Month: April 2011
Bernanke and a majority of Fed officials predict that the surge in oil prices will lead only to a modest and short-lived increase in consumer prices as firms will have a very tough time passing cost increases on to consumers…
Read MoreWhile money may not buy happiness beauty buys both money and happiness. Economic research shows that the beautiful are happier than the plain. Moreover, the majority of beauty’s effect on happiness works through its impact on economic outcomes! For example,…
Read MoreYesterday China reported that imports ($400bn) had exceeded exports ($399bn) in Q1 ‘11. This tiny deficit, China’s first in 7 years is an encouraging development for the world economy. It comes after 2 successive years of import growth outpacing exports.…
Read MoreThe Ryan G.O.P. Budget Proposal to abolish Medicare and replace it with vouchers to be used to buy private health insurance may be a great idea but privatizing Medicare does nothing to limit health-care costs. In fact, it almost surely…
Read MoreThe ECB hiked its main interest rate to 1.25% from 1%, yet inflationary pressures and growth prospects are no different in Europe than in the US and UK and they are not raising. This decision marks the moment when differences…
Read MoreIf the federal gov’t closes does it matter to the economy? NO! Social Security checks will continue arriving and air traffic controllers will still land planes. The fragile recovery will not be harmed. The most serious and negative consequence; a…
Read MoreInterest on the federal debt is 1.4% of GDP; $200 billion. But, it is projected to ramp up fast for 2 reasons. 1st we add $1.4 tillion to it every year and 2nd interest rates are at historic lows. If…
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