Water Water Everywhere

Kind of a bad day for water in Pittsburgh yesterday.  Beyond the seemingly unexpected resignation of the boss, there was also the bad news of rate increases along with some big water breaks as well.  I’ve heard of a few other big ones out there beyond what made the news.  Probably goes with the . . . → Read More: Water Water Everywhere

To Parse the Imparseable Dream

Well… way up on the Ambien scale is the latest actuarial report on the City of Pittsburgh pension system. Here is the much anticipated: Special Study on the Pennsylvania Municipal Retirement System’s Integration of Administrative Services. Such a boring piece of ephemera you would think. Never has so much rested on what so few can make sense of.   I . . . → Read More: To Parse the Imparseable Dream

Slow Growth and Public Debt in Europe

Gary Becker (link) and Richard Posner (link) have initiated an interesting debate on low economic growth as the main macroeconomic concern of European economies in overcoming the increasing burden of public debt.

EMU: Recovery or Decline?

NY Times recently reported on the agreed financial rescue assitance to Grecce from EMU (€110 billion) and IMF ($145 billion). Alongside Ireland and Mediterranean countries, the economic recovery of EMU is hampered by a high mountain of public debt and unfavorable macroeconomic data on growth, employment and current account.

Public debt in the European . . . → Read More: EMU: Recovery or Decline?

Danske on Eurozone Debt – The Peril of Internal Devaluations

This is really a follow-up on my earlier piece today and my last 2009 piece on Eurozone imbalances and internal devaluation. In particular, I want to point you towards two things. Firstly, Edward has, no doubt after a long hard thought, come to the conclusion that Greece should be sent to the IMF . . . → Read More: Danske on Eurozone Debt – The Peril of Internal Devaluations