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Saturday, November 29, 2008

The Crash of '08 Roundup — November 29, 2008

Items of Interest:

Amity Shlaes / Wall Street Journal:
The Krugman Recipe for Depression -- Massive government spending is no solution to unemployment.

Paul Krugman of the New York Times has been on the attack lately in regard to the New Deal. His new book "The Return of Depression Economics," emphasizes the importance of New Deal-style spending. He has said the trouble with the New Deal was that it didn't spend enough.

He's also arguing that some writers and economists have been misrepresenting the 1930s to make the effect of FDR's overall policy look worse than it was. I'm interested in part because Mr. Krugman has mentioned me by name. He recently said that I am the one "whose misleading statistics have been widely disseminated on the right." ...

Discussion: The Big Picture, Paul Krugman, A Chequer-Board of Nights …, QandO, Fausta's Blog, The Other McCain, Grasping Reality …, LewRockwell.com Blog, Cafe Hayek and American Power

NY Times:
What Would Keynes Have Done? -- According to Keynes, the root cause of economic downturns is insufficient aggregate demand...

Greg Mankiw / Economics Roundtable: A Keynesian Moment
Joe Nocera / NY Times:
Out of the Spotlight, An Industry Copes with Crisis -- The credit crisis is rippling up and down the economy in ways that may not create obvious headlines but that affect the way people do their business and live their lives. People, for instance, who sell and drive trucks...
Online / Detnews.com:
Tiger Woods' split with GM a sign of sour economy When Tiger Woods ended his nine-year relationship with General Motors Corp. on Monday -- a mutual decision between a megawatt celebrity who doesn't need the work and a teetering corporation that needs every penny -- it offered yet another snapshot of how badly the American economy has deteriorated...
Phyllis Korkki / NY Times:
A Bright Future for Accounts Past Due -- If you’re determined to find a job in the damaged financial services field, here’s one strategy that could work: apply to be part of the clean-up crew. The debt collection industry, for one, is sure to have openings for many years to come...
----And why do you think your stocks hate you?

zero hedge

Calculated Risk

Mish's Global Economic Trend Analysis

Paul Krugman - NY Times

The Big Picture - Barry Ritholtz

naked capitalism - Yves Smith

Pragmatic Capitalism

Washington's Blog

Safe Haven

Paper Economy

The Daily Reckoning - Australia

Gold / Oil