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2010
08/09/2010
A Double Dip Recession? Who Cares?
Though global equities have rallied modestly after a sharp plunge in May and June and companies have announced strong earnings, sentiment about the future remains gloomy. In response to intense concerns about a looming double-dip recession, business leaders have complained to White House officials that government policy is inhibiting job creation and that uncertainty about new regulations is discouraging them from investing their $1.8 trillion in accumulated corporate cash. On the flip side, Democrats in Congress effectively cornered the Republicans to extend unemployment benefits yet again, a direct response to the undeniable fact that the unemployed are facing a severe challenge to find work.
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08/30/2010
Double-Dipping into the Past
In spite of data indicating that the U.S. economy has been modestly rebounding, there is growing fear that we are simply in a lull on the way to worse times ahead. That fear, rooted in history, is the product of both legitimate concern and ugly political opportunism.
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08/02/2010
With Stocks, It's Not the Economy
From the beginning of May until late June, stock markets worldwide declined sharply, with losses surpassing 10%. The first weeks of July brought only marginal relief. Ominous voices began to warn that the weakness of stocks was a direct response to the stalling of an economic recovery that has lasted barely a year. Anxiety over debt-laden European countries — most notably Greece — combined with stubbornly high unemployment in the U.S. to create a toxic but fertile mix that allowed concern to blossom into full-bloom fear.
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