America's Economic Future – A Discussion By Ted Kavadas
In the October 17 post (“Danger Signs In The Stock Market, Financial System And Economy“) I wrote the following: Of further concern is whether, and when, the above-mentioned problems might reach a point at which another (financial system) crash occurs. I am particularly concerned about the prospects of the next crash for a number of …
What is the official definition of an (economic) depression? Although the term is often heard, the term seems to lack a well-structured definition. There is a section discussing depressions on The NBER’s Business Cycle Dating Procedure: Frequently Asked Questions page. As seen in the discussion, it says: The term depression is often used to refer …
As seen in the September 15 post (“September 13 Gallup Poll On Upper-Income Americans’ Economic Confidence“) lately there appears to be a significant lessening of economic confidence among “upper-income” Americans; and, as seen in the poll, “This is the first month since the financial crisis of late 2008 and early 2009 that upper-income Americans are …
For a variety of reasons I believe that an understanding of the Great Depression and its causes are important. The stock market Crash of 1929 and the events leading up to it are particularly noteworthy. Along those lines, I have always found the American Experience documentary titled “The Crash of 1929” to be of great …
One of the more interesting facets of our current economic situation is that a case can be made that the economy is in a recovery (or expansion), recession, or depression. This observation is supported by a number of factors, including that of a Gallup poll released yesterday. The poll is titled “More Than Half Still Say …
One year ago, Ben Bernanke presented a speech titled “Economic Policy: Lessons from History.” I view this speech as highly noteworthy – epochal, even – especially in relation to the efforts made to “bring the economy back” from the depths of the Financial Crisis. Here are some excerpts that I find particularly relevant: “I draw …
On February 14 I wrote a post highlighting Milton Friedman’s “Free to Choose” television series of 1980. From time to time I plan on commenting on various material contained therein as much of it is highly relevant to issues we are currently encountering. In Volume 9 there are a couple of comments made, at roughly …
The January 17-January 23 Bloomberg BusinessWeek issue had an article titled “Back to the Economic Future.” The article notes “John Maynard Keynes and Fredrich Hayek, who battled over the Depression, are getting a fresh look as the Long Slump lingers on.” It discusses the current state of the (macro)economic profession and theoretical trends within the …
On Friday, September 10 Timothy Geithner was interviewed by The Wall Street Journal. During this interview, he said: “[The] typical error most countries make coming out of a financial crisis is they shift too quickly to premature restraint. You saw that in the United States in the 30s, you saw that in Japan in the …
In March of 2009 I wrote an article titled “A S&P500 Target of 100?” I am sure that the mere idea of such a target seems impossible to many. However, for a variety of reasons, many indicated in the aforementioned article, I believe that such a target is not only possible but increasing in likelihood. …