New Home Sales at 369,000 SAAR in December
The Census Bureau reports New Home...les in December were at a seasonally adjusted annual rate (SAAR) of 369 thousand. This was down from a revised...
Category : Opinions Uncensored
Brad DeLong and Theories of the moocher class
Brad DeLong notices the vagaries of the theories of the mooschers class: Now politicians like Paul Ryan who used to say things like: Right now...
U.K. Economy Shrinks Again
From the WSJ: U.K. Economy Shrinks The U.K. economy shrank in the final quarter of 2012, leaving Britain at risk of entering its third recession...
The Relationship Between Government Spending and Wealth Among Rich Countries
It’s widely known that governments in rich countries spend much more than governments in poor countries, even as a share of GDP. There are a...
Koo: The Balance Sheet Recession is NOT Over….
There’s been a lot of talk in recent months about the end of the de-leveraging cycle in the USA. Richard Koo, who coined the term...
AIG bailout not a free lunch
James Tilson and Robert E. Prasch follow the money at New Economic Perspectives regarding the AIG bailout and a more accurate sense of costs. “If...
The “Extra-Value” Horse-Burger
I don't know about you, but I will no longer buy plastic tubes (that you cannot...ee through)...upposedly containing ground chuck. I tried tubes of beef...
About that Global Secular Bear Market
There was a bit of pushback in my recent article regarding the end of the recession in the USA. I’ve been very vocal about the...
Friday: New Home Sales
First, from Michelle Meyer at Merrill Lynch: Tale of the missing homes One of the key developments for the housing market in 2012 was a...
Italian PM Under Fire; Italy’s 3rd Largest Bank Hid Derivative Losses: ECB Says “Matter for the Italian Authorities” (To Sweep Under the Rug)
When Mario Draghi (now ECB President), had...versight...f the Italian bank system as Bank...f Italy Governor, the Italian bank Monte dei Paschi di Siena (Italy's third...