I was listening to Bloomberg radio this morning on the way to work.  They were a bunch of happy folks there.  The markets are up, and some earning reports are up.  Then, they came to the consumer confidence numbers, which came in worse than the consensus forecast.  Nothing here to disturb the Bloomberg team.  . . . → Read More: Happiness can be Endogenous

Previously published on NewGeography.com on 6/19/2010

The most fanatical Keynesians are losing their composure. Brad DeLong, a prominent Berkeley economist and Keynesian, is virtually yelling that “We Need Bigger Deficits Now!”, emphasis his. Paul Krugman does DeLong one better, calling proponents of fiscal responsibility madmen.

They are following the gospel of John Maynard Keynes, . . . → Read More: Stimulus, Spending and Animal Spirits: How to Grow the Economy

Previously published on NewGeography.com on 7/11/2010

A year ago we were hearing all about green shoots. Analysts claimed to find them everywhere. Today, we never see the term. In fact, there seems to be a growing malaise. By the end of June the first quarter’s Gross Domestic Product (GDP) estimate was revised downward a . . . → Read More: Economics: Green Shoots & Immigration

The California Builders Association announced today that California’s new home sales fell 46 percent in May over the previous year.  This is a big decline from an already weak market.  The question, of course, is what caused the decline.

The easy answer is the expiration of federal incentives on April 30th, but that is . . . → Read More: Understanding the Decline in New Home Sales

DJ is one of my dearest friends.  He was one of the first people to befriend me when I moved to a new city as a high-school junior.  He was there for the debriefs after high-school dates, and I was there for his.  He was there for an awful lot of firsts, none of . . . → Read More: It’s Not All About Wages