Much of the reason our economy is a mess is due to the housing bubble, a period in which too many homes were built — and too many people bought homes they couldn’t afford. Home prices continue their death spiral because a glut of homes remains on the market, leftovers More…
Thousands of layoffs announced Monday illustrate the pain caused by the credit crisis here in the United States. But as the Financial Times reports, a credit crisis hits less prosperous nations much harder. From Malaysia to Morocco, the crisis, combined with high food prices, has forced some countries More…
John Judis at The New Republic joins a growing chorus of voices wondering if President-elect Barack Obama’s stimulus plan goes far enough. We’re talking about a massive spending works plan here, and everyone from Judis to contributors to the Wall Street Journal’s Real Time Economics blog say even More…
President-elect Obama’s big economic speech today details all the problems the economy faces, and he predicts dire consequences if the government doesn’t act now – and in a big way. If nothing is done, Obama warns, the recession could linger for years. It’s all part of his effort to More…
Over at Beat the Press, economist Dean Baker raises an interesting question that deserves follow-up: Is there a hidden tax credit for Citigroup in the upcoming Obama administration’s proposed stimulus plan?
From Baker:
The media seem to have largely overlooked the Citigroup tax credit in their discussion
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