What Economic Growth in the United States? And, in Europe?
The Congressional Budget Office (CBO) just released its forecast for economic growth and what it sees seems to differ substantially from what the Federal Reserve... Read »
Capitano Crunch: Europe’s Collapsing Monetary Aggregates
Here are some great pictures from Credit Suisse illustrating what’s happening in the European monetary sector. The monetary aggregates have been collapsing at... Read »
Do Federal Workers Get Paid More Than Private Ones?
Yes, according to a new report by the Congressional Budget Office. As always in such comparisons, however, there are some caveats. CBO summarizes its main results... Read »
New Treaty, Same Old Flaws
The European Union member states (with the exception of the UK and the Czech Republic) agreed yesterday to a new Treaty on “Stability, Coordination and Governance”.... Read »
Where is the U.S. Consumer?
“Rising Income is Saved, Not Spent,” reads the Wall Street Journal Tuesday morning. “Personal income increased 0.5% in December from November adjusted for... Read »
ZIRP and Interest Income
Edward Harrison at Credit Writedowns describes the Fed’s zero interest rate policy as “toxic,” noting that it is a transfer from savers and fixed-income... Read »
The Germans Launch A Blitzkrieg on the Greek Debt Negotiations
News stories continue to suggest that Greece once again appears on the verge of reaching a deal with its private sector creditors on how much of a loss they would... Read »
Potential Fed QE3 Informing Anti-Dollar Trades
Let’s take note of two seemingly unrelated developments. The Fed is busying itself making noise about another round of quantitative easing. The intended market... Read »
International Capital Flows, House Prices, and the Euro
Free Exchange’s weekly reading list includes an excellent recent paper by Jack Favilukis, David Kohn, Sydney C. Ludvigson, and Stijn Van Nieuwerburgh: “International... Read »
U.S. Economic Growth Accelerates Modestly In Fourth Quarter
Another backward-looking economic report dispatched a fresh round of hope today for thinking that a new recession isn’t knocking on our collective doorstep.... Read »






