Suddenly, the economic consensus seems to be that the implosion of the housing market will indeed push the U.S. economy into a recession, and that it’s quite possible that we’re already in one.
Tag: economy
Paul Krugman: From Hype To Fear
The unemployment report on Friday was brutally bad. Unemployment rose in December, while job creation was minimal — and it’s highly likely, for technical reasons, that the job number will be revised down, showing an actual decline in employment.
Jim Moran’s News Commentary
The hallmark achievement for the “New Direction” 110th Congress so far has been passage of the Energy Independence and Security Act, a historic bill that will make America more energy independent, responsive to the global warming crisis, while also continuing to grow our economy.
Paul Krugman: The Great Divide
On Sunday, The New York Times published a highly informative chart laying out the positions of the presidential candidates on major issues. It was, I’d argue, a useful reality check for those who believe that the next president can somehow usher in a new era of bipartisan cooperation.
Nicholas F. Benton: The Dreaded
Remarkably, there are simply no indicators suggesting a rosy coming period for the U.S. economy. None, not one. On the other hand, there are plenty of arrows, and thumbs, pointing downward. No one has said how the gaping hole caused by the sub-prime mortgage crisis and related predatory lending policies […]
David Brooks: The Dictatorship Of Talent
SHANGHAI, China — Let’s say you were born in China. You’re an only child. You have two parents and four grandparents doting on you. Sometimes they even call you a spoiled little emperor.
David Brooks: Follow the Fundamentals
BEIJING — Lou Dobbs is winning. He’s not winning personally. He’s not going to start winning presidential awards or elite respect. But his message is winning. Month by month the ideas that once prevailed on the angry fringe enter the mainstream and turn into conventional wisdom.
Paul Krugman: Winter of Our Discontent
“Americans’ Economic Pessimism Reaches Record High.” That’s the headline on a recent Gallup report, which shows a nation deeply unhappy with the state of the economy. Right now, “27% of Americans rate current economic conditions as either ‘excellent’ or ‘good,’ while 44% say they are ‘only fair’ and 28% say […]
The Peak Oil Crisis: The Credit Crunch
Last week the price of oil went down, down, down, until Friday when word arrived that a tropical wave, which could turn into the first serious storm of the 2007 hurricane season, had just slid off the Africa coast.
