Lance on Dec 02 2008 | Filed under: Economics, Lance's Page
Now that the NBER has decided to endorse my view that we went into recession last December which I first first claimed last January, I think my points about the efficacy of fiscal stimulus still apply.
As for spending already pledged to save us, the figures are growing at a rate that has even astounded [...]
Lance on Oct 01 2008 | Filed under: Domestic Politics, Economics, Lance's Page
Let us look at one of the ways that we are being panicked unnecessarily, and why incidentally we can help many of these financial institutions in the fashion I discussed in my post on a potential alternative plan. In my next post we will discuss ways in which we are not being misled, and why [...]
Lance on Sep 29 2008 | Filed under: Economics, Lance's Page
Larry Summers and Mark Thoma argue that if done right the bailout will mean we can solve this crisis and still have everything we want, tax cuts, health care spending and all kinds of other goodies. Larry argues:
Just as a family that goes on a $500,000 vacation is $500,000 poorer but a family that buys [...]
Lee on Aug 07 2008 | Filed under: Foreign affairs, Lee's Page, Uncategorized, Urban planning and development
(photo: 2 Dogs)
Modern China has a curious capacity to make otherwise very sensible capitalists instantly forget every experience they’ve ever had with government central planning. The Western businessman on a trip to Shanghai looks up and sees all those gleaming skyscrapers going up on the Yangtze, and he thinks massive state planning must be different [...]
Lance on Aug 01 2008 | Filed under: Domestic Politics, Humor, Lance's Page
I still hate the housing bill.
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Lance on Jul 31 2008 | Filed under: Humor, Lance's Page
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Lance on Jul 28 2008 | Filed under: Domestic Politics, Economics, Lance's Page, Media
For those of you who love New York Times bashing, I am in rant mode at Risk and Return. What a bunch of balderdash.
Also, if you want a good idea of where housing prices may go, I also have this. Charts, I have lots of charts!
Finally, I really hate the housing bill.
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Lance on Jul 25 2008 | Filed under: Domestic Politics, Economics, Lance's Page
McCain takes a stand against Washington’s biggest example of “crony capitalism:”
What should be done? We are stuck with the reality that they have grown so large that we must support Fannie Mae and Freddie Mac through the current rough spell. But if a dime of taxpayer money ends up being directly invested, the management and [...]
Lance on Jul 09 2008 | Filed under: Economics, Lance's Page
Cross posted at Risk and Return
You may remember the website we discussed back in January. Dale Franks just discovered their program, because they now are on Television. He asks the obvious question:
So, should the mortgage companies get off scott-free from facing the results of their poor business decisions when it comes to the loans—loans they [...]
Lance on May 13 2008 | Filed under: Around the Web
The New York Times thinks housing was in a bubble and prices are too high. Their solution? Try to keep housing prices too high.
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Lance on May 01 2008 | Filed under: Domestic Politics, Economics, Education, Lance's Page
Thanks to Don Boudreaux, I found this “Inconvenient Truth” about the struggles of the middle class. As readers here know, I have long been a bear on housing, but as always those who want their hands on our wallet can take any crisis or problem as a license to take from us. Todd Zywicki writes [...]
Keith_Indy on Apr 14 2008 | Filed under: Election 2008, Keith's Page
Well, it’s all the rage now. The AHA GOTCHA! moments of political campaigning.
Some think they’ve got McCain painted in a corner by the selective use of quotes:
In a speech March 25, he said: “It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks [...]
Lance on Feb 25 2008 | Filed under: Domestic Politics, Economics, Investing, Lance's Page, regulation
Regular readers know that I have been harping on the likely collapse in housing since this blog began. At this point I am hardly an outlier in being concerned, which means now the politicians and experts are ready to ride to the rescue. Proposals to increase regulation, bailout mortgage insurers, banks and even homeowners are [...]
Lance on Feb 15 2008 | Filed under: Economics, Lance's Page
Courtesy of Barry Ritholtz, we get a look at some black humor being passed around on the trading desks of Wall Street:
Go here to see the whole slideshow.
I would have more humor about this if I didn’t just get some bad news.
My new house has a leak in the roof, and an air conditioner that [...]
Lance on Feb 14 2008 | Filed under: Economics, Lance's Page, Urban planning and development, regulation
So claims Alex Tabarrok. Alex and his blogmate Tyler are two of my favorite bloggers, but on this matter I think Alex is wrong. Unlike for some, his argument doesn’t invite scorn from me, because humility should teach us that sometimes things are different, and we cannot always fully understand why, at least not until [...]
Peg on Feb 07 2008 | Filed under: Domestic Politics, Economics, Election 2008, Peg's Page
Have you ever met a politician who didn’t make promises that could not be delivered? I haven’t, either.
Of course, there are promises… and then there are promises.
If you are someone with an adjustable rate mortgage who has run aground, then you might like Hillary Clinton’s promise to freeze interest rates for five years. [...]
Lance on Jan 30 2008 | Filed under: Economics, Society
youwalkaway.com
I really have little to add to my declaration of extreme discomfort.
Much more on this here.
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Lance on Jan 18 2008 | Filed under: Domestic Politics, Economics, Investing, Lance's Page, regulation
(cross posted at Risk and Return)
Ben Bernanke gives Congress and the President the green light to take steps to stimulate the economy along with a warning:
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Lance on Jan 18 2008 | Filed under: Domestic Politics, Economics, Investing, Lance's Page, regulation
Chris asked what he thought the Federal Reserve could have done differently. I gave him an answer, but there was more to be said. My full answer is here. Scroll around, there is a lot more on the what could have been done, what might be done, and the general risks which now surround our [...]
Lance on Jan 15 2008 | Filed under: Domestic Politics, Economics, Lance's Page
From a post at the Minneapolis Star Tribune’s buzz.com describing the impact on neighborhoods in Minneapolis of the spiraling number of foreclosures. Each pin is a foreclosure. 725 total in North Side. (HT: Instapundit)
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Lance on Jan 15 2008 | Filed under: Economics, Investing, Lance's Page
(cross posted at Risk and Return)
Paper Economy has taken a close look at what it will take to get inflation adjusted housing prices in Massachusetts back to trend over a five year period. It should be noted that for this to happen sooner the decline would have to be deeper (due to inflation doing less [...]
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