Pension Tsunami catches this story from Bloomberg.
Nonresidential investment spending: The message in the March 29 release
GDP growth was revised up in today’s NIPA release. But there are some interesting aspects in the details.
About that downside
As always, first-rate economic analysis from Fed Chair Ben Bernanke today, and first-rate coverage from Mark Thoma and Kash Mansori, among others.
Maybe we can’t count on exorbitant privilege/dark matter/manna from heaven…
The new conventional wisdom is that the return foreigners obtain on U.S. assets is less than the return U.S. residents obtain on foreign assets. And that this means that the U.S. can build up a bigger foreign debt than traditional analyses; I’ve been skeptical [1], [2]. Now, we have more reason to ask how robust is the finding of a durable earnings differential in favor of U.S. investors?
New and existing home sales
Carnival time
This week’s Carnival of the Capitalists is hosted by Political Calculations (of calculate your own recession probability fame). In addition to PC’s usual dazzling display of cool scripts, Ironman had the excellent taste to designate Econbrowser’s Bubble, Bubble, Toil and Trouble as “The Best Post of the Week, Anywhere”. Which maybe gives y’all a chance to start a new thread for discussion of just what’s been driving the housing market.
Some Implications of “Staying the Course”
The numbers are flying around — so much so that one cannot be sure of where force levels will be in a few months. However, based upon press reports and data provided by the Brookings Institution’s Iraq Index, we can make some educated guesses.
Bubble, bubble, toil, and trouble
It didn’t look to me like a bubble on the way up, and it doesn’t look to me like a bubble on the way down.
Three Four Pictures from the Investment Sector
Several observers have taken solace from the jump in housing starts; however others have noted the implications of the decline in housing permit applications are not so rosy.
San Diego city pension fund
I earlier described some disturbing details about the assets held by the San Diego County Employees Retirement Association. Our separate pension fund for city employees, the San Diego City Employees’ Retirement System, is another tale of local woe that I worry may have global implications.