Sustainable Prosperity

One of the terms that I frequently mention is “Sustainable Prosperity.”  I think the term and its meaning have tremendous significance to our economic future at this juncture. Providing an exact definition for the term is difficult due to the complexity of the underlying concepts. “Sustainable” can be defined in terms of time, as well … Read more Sustainable Prosperity

An Interesting Letter Regarding Economic Systems

Below is an excerpt from a  reader’s letter found in The University of Chicago Magazine, Nov-Dec 2009 p. 10-11.  It is from Frank R. Tangherlini.  I found the ideas he presents to be interesting and notable: “Second was Michael Fitzgerald’s article on the Chicago School and the economy…my experiences as a youngster during the Depression … Read more An Interesting Letter Regarding Economic Systems

Larry Summers On Growth – March 13 2009 Speech

Here is one more excerpt from Larry Summers’ speech of March 13.  I find this excerpt to be of particular significance with regard to the concept of Sustainable Prosperity: “Of fundamental importance is ensuring that we do not exchange a painful recession for another unsustainable expansion. That would not only be irresponsible – it … Read more Larry Summers On Growth – March 13 2009 Speech

Fannie Mae And Freddie Mac Developments Of December 24

For those who may have missed it, there was a notable development on December 24 concerning Fannie Mae and Freddie Mac.  Here is The Wall Street Journal link and the Treasury Dept link: Basically the government announced plans to cover an unlimited amount of losses at both companies. It is yet another testament … Read more Fannie Mae And Freddie Mac Developments Of December 24

Article On Detroit Unemployment

Below  is an article from The Detroit News of December 16 titled “Nearly half of Detroit’s workers are unemployed”.  Among other things, Detroit’s economic situation seems to refute the theory, with which I vehemently disagree, that we as a nation do not “need” manufacturing in order to be successful. back to <home> SPX at 1117.83 … Read more Article On Detroit Unemployment

Larry Summers On Bubbles – March 13 2009 Speech

As I, as well as others, have been frequently mentioning bubbles, I thought it would be interesting to post a few comments (excerpts) that Larry Summers made concerning their effects during his March 13, 2009 speech.  I found these comments to be very interesting, especially in light of our current economic condition and prospects for Sustainable Prosperity. … Read more Larry Summers On Bubbles – March 13 2009 Speech

Total Household Net Worth As Percent Of GDP

The following chart is from the CalculatedRisk Blog on December 13 and depicts Total Household Net Worth as a Percent of GDP.  The underlying data is from the Federal Reserve Flow of Funds 3Q 2009 report. I am posting it here for reference purposes, and I might comment upon it in the future.  I find it … Read more Total Household Net Worth As Percent Of GDP

Stiglitz On 2010

Here is a story from yesterday on comments by Joseph Stiglitz about his views on 2010 economic performance: From the article: “Nobel Prize-winning economist Joseph Stiglitz warned there’s a “significant” chance the U.S. economy will contract in the second half of next year…” I find Stiglitz’s view significant because it is in marked contrast to that of the … Read more Stiglitz On 2010

Banker Pay

Recently, both President Obama and Treasury Secretary Geithner have bemoaned the banker pay issue.  Here is a Wall Street Journal story of December 14 containing President Obama’s comments on the issue, which contains his “fat cat” quote: Here is a Bloomberg article of December 5 that mentions Treasury Secretary Geithner’s comments: What I find notable about President Obama’s and … Read more Banker Pay