2008 November

A Day Late and a Dollar Short

U.S. Rethinks Roles of Fannie, Freddie Isn’t this something we should have addressed before the crisis? Indeed, weren’t there people trying to get changes made at Fannie and Freddie for years? Now, government wants to rethink their roles? Rethink them how? To figure out how best these institutions can benefit politicians? Or the banks who .. read more

On November 30th, 2008, posted in: Economy by Tags: ,

The Green New Deal

From Tom Smith at The Right Coast: It looks like we are pouring a lot of money we don’t have into technologies that very well may not work to solve a problem we are not sure we have. It is a mystery to me how investing borrowed dollars in ineffcient sources of energy could be .. read more

On November 30th, 2008, posted in: Economy by

Don Boudreaux’ Thanksgiving Wish

Don Boudreaux’ column from the Pittsburgh Tribune Review: The blessing for which we should be most grateful is that we still live in a society in which markets remain the chief means of directing economic activity. Let us give thanks that, despite the many hurdles put in the way of people who make their way .. read more

On November 28th, 2008, posted in: Economy by Tags: 1 Comment

Save the Economy and the Planet

From a NYT editorial today: Success is not guaranteed. Last year, a far more modest climate-change bill fell well short of a simple majority in the Senate. At least on the surface, it seems counterintuitive to impose new regulations (and, in the short term anyway, higher energy costs) on a struggling economy. Mr. Obama will .. read more

On November 27th, 2008, posted in: Economy by Tags: , ,

Obama Seeks Fresh Thinking – WSJ Article

The headline on this story in the WSJ is, “Obama Seeking Fresh Thinking”. “Sometimes policy making in Washington can become a little bit too ingrown, a little bit too insular,” Mr. Obama told reporters in Chicago. “The walls of the echo chamber can sometimes keep out fresh voices and new ways of thinking.” The story .. read more

On November 26th, 2008, posted in: Economy by Tags: ,

Economic Report: Personal Income/Spending

According to the Bureau of Economic Analysis and its monthly report on Personal Income/Spending, in the past few months, US consumers have cut back on big-ticket purchases and expenses and started saving for a change. Nominal consumer spending decreased 1.0% for the month of October, the largets decline since September 2001, after a 0.3% decline in last month. .. read more

Obama and Farm Subsidies

At his news conference yesterday to introduce Peter Orszag as his budget director, President elect Obama singled out some waste in farm subsidies as an example of the kind of government waste he wants Orszag to find and eliminate: Obama cited a GAO report out yesterday that said from 2003 to 2006, “millionaire farmers” got .. read more

Big Dig Derivatives Disaster

The Big Dig continues to wreak havoc with the Mass. state budget (via the WSJ): The financial crisis is causing a big row in Massachusetts over tolls. The Massachusetts Turnpike Authority, already the object of local scorn for cost overruns incurred in the infamous Big Dig road project, faced further public wrath in recent weeks .. read more

On November 26th, 2008, posted in: Economy by Tags: , , ,