2010 April

Robert Mundell on the Financial Crisis

Robert Mundell is not widely known outside economic circles but is arguably one the greatest economist of the second half of the twentieth century. Quite simply he’s gotten everything of any economic importance over the last 40 years right. More importantly, he got things right in advance so that policy makers could do something rather .. read more

China Moving to Convertible Yuan

While our politicians pander to the economically ignorant with protectionist threats, the Chinese just slowly go about their business of eating our lunch by thinking long term. Chuck Schumer thinks he wants the Chinese to raise the value of the Yuan (renminbi) but he should be careful what he wishes for. The Chinese are moving .. read more

FOMC Statement

The FOMC statement in full: Information received since the Federal Open Market Committee met in March suggests that economic activity has continued to strengthen and that the labor market is beginning to improve. Growth in household spending has picked up recently but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight .. read more

On April 28th, 2010, posted in: Economy by Tags: 1 Comment

Public Employee of the Year Awards

I don’t know whether to laugh or cry:

Good News From Housing

Casey Mulligan has a good post concerning the cost of materials for building new homes: Although the Case-Shiller home price index for January and February was slightly lower than it was at the end of 2009, the message was somewhat different from a government report last week on the producer price index for single-unit residential .. read more

On April 28th, 2010, posted in: Economy by Tags: , , 1 Comment

Dividend Slump Ending

Companies are using the big rise in profits for dividends. That’s good news for shareholders but maybe not so good news for the unemployed. If companies felt they had a good use for those funds, they’d retain them and maybe hire someone or buy a piece of equipment. Instead they are paying out dividends to shareholders: April .. read more

A Monetary Lecture From Steve Forbes

Steve Forbes with some common sense about money: Alas, the notion arose in the late 19th and early 20th centuries that if wise men could have “flexibility” in issuing money without the constraints of its being tied to the supply of gold, or even silver, they could rid us of financial panics, the business cycle .. read more

On April 27th, 2010, posted in: Economy by Tags: 1 Comment

Ancient Tools Revealed by Melting Ice

This is interesting: Warming temperatures are melting patches of ice that have been in place for thousands of years in the mountains of the Canadian High Arctic and in turn revealing a treasure trove of ancient hunting tools. Ice patches result from layers of annual snow that, until recently, remained frozen all year. As Earth’s .. read more