Saturday Morning at The Confluence

Good morning everyone! What are you reading this morning? I recently started the new book by John Perkins, Hoodwinked: An Economic Hit Man Reveals Why the World Financial Markets Imploded–and What We Need to Do to Remake Them.
In the news, I’m half-heartedly following the health care bill’s progress and wondering what is going [...]

Big Mistakes … even bigger Consequences

I just can’t help being smug when it comes to watching recent poll numbers or reading headlines. Economics is at the heart of every problem.  If folks aren’t getting their basic needs met, nothing else matters.  The Ragin’ Cajun and Big Dawg got it right when taking the White House back from a Bush.  You [...]

Aren’t there supposed to be briefings on these kinds of things?

The level of mishap and perhaps malfeasance on economic policy these days has me polishing off my French, Spanish, and reconnecting with my mother-in-law to see how much Japanese I remember. I’m  even considering putting my CV into Farsi. Perhaps, I should be learning Mandarin.  Anyway, Professor Mark Thoma, University of Oregon points to how [...]

Why not just call it Wall Street’s Petty Cash fund?

Ever worked for one of those places that has a petty cash fund that management just can’t seem to keep it’s fingers out of?  You know, the one that’s supposed to buy a few various sundries like postage stamps and turns into a sushi and martini account?  Well, check this out out the Financial Times.  [...]

Monday Morning News and Views

Good Morning Conflucians! I’m a little bit pressed for time this morning, because I have to get out of here earlier than usual to make copies of an exam for my class this afternoon. Nevertheless, I have a few stories to share with you before I rush out of here. You can [...]

Friday Morning News and Views: Friday the 13th Edition

Good Morning Conflucians! It’s a gloomy Friday the 13th here in the Boston area. I guess we’ll be getting hit with the tail end of Hurricane Ida over the next couple of days. I’m feeling a bit lethargic this morning, but I’ll try to locate a few interesting news links nonetheless. [...]

Enforce the Sherman Anti-trust Act and Regulate the Shadow Banks

I’ve said this before, but it bears repeating.  Monopoly power and rent-seeking behavior are anathema to market systems. Politics should stay out of economic decisions and government should provide the framework that makes the market honest, transparent, and open to all interests.  Republican and Democratic pols need to go back to Principles of Microeconomics classes [...]

On a New Form of Indentured Servitude

There’s so much going on in the USA that warrants attention these days that it’s hard to know where to start.  But, since I’m an economist I’m going to start here.
“There are families not eating at the end of the month,” said Stephen Quinn, executive vice president and chief marketing officer at Wal-Mart Stores, and [...]

Month 22 of Job Losses and No Relief in Sight

The Unemployment rate hit a dizzying 10.2% today.  It’s basically the highest rate we’ve had since 1983.  The unemployment rate that includes discouraged workers and workers at part time jobs that want full time instead hit 17.5%   Needless to say, this is NOT encouraging at any level.  The one thing I saw that is possibly [...]

On the other hand … or is it Hoof?

In what is undoubtedly good news, the US Bureau of Economic Analysis (Dept. of Commerce) has announced that  REAL GDP grew by approximately 3.5% in the third quarter of 2009.  That is up from the second quarter growth of .7%.  It appears that the economy may be rebounding from the so-called “Great Recession”.  However, as [...]