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22

Oct

Economists say The Only Way to Save the Economy: Break Up the Giant, Insolvent Banks

stfuconservatives:

The following top economists and financial experts believe that the economy cannot recover unless the big, insolvent banks are broken up in an orderly fashion:

  • Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W. Bush, R. Glenn Hubbard
  • The leading monetary economist and co-author with Milton Friedman of the leading treatise on the Great Depression, Anna Schwartz
  • Economics professor and senior regulator during the S & L crisis, William K. Black
  • Professor of entrepreneurship and finance at the Chicago Booth School of Business, Luigi Zingales

Pshhh what do a bunch of widely respective economists know about the economy? What they’re really saying is that we should cut taxes and environmental regulations! /sarcasm

-Joe

Congressman Welch explains the problem with the financial sector in one short quote.
The Volcker Rule, Once Simple, Now Boggles - The New York Times - October 21, 2011

Congressman Welch explains the problem with the financial sector in one short quote.

The Volcker Rule, Once Simple, Now Boggles - The New York Times - October 21, 2011

05

Aug

Stock Market Crash: Think 1938, Not 2008

This is from a great piece by Joshua M. Brown at CSMonitor.com.

Chart

It’s too early to call a double dip recession as being imminent or inevitable, but it’s never too early to mentally prepare for one.

My advice is to stop thinking 2008 and instead start thinking 1938 or 1953 or 1969 or 1981, you get the drift. Not every slowdown is a crash and we are in a secular bear market after all.

24

Jun

aliceandlife:

Oh, hello global financial crisis. I didn’t see you there behind all billions I was busy making.

aliceandlife:

Oh, hello global financial crisis. I didn’t see you there behind all billions I was busy making.

08

May

The 2001 recession, which was very mild, took much longer to reach maximum job loss and full job recovery than previous recessions.
The 2007 recession was much more severe than all others in terms of job loss and took the same number of months, 25, to reach maximum job loss.
Questions:
Will post-2000 recessions take longer to reach maximum job loss and full recovery?
How long will it take for the 2007 recession to gain back the jobs lost (about 7 million at this point)?
Chart courtesy of CalculatedRiskBlog.com.
  • The 2001 recession, which was very mild, took much longer to reach maximum job loss and full job recovery than previous recessions.
  • The 2007 recession was much more severe than all others in terms of job loss and took the same number of months, 25, to reach maximum job loss.

Questions:

  • Will post-2000 recessions take longer to reach maximum job loss and full recovery?
  • How long will it take for the 2007 recession to gain back the jobs lost (about 7 million at this point)?

Chart courtesy of CalculatedRiskBlog.com.