A colleague calls my attention to the fact that Excel 2007 is prone to a curious arithmetic miscalculation.
Yes, housing can go down even more
Today’s Census Bureau report on the number of new homes sold in August provides our first clear data for the impact on the housing market of the financial turmoil that began August 9. It is not a pretty sight.
Perspective on Selective Fiscal Restraint and the Bush Administration
As the President and the Congress head to a showdown over SCHIP, it might be useful to see how, over the 2000-2005 period, the Federal government’s fiscal exposure evolved.
More troubles for housing
New data released today portend continued weakness for housing.
What would be the implications of stagflation for the dollar?
The dollar is declining, with no apparent support. That’s because the recessionary factors seem to be dominating. But a reporter’s question about what factors might support the dollar prompted me to think about other influences that might work in a direction opposite the forces alluded to in the conventional wisdom.
Money creation and the Federal Reserve
There seem to be some misconceptions about the monetary consequences of actions that the Federal Reserve has taken to address liquidity needs.
If Iraq becomes West Germany
Some people have argued that the occupation of Iraq could evolve into a West Germany type situation. CBO has assessed the costs of this eventuality.
The President Prognosticates (on the Economy)
From the LA Times:
Forward rates and inflation expectations
Forward rates on Treasury bonds tell an interesting story about the market’s reaction to the Fed’s interest rate cut on Tuesday.
Divining the Dollar
The dollar declines in response to the drop in the target Fed Funds rate. What next?