“Quick Fixes” To Balance State Budgets

I wanted to briefly comment on this recent (July 17) Wall Street Journal article that mentions how Illinois and California are working to “balance” their budgets: http://online.wsj.com/article/SB124776520979752661.html The article brings to mind a term that I have used before, “quick fixes.”  Sadly, some of the means by which these budgets are apparently being balanced might … Read more “Quick Fixes” To Balance State Budgets

Another Forecast Mentioning “Double-Dip” Possibility

Goldman Sachs yesterday came out with a new forecast on the S&P500 price as well as operating earnings, as seen on CNBC.com here: http://www.cnbc.com/id/31774313 I found the following phrase interesting; as this is another forecast that mentions the possibility of a “double-dip” recession in the future: “Goldman’s current economic view is for below-trend growth through … Read more Another Forecast Mentioning “Double-Dip” Possibility

“Focusing On Things We Can Control”

Recently I have seen a phrase mentioned by a couple of different Fortune 500 firms during conference calls.  While discussing their financial results, they have mentioned that they are “focusing on things that they can control.” When I first heard this phrase it struck me as odd.  I inferred from the phrase that they were trying to convey diligence with … Read more “Focusing On Things We Can Control”

Clarification of a Phrase

I would like to quickly clarify a phrase I have been using on this blog… The phrase is “this period of economic weakness.” The reason I use the term is that, as I have explained in this prior post: https://www.economicgreenfield.com/2009/06/22/are-we-in-a-depression/ that our current economic environment is difficult to classify.  Furthermore, it is a very fluid situation that can … Read more Clarification of a Phrase

False Signs of Recovery in Recessions

On July 16, I wrote the following: “During periods of economic decline, it is relatively common to have periods of “relief” from decline – then a resumption of further decline. This is what I believe we are experiencing now, both in the economy as well as the stock market rally (which I have previously referred … Read more False Signs of Recovery in Recessions

Laura Tyson on Economic Forecasting

I recently ran across a quote from Laura Tyson.  It highlights some issues with regard to economic forecasting.  Here is her quote: http://www.msnbc.msn.com/id/31910717/ns/business-eye_on_the_economy/ “We are in a balance sheet recession,” said Laura Tyson, a former head of the Council of Economic Advisers during the Clinton Administration who is now one of President Obama’s economic advisors. … Read more Laura Tyson on Economic Forecasting

Roubini’s Statement of Yesterday

After I wrote a post yesterday about Nouriel Roubini’s latest thoughts on the economy going forward, he came out with a statement that elaborated upon his stance.  It can be found at the following link: http://www.cnbc.com/id/31947275 As I pointed out yesterday, I find his views and forecasts to be important for a number of reasons, … Read more Roubini’s Statement of Yesterday

Financial Terms That Have Fallen Out of Use

I find it interesting that certain financial and economic terms seem to have completely fallen out of use, especially in the press.  Among these I would include “Quality of Earnings” and “Fiduciary Responsibility.” As well, “Moral Hazard” is still used but surprisingly much less than one would think.  It seems to be on the way out. What is the … Read more Financial Terms That Have Fallen Out of Use

Economic Forecast From The Federal Reserve

The recently released minutes of the June 23-24 FOMC meeting, found here: http://www.federalreserve.gov/monetarypolicy/fomcminutes20090624.htm stated the following:  “The staff projected that real GDP would decline at a substantially slower rate in the second quarter than it had in the first quarter and then increase in the second half of 2009, though less rapidly than potential output. … Read more Economic Forecast From The Federal Reserve

Recent ECRI Statements

In this post I would like to highlight ECRI and some of its recent statements, after which I will make comments. From a recent (7/14/09) Newsweek story, quoting ECRI, found here: http://www.businesscycle.com/news/press/1481/ “From our vantage point, every week and every month our call is getting stronger, not weaker, including over the last few weeks,” says … Read more Recent ECRI Statements