The Road to Nowhere?

Today’s update on weekly jobless claims doesn’t tell us much. New filings for unemployment benefits inched lower last week by 1,000 to a seasonally adjusted 428,000, but that’s effectively no change. As a result, there’s still plenty of mystery about what the crucial July 8 employment report for June will reveal. There was some hope […]

Why Can’t Brazil Grow as Fast as China?

China’s recurring 10 percent annual average growth rate has won it predominantly accolades (and not a little envy); making it the global economic powerhouse it is today. But as Brazil nears these numbers – growing 7.5 percent in 2010 — it is the naysayers and doubters that have come to the fore. Even the government […]

‘Barack Obama Fail Department’

This is in the mid-range of the Brad DeLong Shrill-O-Meter, but I think it’s safe to conclude that he’s not happy with the president’s remarks in yesterday’s press conference: This Is Very Bad: Barack Obama Fail Department, by Brad DeLong: Can’t anybody in the White House play this game? Barack Obama: Transcripts: There are a […]

‘Extend and Pretend’ Continues in the Euro Zone

Markets are celebrating the triumph of an anti-labor, pro-capital agenda. But is social unrest the consequence? The Europeans genuinely must genuinely believe that they can get blood out of a stone. Or perhaps resort to a modern day equivalent of turning lead into gold. There’s no other reason to explain the euphoria now prevalent in […]

First, Blame the Lenders

I’ve noticed something intriguing about the debate regarding the Greek default/restructuring/bailout: There is a familiar odor to the “Blame the profligate Greeks” meme now circulating. It is little more than a brilliant marketing ploy. This distraction ignores the simple reality that lending to insolvent people, institutions and countries is first and foremost the fault of […]

The Lost Jobs Opportunity

This kind of chart has always bothered me: It is not the content or format that worries me. And, to be sure, the magnitude of the labor market damage wrought by the recession weighs heavily on my mind. Moreover, the length of time to recovery seems immense. And, on top of both of these, we […]

Pink Turkey Readings

The Turkey is not pink; the Turkey readings are pink:) The first pink Turkey reading is from the venerable Financial Times. They published a special Turkey report yesterday. The other pink Turkey reading is Spain’s El Mundo: I had a phone interview with their Turkey correspondent last week, and the piece, including my comments, appeared […]

Calvinball and Other Links

I had forgotten to link Mr. Krugman’s (PK) post on Raghuram Rajan’s ‘Money Magic’. It is here. On top of that, he has taken a pot-shot at the latest recommendation of the Bank for International Settlements (BIS) recommendation that economic growth rate needed to slow. Well, I doubt if they make the point that rates […]

Is the Summer of 2011 Following a Different Script?

History isn’t repeating itself this summer. That may change, but for now the economy seems to be righting itself. Or perhaps it’s more accurate to say that the economy is finding some support. Granted, it’s tenuous and precarious, but it’s still better than the alternative. It was a different story a year ago, when the […]

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