economy

Anna Schwartz Schools Bernanke

June 14, 2009

Cross-posted on Swifteconomics. Do you have a very sassy New York-born Jewish grandma?  Chances are, she is exactly like Anna Schwartz.  Except in addition to being sassy, Anna Schwartz is also a noted and very knowledgeable American economist, collaborating with Nobel Prize winner Milton Friedman on their seminal work about the Great Depression, A Monetary History of the United States, 1867 – 1960.   The book is very detailed and criticizes government intervention during the Great Depression and its aftermath.   You ...

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A pox on the people that bought subprime mortgages

March 22, 2009

So, there’s been a lot of media coverage recently about what this crisis means, and how to explain it to the common man.  Terry Gross recently did an interview with Gretchen Morgenson looking at AIG spending and how it’s tied to mortgage-backed securities, and all that fun financial terminology that eventually led to America ending up in the toilet, swirling slowly around the bowl.  And NBC’s Dateline is also looking at how Wall Street and Main Street are linked together.  ...

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Predictions on the Economy from a Dismal Scientist

January 25, 2009

Since most everyone in my extended family knows that I am an economist, I get frequently asked when the recession will end, as if I am Frodo holding the ring to throw into Mount Doom, where Mount Doom is really a combination of Freddie Mae, Citiman Brothers, and Goldman Ford. So, here goes: The economy will hit the bottom in the third quarter of 2009 and start slightly trending upward in the fourth quarter. What does this mean, and how ...

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