Decline Denial Duquesne

In the 1980’s it was Homestead that staked out the emotional heart of the Rust Belt miasma.  Outside of Detroit in recent years Braddock has cornered the PR market for as Jim R. would put it: “Rust Belt Porn”.   Yet then and now the city of Duquesne has declined as much and suffered as much, . . . → Read More: Decline Denial Duquesne

Household behaviour that counteracts fiscal expansion

Suppose a government tries to boost demand in the economy by boosting the deficit.

A fascinating feature of the situation is: Households are not wood, households are not stones, but men. And being men, they will look forward, they will optimise. Households know that all government expenditure requires taxation: all that is achieved by . . . → Read More: Household behaviour that counteracts fiscal expansion

Random Shots - Fed Outgunned, EMU Outflanked

As I read the latest round-up of comments by Fed officials that they are certainly not ruling out another round of asset purchases I am wondering whether this signals another round of actual quantitative easing by the Fed or whether investors should change their mindset back to before the crisis where it wasn’t the . . . → Read More: Random Shots – Fed Outgunned, EMU Outflanked

Economic Events on October 24, 2011

At 8:30 AM EDT, the Chicago Fed National Activity Index for September will be released, providing an update on economic activity and inflationary pressure in the United States.