Recession Archive

The Stockman’s big swinging whip

The Man from Snowy River By Banjo Paterson So Clancy rode to wheel them — he was racing on the wing Where the best and boldest riders take their place, And he raced his stock-horse past them, and he made the ranges ring With the stockwhip, as he met them face to ...Read More

The President’s Fairness Fiction

President Obama’s ‘Fairness’ Vision Would Bankrupt Nation April 11 (IBD) — Economy: In two recent high-profile policy speeches, President Obama has struggled to make a case for his big-government, high-tax vision for the economy. But his comments reveal just how bankrupt his vision is. Last I read, he’s actually reduced govt head ...Read More

Council of Foreign Relations on recent recovery – looks like this recovery is the worst ever!

I may have mentioned that for the size govt we have we are grossly over taxed? ;) Real GDP is growing, but weakly compared with the postwar average recovery. The recovery from the 1980 recession was even weaker at this stage, but that reflected a double-dip recession in 1981. The economy would ...Read More

Comments on Senator Sanders article on the Fed

Dear Senator Sanders, Thank you for your attention to this matter! My comments appear below: The Veil of Secrecy at the Fed Has Been Lifted, Now It’s Time for Change By Senator Bernie Sanders November 2 (Huffington Post) — As a result of the greed, recklessness, and illegal behavior on Wall Street, ...Read More

high unemployment levels in the U.S. caused consumers to drink less beer

This is one serious recession! AB InBev Volume Misses Estimates as U.S. Consumption Drops By Clementine Fletcher May 4 (Bloomberg) — Anheuser-Busch InBev NV , the world’s biggest brewer, reported first-quarter volume that missed estimates as high unemployment levels in the U.S. caused consumers to drink less beer. ...Read More

The Wall of Shame (cont.)

Today is year and in Japan, which means the last few days could be mainly quarter end and year end maneuvers, with a high probability of ‘buy the rumor sell the news’ types of unwinds coming up. This would include the anticipation of another 200,000 new private sector jobs to be reported ...Read More

Welcome to the 7th US depression, Mr. bond market

Looks to me like the lack of noises out of Japan means there won’t be a sufficient fiscal response to restore demand. If anything, the talk is about how to pay for the rebuilding, with a consumption tax at the top of the list. That means they aren’t going to inflate. More ...Read More

more on the man of the year

[Skip to the end] More on the Bernanke testimony: Shortly after the failure of Lehman Brothers, I was in Brazil at an international meeting, and I had a meeting there with bankers, and I asked them how the Brazilian economy was doing. And they said well, it had been doing fine, but ...Read More

Ritzholtz Blog

[Skip to the end] Mosler: PAYROLL TAX HOLIDAY Warren Mosler, economist, perturbed by the misunderstanding of monetary policy by the current and past administrations, is running for President in 2012. He has been speaking at the Tea Parties, explaining to taxpayers that Washington is either at best ignorant of economic policy or ...Read More

Progress!

[Skip to the end] Deficits saved the world By Paul Krugman July 15 (NYT) — Jan Hatzius of Goldman Sachs has a new note (no link) responding to claims that government support for the economy is postponing the necessary adjustment. He doesn’t think much of that argument; neither do I. But one ...Read More