Cries for more stimulus ring loudly in China because Chinese industrial output slowed to 6.9%. That is a number that any country in the world would be more than pleased with, but China's target is 7.5%. Why 7.5%? In fact, why should there be any targets at all? The economy is not a car that can be steered by bureaucrats to perfection. Show More Summary
The key economic report this week is August housing starts on Thursday.For manufacturing, the August Industrial Production and Capacity Utilization report, and the September NY Fed (Empire State) and Philly Fed manufacturing surveys, will be released this week. Show More Summary
In the past, Stephen Williamson has attracted some fierce criticism for his views on the relationship between money and interest rates, specifically some posts that seemed to deny the importance of the “liquidity effect.” Nick Rowe and others criticized Williamson for seeming to suggest that a Fed policy of lowering interest rates would actually lower […]
Dietz Vollrath: Taxes and Growth, The Growth Economics blog: William Gale and Andy Samwick have a new Brookings paper out on the relationship of tax rates and economic growth in the U.S.... Short answer, there is no relationship. They...
Over at [Equitable Growth](http://EquitableGrowth.org)--[The Equitablog](http://equitablegrowth.org/blog) Nick Bunker: Weekend reading - Washington Center for Equitable Growth Morning Must-Read: MaxSpeak: In Defense of Social Insurance...Show More Summary
Noah Smith: Austrian Economists, 9/11 Truthers, and Brain Worms: "In the film Star Trek II: The Wrath of Khan... >...the super-genius villain puts alien worms into people’s brains in order to subvert them to his demented cause. I think Khan could have been an Austrian economist. Show More Summary
From Sewell Tyng: The Campaign of the Marne: >Despite minor frictions, the German armies at last arrived upon the positions which they were destined to hold without substantial change until the spring of 1918; but Von Moltke had still to drain the dregs of his cup of humiliation, for this day was his last as Chief of the German General Staff. Show More Summary
Keith Humphreys: Weekend Film Recommendation: The Spy Who Came in From the Cold: >>What the hell do you think spies are? Moral philosophers measuring everything they do against the word of God or Karl Marx? They’re not! They’re justShow More Summary
Noah Smith puts it well: most of our arguments are over things like Obamacare, or antipoverty programs, or financial regulation-- issues on which reasonable people can and do disagree. If you’re uncivil in this sort of situation -- if...Show More Summary
This is a response to Brad DeLong's and David Glasner's good posts. They are good posts because they forced me to think. This is what I think. [I really ought to spend more time on this post, but I am...
This is an unofficial list of Problem Banks compiled only from public sources.Here is the unofficial problem bank list for Sept 12, 2014. Changes and comments from surferdude808: Two mergers lowered the Unofficial Problem Bank List to 435 institutions with assets of $137.5 billion. Show More Summary
Investors will watch to see if strong retail sales and consumer sentiment numbers will spark a change in the Fed's monetary policy. Also, two Mark Rothko paintings could fetch up to tens of millions together at auction this fall. Karina Mitchell reports on the day's top MoneyWatch headlines.
Six years after the U.S. financial system was brought to its knees, the Federal Reserve meets to examine the actions it's taken to stabilize the economy and decide what to do next. Jill Schlesinger has that and more in her look at the business week ahead.
There are still lots of bargain homes across the country, but if a property costs well below average, watch out
(September 13, 2014 07:01 AM, by Alberto Mingardi) A sloppy government bureaucracy isn't a very admirable thing. But it may look better, if you compare it with an efficient government bureaucracy. Have a look to this post by Michael S. Greve, who blogs on am incident involving him... (0 COMMENTS)
At its peak in 2006, the housing bubble had caused nationwide house prices to rise more than 70 percent above their trend level. This run-up occurred in spite of the fact that rents had not outpaced inflation and there was a record nationwide vacancy rate. The dangers of the bubble also should have been clear. Show More Summary
A NYT article reporting on the economic and political situation in Michigan noted that in spite of the improvement in its economy since the recession, manufacturing employment is still far below prior peaks. It old readers: "Manufacturing...Show More Summary
You cannot make stuff like this up. New Jersey, in its attempt to diffuse a pension fund scandal that implicates Chris Christie (it roused him to respond in public), looks to have committed the classic crisis management blunder of a cover-up worse than the original crime.
Scotland Vote Too Close to CallHere's some good news for those rooting for Scottish independence:In spite of a massive fearmongering campaign by both Labour and Tories in the UK, Scots Independence Race Tightens Six Days Before Ballot. Show More Summary
Yves here. While the impetus for Steve Keen's post is the ECB's latest pretense that it can and is doing something to combat deflation, he provides an excellent and short debunking of two widespread misconceptions about money and banking. The first myth is the money multiplier and the second is that reserves are the basis for bank lending.