before the Fed allows short rates to rise. (It also shows he’s very confused on monetary operations but that’s a different issue.) Fed officials ...Read More

U.K.

[Skip to the end] Waiting to see if Brown gets any credit for his fiscal policies which in fact are responsible for stopping the slide. As in the US, monetary policy has been contractionary with lower rates hurting demand from savers and borrowers gaining little or nothing, and lenders replenishing lost reserves. ...Read More

FDIC

[Skip to the end] The FDIC gets the funds from the treasury as needed and then tries to tax the banks to pay it back. All that does is raise the marginal cost of credit via a transfer to the govt. Which reduces aggregate demand. Just one more example of a confused ...Read More

lodging

[Skip to the end] This doesn’t look good: This does not look good US RevPAR declined 16.7% last week versus a year ago, the largest decline since early July Occupancy fell 7.2% to 60.4% and average room rates fell 10.2% to $95.70 Higher quality and urban segments continue to lead the decline ...Read More