Now this is funny.
San Diego County pension fund
I have been developing concerns about the possibility that hedge fund investment flows have become a destabilizing force in world financial markets. Following the maxim “think globally, act locally,” I decided to take a look at how the behavior of our local pension funds may be one small part of that phenomenom. And I have some recommendations to make on behalf of San Diego County residents and the world at large.
The Growth Outlook
The Society Survey of Professional Forecasters latest report (dated 13 February) has been released. The mean forecast is quite interesting, in light of Jim’s recent post on industrial production and the growth outlook.
Worrisome data on industrial production
Overshadowed by the euphoria over
Bernanke’s testimony last week was news that the Federal Reserve Board’s
index of industrial production fell
one-half percent in January.
2+2=3
Or some (more) things in the Budget Proposal don’t add up
Suppose the President’s plan to escalate troop levels in Iraq succeeds in stabilizating Baghdad. What does that mean for future expenditures in support of the occupation of Iraq? Is the President’s $50 billion request for Iraq related expenditures in FY2009 consistent with the plan? This article from GovExec.com provides some hints.
Saudi oil production cuts
This is a potentially huge story that is not being adequately investigated by the financial press.
The December Trade Release: Beyond the Surprise
Almost old news, the February 13 BEA/Census release for December trade provided ample grist for the mill. Insightful perspective was provided by Brad Setser and David Altig. Here I try to add a few other insights.
The market reads Bernanke’s lips
The Fed Chair speaks, and the market jumps. But why?
Resources for economics students and professors
Here is a collection of links to recent news stories that apply some of the ideas we’ve covered in the principles of economics class I’m teaching at UCSD this quarter.
The 2007 Economic Report of the President on Exchange Rate Determination (and the Renminbi)
The 2007 Economic Report of the President was released Monday afternoon. Chapter 7, entitled “Currency Markets and Exchange Rates,” is a laudable exegesis on the determination of exchange rates.