As highlighted in Figure 1, estimates of GDP regarding 2011Q1 growth differ widely.
Saudi oil production and the Libyan conflict
One of the key questions in assessing the effect of the Libyan conflict on world oil prices was the extent to which an increase in Saudi production would offset some of the lost output from Libya. Now we know the answer, and it’s not reassuring.
Trilemma Indices Updated
Chinese Inflation and the Impact on the US Economy
The portents from China, on the price front, are ominous. Inflation is rising, as shown in Figure 1:
Heritage Breaks Internet Silence on Its Ryan Plan Simulations (w/o a single number!)
Or, a “Forensic Analysis for the Heritage CDA results”
The Heritage Foundation Center for Data Analysis (CDA) simulation of the Ryan plan, on behalf of the House Committee, has come in for some criticism. Commentary has been provided by Paul Krugman, and perhaps most comprehensively by Macroeconomic Advisers. (My comments are here: [1] [2] [3]). Yesterday, the Heritage Foundation CDA’s director, William Beach, posted a rebuttal to Krugman’s critique. While Big Picture posted an excellent rejoinder,
I want to deal with one particular aspect of Mr. Beach’s open letter. Consider this excerpt.
Keystone Gulf Coast Expansion Project
If President Obama is looking for ideas that would build American infrastructure, create jobs, and reduce the budget deficit, here’s an option to consider.
Brent-WTI spread
The puzzling differential between the price of oil in different markets seems to be persisting.
Dispatches (XIII): Gov. Walker: “It doesn’t save any [money]”
That is Governor Walker’s answer to the question of how much money rescinding collective bargaining for public unions saves the state government. From the Capital Times:
More on the Characteristics of the Heritage Foundation CDA Analysis of the Ryan Plan
Interest rate risk and the Fed
Is borrowing short and lending long a risky strategy for the Fed?