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.
Attaining Internal and External Equilibrium in China
China raises rates again. What will higher rates do?
Life on Saturn’s moon?
The mainstream media caught the story of apparent seas made of methane or ethane on Saturn’s largest moon Titan. But there was an even more interesting account about tiny Enceladus.
Disappointing numbers on inflation and retail sales
Macroblog and Calculated Risk had some discouraging graphs yesterday.
Caribbean ethanol imports
What happens when you mandate use of ethanol and heavily tax its importation?
Negative Net Income: The 2006 Balance of Payments
Most commentary on the 2006q4 current account balance release focused on the improvement in the overall balance. Little noted is the fact that 2006 is the first year in which the net income category has registered negative.
The Term Spread, Cross Country
How does the term spread correlate with recession in other economies?
Subprime fallout
New Century Financial Corporation, formerly one of the nation’s biggest subprime mortgage lenders, has had a spectacular trip up and even more spectacular trip down.
Fannie, Freddie, and Ben
Fed Chair Ben Bernanke had some excellent suggestions last week for congressional action on Fannie Mae and Freddie Mac.