Monthly Archives: July 2013
Previewing the Bad News That’s Likely to Complicate the Debt Ceiling Battle
The gorilla in the room may sleep soundly for the rest of July and August, but expect a foul temper when he wakes up in September. At that time, Congress once again haggles over our debt ceiling. Treasury Secretary Jack … Continue reading
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Tagged Budget Control Act, CBO, Congressional Budget Office, debt ceiling, Jack Lew, long-term budget outlook, Medicare, Social Security
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Now That Detroit’s Gone Bust, Is Your City Next?
Detroit’s bankruptcy filing is one depressing read. Poverty, crime, blight – you name the malady and there’s plenty of data to back it up. And unfortunately, Detroit’s not alone. You may be wondering which city hits the wall next.
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Tagged Birmingham, Boston, Buffalo, Camden, Census Bureau, Cincinnati, Cleveland, Dayton, Detroit, Detroit bankruptcy, Flint, Gary, Minneapolis, Motor City, New Orleans, Newark, Philadelphia, Ponzi Scheme, population loss, Saint Louis, Scranton, Washington D.C., Youngstown
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Stock Prices Are Outrunning Corporate Profits: When Has This Happened Before?
In a recent article titled “Step Right Up and Test Your Central Banking Skills against the Scariest Economy of All,” I encouraged readers to: [Apply] your economic and policy beliefs to early 1928 conditions, and then [ask] how your decisions … Continue reading
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Tagged Ben Bernanke, Benjamin Strong, corporate profits, P/E multiples, wealth effects
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Preparing for Bernanke’s Speech with a Short “Who Said It?” Quiz
In case you missed the late announcement, Ben Bernanke is scheduled to deliver a speech on Wednesday afternoon, covering the Federal Reserve Bank’s track record through its 100 year history. Presumably, he’ll also spend time defending current policies, in both prepared remarks and … Continue reading
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Tagged Ben Bernanke, Federal Reserve, Great Moderation, Great Moderation speech, National Bureau of Economic Research, Paul Volcker, William McChesney Martin
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Technical Notes for ‘Test Your Central Banking Skills’
(Here’s the article that goes with this appendix.)
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Step Right Up and Test Your Central Banking Skills against the Scariest Economy of All
I offer a chance to test yourself as King of the World. By that, I mean top dog at the Federal Reserve Bank. The test is based on two scenarios, one describing our circumstances today and I’ll explain the second … Continue reading
Some Bloggers Wrote About Public Spending on the Public Holiday
Here are a few links from my catch-up reading this morning, from bloggers who were more productive than I was on Independence Day. You’ll see that the common theme is public spending.
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Tagged ADHD, Davy Crockett, Great Mall of China, Horatio Bunce, James Hamilton, off-balance sheet liabilities, Ritalin
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