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Tag Archives: Budget Deficit
Are We There Yet?
When those corporate profits start turning into jobs, when we can see pricing power in the markets, then we can possibly say that there is a correlation between profits and inflation. Continue reading
Posted in Best Of The Storm, Economic News, Financial News, Fresh Perspectives, Home Economics
Tagged Budget Deficit, Deflation, GDP, Muddle Through, Recession, Recovery, Taxes, Unemployment
1 Comment
Be Careful What You Wish For
We need to cut our fiscal deficits. We need to reduce the size of governments. But let’s make no mistake that it will be painless. It is necessary that we begin as soon as possible so that we can do it at a reasonable pace before the bond markets force us to move at a pace which will be even more painful. Be careful what you wish for. Continue reading
Posted in Best Of The Storm, Economic News, Fresh Perspectives
Tagged Budget Deficit, GDP, Greece, Inflation, Keynesian Economics, The Euro
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Six Impossible Things
Should the US Bail Out European Banks?
The obvious answer to the above question, at least on this side of the Atlantic, is no. But that is the plan being foisted on US tax-payers by the International Monetary Fund. The IMF wants to create a $250 billion dollar bailout fund for Greece, Portugal, et al that the US will contribute roughly 20% to. This fund will loan money and that IMG debt will be subordinate (junior!) to regular Greek debt, so when Greece does default, and they will, the IMF is the last in line to get paid. Continue reading
California’s Austerity Plan
This afternoon, Governor Schwarzenegger unveiled his updated 2010-2011 California Budget Proposal. Updated, in part, because things are already a lot worse than the January version. Continue reading
Is This a Recovery?
Let’s try to sum it up. We have a Muddle Through Economy this year (not much more than 2% overall growth for the year), with a slowing economy next year. Unemployment stays high. If we get our deficits under control, we lock in a slow-growth economy for 5-6 years, but after that we could get back on track. A recession puts that brighter outlook out a little farther. Unemployment would go north of 12%. I might note that the stock market drops an average of 40% during a recession. Continue reading
Posted in Best Of The Storm, Fresh Perspectives
Tagged Budget Deficit, GDP, Greece, Muddle Through, Recession, Recovery, Taxes, Unemployment
1 Comment