So reports The Hill, which added up the various proposals under serious consideration as Democrats aim to stem rising unemployment rates (again). Central to the package, The Hill said, will be another extension of unemployment benefits and COBRA insurance subsidies ($100 billion); emergency funds for struggling More…
On ABC’s “This Week” on Sunday, both Paul Krugman and Robert Reich offered far more pessimistic views of the economy than the rosier outlook put forth by Federal Reserve Chairman Ben Bernanke on Friday. Krugman described the economy as languishing in purgatory. Reich explained that the More…
What is it with Paul Krugman, anyway? The Nobel economist with the dour outlook is becoming the most unlikely of pop icons. First, there was, “Hey Paul Krugman,” a ditty praising his virtues, especially compared with those of Treasury Secretary Timothy Geithner, that flew around the blogosophere. Now, via More…
More economic pessimism from Paul Krugman, whose skeptical views have a growing following: The United States risks losing an entire decade of growth and enduring Japanese-style stagnation if it doesn’t move more aggressively to deal with ailing banks and to stimulate the economy.
The headlines about stress tests released Thursday seemed sort of reassuring, after all the concern about the banking system going under. Ten banks need more capital but the others are safe. Federal Reserve Chairman Ben Bernanke made a point of declaring that none are insolvent. Everyone should breathe easier. More…
Paul Krugman raises a point worth thinking about as you hear more about stress test results for banks, which are expected to be publicly disclosed on Thursday. Why have so many of the results already been leaked — and who is doing the leaking? For example, we’ve known More…
The objections to cap-and-trade legislation have been almost entirely economic: an emissions reduction program, the argument goes, would raise energy costs and cripple industry, while also increasing people’s electricity bills. But today Paul Krugman makes the case for cap-and-trade as an economic boon that could stimulate flagging business investment. More…
Speaking of things working ing their way around the blogosphere, here’s “Hey Paul Krugman,” a ditty praising the virtues of The New York Times columnist and frequent critic of Treasury Secretary Timothy Geithner.
Krugman won a Nobel Prize; Geithner uses Turbo Tax, as the song points out.
But now that More…
While Wall Street likes the Obama administration’s financial rescue plan and liberal economists Brad DeLong (pro) and Paul Krugman (anti) go head to head over its merits, The Wall Street Journal’s lead story today tells how the populist impulses of a Democratic White House have been More…
A year ago, blogger Michael Shedlock pronounced Citigroup insolvent. No one paid much attention then, but Shedlock never wavered.
Now the U.S. government is in talks to significantly expand its ownership of Citi, the Wall Street Journal reports. And Shedlock, who writes the widely read Mish’s Global Economic More…
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