Archive for the ‘America’s Economic Future’ Category

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James Hamilton’s Comment on Ben Bernanke

Thursday, July 2nd, 2009

I found this blog post from James Hamilton to be interesting:

http://www.econbrowser.com/archives/2009/06/on_grilling_the.html

especially when he says this:

“But it is another matter to question Bernanke’s intellect or personal integrity. As someone who’s known him for 25 years, I would place him above 99.9% of those recently in power in Washington on the integrity dimension, not to mention IQ. His actions over the past two years have been guided by one and only one motive, that being to minimize the harm caused to ordinary people by the financial turmoil. Whether you agree or disagree with all the steps he’s taken, let’s start with an understanding that that’s been his overriding goal.”

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I like to think of the role of the Fed Chairman in a different light, especially with our current economic situation.  I believe that perhaps the two most pertinent questions are:

1.  Does Ben Bernanke have a full understanding of the economic situation we find ourselves in?

2.  What can (and should) he do about it?  Especially considering the concepts of Sustainable Prosperity and America’s Economic Future? (both of which have been extensively referenced on this blog)

SPX at 900.4 as this post is written

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The Global Economic Future

Sunday, June 21st, 2009

One of the questions I received when I first started this blog is why I didn’t choose to discuss the global economic future, as opposed to America’s Economic Future.

This is a good question.  In essence, I do believe its focus is on the global economic future, as not only is the United States (obviously) the largest economy, but its economy and its characteristics are so pivotal to those of the rest of the world.  Perhaps as importantly, the United States seems to have attained global leadership with regard to how to best ”manage” an economy, as well as how to “fix” The Economic Crisis.  It is evident that many global economies, especially the more developed ones, have adopted (to varying degrees) the same philosophies and actions that the United States has as far as overcoming The Economic Crisis.

As such, I believe an economic discussion that focuses on the United States can in many ways be extended to other countries as well.  The main issues of this blog, such as Sustainable Prosperity, Economic Greenfield vs. Economic Brownfield, etc. are certainly pertinent and applicable to countries and regions worldwide.

SPX at 921.23 as this post is written

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Consumer-Led Recovery Story

Thursday, June 18th, 2009

This story, “On Borrowed Time : Consumer-Led Recovery” was in The Wall Street Journal on June 9.  I found the chart and its implications to be interesting.  One is led to wonder “how much gas is left in the tank” with regard to Household Debt as a Percentage of Disposable Income.  This is  especially an issue with ”Income” and asset values under pressure.

Also, there are various implications concerning Sustainable Prosperity…

http://online.wsj.com/article/SB124449816432295655.html

SPX at 911.96 as this post is written

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In Ben We Trust?

Wednesday, June 10th, 2009

I will comment frequently on Ben Bernanke, due to his position, but perhaps more importantly, because of his stated theories, beliefs, and ideologies.  It seems to me that the handling of The Financial Crisis certainly has the “fingerprints” of Ben Bernanke all over it.  In fact, I believe that perhaps no other person’s ideologies have ever played such an outsized role in the U.S. economy (and various other global economies) than those of Ben Bernanke.  In my opinion, the U.S. economy (and many financial markets) since The Financial Crisis, can be viewed as an ideologically-levered extension of Ben Bernanke’s beliefs and understandings.

Is this a good thing?  It gets back to two central themes of this blog; are we heading toward Sustainable Prosperity? And will America’s Economic Future be one of an Economic Greenfield or Economic Brownfield?

As for me, I will let my writings speak for themselves with regard to our handling of The Financial Crisis.   As one can guess, I do respect his background, and believe that he has an exceedingly difficult position; but I don’t necessarily concur with many of his theories, interpretations, or actions.

SPX at 939.35 as this post is written

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Posted in "Economic Brownfield", "Economic Greenfield", America's Economic Future, Ben Bernanke, Sustainable Prosperity | 1 Comment »

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