openleft.com - 12/4/2008
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In a post about Depression Economics , Paul Krugman discusses deflation, or dropping price levels. I'm seeing deflation in the local real estate market, as buyers are holding back because they think prices will keep dropping. One theory is that deflation raises the value of money, ...
money.cnn.com - 12/1/2008
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money.cnn.com —
NEW YORK (CNNMoney.com) -- The National Bureau of
Economic Research said Monday that the U.S. has been...
in a recession since December 2007, making official what most Americans have already believed about the state of the economy . The NBER is a private ...
(more)
It's official: U.S. in a recession since December 2007 - ...
outsidethebeltway.com - 12/1/2008
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outsidethebeltway.com —
The folks in charge of determining whether we’re
in recession or not have now declared that we’ve...
been in one for a whole year, despite not meeting the technical definition. The US economy has been in recession since December 2007, a panel of economists charged with the official ...
(more)
US in Recession Since December 2007
Comments
Blog Reactions
Maybe So
Talking Points Memo —
... Check out Ed's post, and his reference to another of Stoller's. There's an interesting and I think important question here as to whether neo-Hooeverite Republicans are pushing Hooverite policies for strictly economic reasons (creditors can do well in a deflationary economy), moral reasons (need a good hard recession to re-teach the poor moral values) or just because they're economic illiterates who just don't feel right echoing the calls of centrist and liberal economists. I think both Ed and Stoller are on solid ground, though I think many of the folks I see on Cavuto's show ...
A Neo-Hooverite consensus
Political Animal —
... "excess demand" out of the economy. The right, in other words, wants to see everyone taught a moral lesson about excesses. As Ed explained, "[J]ust as Republicans like Phil Gramm couldn't stop themselves from calling economically distressed Americans 'whiners' a few months ago, even in today's crisis there will be a significant group of Republicans betraying an affection for the bracing moral 'lesson' being taught to the afflicted." * The Benefactor Explanation : Matt Stoller made a compelling case yesterday that conservatives worry about economic recovery benefitting the ...
Why Neo-Hooverism Now?
Matthew Yglesias —
... The Benefactor Explanation: Matt Stoller says the right is more interested in entrenching inequality than worrying about the economy. ...
An Intellectual Bailout
The Next Right —
... The Benefactor Explanation: Matt Stoller says the right is more interested in entrenching inequality than worrying about the economy. ...
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