From NYT, a quote of researcher Jason Box:
Petermann [glacier] is a sleeping giant that is slowly awakening. Removing flow resistance leads to flow acceleration… The coincidence of this area loss and a 30 square kilometer loss in 2008 with abnormal warmth this year, the setting of increasing sea surface temperatures and sea ice decline are all part of a climate warming pattern.
The employment situation July release indicated a decrease in overall payroll employment. Does this outcome indicate a sputtering* economy
For a while, contagion had dropped off the (research) map. But it’s now back (thanks to Greece et al!), in both research and policy arenas. A new symposium published in Pacific Economic Review covers the topic.
We’re pleased to feature another post from Steven Kopits of Douglas-Westwood, this time on lessons to be learned from the BP oil disaster.
From Macroeconomic Advisers “The impact of sunset of tax cuts on GDP, employment, inflation & interest rates”, released today:
Recall the 2001 and 2003 tax cuts were written to expire, for the most part, in FY2011. I wrote in February that one way to start fixing the Nation’s finances is to let the EGTRRA and JGTRRA expire as they were originally designed to. Via EconomistMom comes Bill Gale’s additional reasons why we should, despite the lackluster recovery [0] (more on that below).
The latest economic data have surely warranted a downward revision in the Federal Reserve’s assessment of near-term economic performance. It therefore might be a good time to review the steps the Fed could take if it wishes to provide further economic stimulus.
The 2010Q2 advance GDP release has been covered by Jim, as well as others. [RTE/Izzo] [CEA] [FreeExchange/RA] [CR] [MA] The release was accompanied by an annual revision of data extending back to data for 2007Q1. This revision alters our understanding (or lack of understanding in the cases of certain people) of the evolution of this recession. Here are the points I gleaned.
“We have met the enemy and he is us,” Pogo used to say. Well, we’ve also now met the recovery, and he is ugly.
