Lynne Kiesling In yesterday’s meeting in Chicago between President-elect Obama and Senator McCain, Mr. Obama said that they were going to discuss how to “work together to fix up the country”. This language really rankles me. It also rankles Russ Roberts, whose comments on this remark reflect my dislike of the “fix the country” metaphor: … More Can Politicians “Fix Up the Country”? … More Can Politicians “Fix Up the Country”?
Lynne Kiesling Even those unaffected by this economic downturn are changing their consumption behavior, a pattern seen in prior economic downturns. This New York Times article by Alex Williams gives some details on the forms that these adjustments are taking among the wealthy: “The era of conspicuous consumption, at least for the foreseeable future, has … More A Shift to Inconspicuous Consumption … More A Shift to Inconspicuous Consumption
Lynne Kiesling Not being a macroeconomist I have little insight to contribute, but I do find October’s 2.8% decline in the producer price index quite remarkable. Not only is this the largest decline on record, it is also larger than had been forecast for October. And, as the Bloomberg article linked above notes, the UK … More Global Deflation? … More Global Deflation?