Yesterday’s big sell off wasn’t due to the recent down-grading of the U.S. credit rating. Sure it played a very minor part in it, but if you look at the markets yesterday there is something very interesting the sticks out. Investors still rushed to buy treasury bonds, which drove the 10 year interest rate below […]
With the deal announced to raise the debt ceiling and instill trillions in cuts during a recession, it is time to declare the that the right owns the economy. So just how bad is this deal? Here’s Paul Krugman’s take: For the deal itself, given the available information, is a disaster, and not just for […]
Like many others, I have spent the last few days really contemplating what will happen in the elections this November. As much as I want to be optimistic, I just can’t bring myself to it. Democrats are looking at a very dark mid-term and, as Peter Daou puts it, these are “dark days for the […]
Peter Orszag will become the first member of President Obama’s cabinet to leave: White House budget director Peter Orszag plans to leave government in July, becoming the first member of President Barack Obama’s Cabinet to depart, administration officials said Monday. Orszag is likely to join a think tank, colleagues said. Presidential advisers say a possible successor as director […]
Throughout 2009 we kept hearing about the need new and more wide-spread financial regulation. That’s when the market was down. Now that it is back up, it looks like new regulations might take a back seat: So what happened to Frank’s initial fervor? The stock market recovery — the Standard & Poor’s 500-stock index is […]
When we were talking about the stimulus bill the GOP’s biggest talking point was that “the government doesn’t create jobs”. As a little refresher, here’s Michael Steele saying just that in February: My how time changes things, even if its only two months. Now that there is a new military budget out there, one that’s […]
Paul Krugman is happy with the new Obama budget. Actually it seems to be the first highly positive piece he has written about Obama since Inauguration Day. I know I am glad to hear Krugman’s approval on this.
This is classic Obama and we need it now more than ever. Luckily he rolled back out his classic attacks against the GOP smear machine last night. I wonder if he was following the advice of Paul Krugman.
Paul Krugman does a hell of a job dissecting the Republican party’s failures and where it has left them. One part of his latest column that really sticks out is this: The fault, however, lies not in Republicans’ stars but in themselves. Forty years ago the G.O.P. decided, in effect, to make itself the party […]
Paul Krugman has some advice for Barack Obama: Whatever the new administration does, we’re in for months, perhaps even a year, of economic hell. After that, things should get better, as President Obama’s stimulus plan — O.K., I’m told that the politically correct term is now “economic recovery plan” — begins to gain traction. Late […]