Tag Archives: interest rate
Bringing About Our Own Special Misery
Consumer confidence laid a rotten egg in October. The Conference Board’s index of consumer sentiment was reported Wednesday at 39.8…its lowest reading since March of 2009. To put this in perspective, during a robust economy, consumer confidence readings are at … Continue reading
Lurching Back into the Vicious Cycle of Recession
Last Friday the Commerce Department announced that private sector wages and government benefits both fell in August. The combination of these two undesirable data points resulted in the first monthly decline in overall personal income since October 2009. What this … Continue reading
On Scientific Management of the Economy and Going for Broke
Federal Reserve Chairman Ben Bernanke should never have left Princeton. He’s much better suited for a lifetime of pontification than real work. Not that chairing the Federal Reserve is real work. Yet, even so, at least as a professor his … Continue reading
The Revolt Against Absurdity
Credit default swaps insuring Greek debt rose in price yesterday to cover a 98 percent chance there will be a Greek default in the next five years. But perhaps it will happen sooner. Greece is playing games with its austerity … Continue reading
