Or, “What would Rand Paul Ask at the Hearings of the Senate Un-American Activities Committee?”. From AP:
“What I don’t like from the president’s administration is this sort of, ‘I’ll put my boot heel on the throat of BP,'” Paul said in an interview with ABC’s “Good Morning America.” “I think that sounds really un-American in his criticism of business.”
Or, at least the G-20 at your fingertips.
Eswar Prasad (Cornell and Brookings) and Karim Foda have put together a new website, “TIGER: Tracking Indexes for the Global Economic Recovery”.
In collaboration with the Financial Times (FT), Eswar Prasad and Karim Foda of Brookings have developed a set of composite indexes which track the global economic recovery. The Financial Times has produced the Tracking Indexes for the Global Economic Recovery (TIGER) interactive map, which appears on the FT Web site.
The BEA today released value added and output series by industry through 2009. A few highlights: (1) the share of the private sector value added in total GDP has declined by 1.34 percentage points since 2000; (2) manufacturing’s share of GDP continues to decline in nominal terms; and (3) the share of finance and insurance barely rose in 2009.
My latest research paper reviews efforts to supplement the declarations by the National Bureau of Economic Research as to the beginning and ending of economic recessions with determinations made by purely mechanical algorithms.
The euro has been depreciating against the dollar over the past few weeks. The implications of this development for the US depend critically on (1) the extent of the depreciation, (2) the duration, and (3) the source of the depreciation. (See Jim’s post for other links.)
The San Diego Daily Transcript invited me to join a group of economists in discussing prospects for the local economy. You can watch the discussion in a series of videos:
Since mid-April, the euro has depreciated 10% against the U.S. dollar and European stocks have lost 17% of their value. But markets aren’t acting as though the problems will be confined to Europe.
That’s the title from today’s top entry on the NOAA website. And if that’s not interesting enough, the subtitle reads: “Also Warmest January-April”
(With apologies to Mussorgsky.) Here’s the first:
Figure 1: MODIS/Terra image/Sky Truth, May 10, 2010.
University of Maryland Professor Boragan Aruoba (of the Aruoba-Diebold-Scotti Business Conditions Index fame) has an interesting new paper that offers another perspective on the challenges facing Europe.