Having discovered that this summer’s behemoth energy bill in fact did nothing to help with the problems uncovered by Hurricanes Katrina and Rita, Congress is ready to try again with HR 3893, which was reported out of committee last week. This one actually has some good ideas in it.
Fixing the Current Account Deficit
If the current account deficit matters, how can we fix it?
What’s good for GM…
U.S. automakers can’t be very pleased about September sales figures.
But you said that more saving was a good thing
After many of us have been arguing for some time that an increase in the U.S. personal saving rate was key for promoting long-run growth and reducing the trade deficit, the American consumer finally obliged with a 0.5% drop in consumption spending in August. But analysts such as Angry Bear and Macroblog see this as an ominous development. So which is right– is more saving a good thing or a bad thing for the economy?
Oil shale retort
A number of observers have been pointing to oil shale as the solution to all our energy problems. If oil shale does turn out to be the resource of the future, then our problems are only beginning.
Introducing Menzie Chinn
Econbrowser is pleased to welcome guest blogger Menzie Chinn, who is Professor of Public Affairs and Economics at the University of Wisconsin, Madison.
On the origin of American current account deficits
Here are some more thoughts on the debate over the source of the U.S. current account deficit and whether it matters.
Responding to supply shocks
It seems pretty clear to me that a monetary contraction isn’t the appropriate policy response to a supply shock. Apparently there are those within the Federal Reserve who see things differently.
Economic effects of Rita
A lot of people are bracing for huge effects of the latest Gulf storm on energy markets. I see reasons for hoping things won’t be that bad.
The space pioneers
You have to wonder about the timing, if nothing else. Last week, Cato Institute researchers warned of a looming budget disaster if strong measures such as cutting the budget for the National Aeronautics and Space Administration in half were not taken. On Monday, NASA chief Michael Griffin unveiled a new $104 billion plan for sustained human exploration of the moon by 2018 as a preparatory step for getting people on Mars. Here’s my suggestion for how to explore space without breaking the budget.