Items of Interest:
Robert Reich / Robert Reich's Blog:
When Will The Recovery Begin? Never. -- The so-called "green shoots" of recovery are turning brown in the scorching summer sun. In fact, the whole debate about when and how a recovery will begin is wrongly framed....
All we know is the current economy can't "recover" because it can't go back to where it was before the crash. So instead of asking when the recovery will start, we should be asking when and how the new economy will begin...
discussion:
Felix Salmon: The X-shaped recovery — Robert Reich blogs the recovery …Kevin Drum / MoJo Blog Posts: The New Economy? — Robert Reich says that it's consumers …Robert Stacy McCain / The Other McCain: Robert Reich: FoolAndrew Sullivan / The Daily Dish: The Liberal Bears — Krugman and Reich are not seeing the green shoots.Mark Thoma / Economist's View: Don't Expect a Quick RecoveryCalculated Risk: Reich: “When Will The Recovery Begin? Never.”
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Paul Krugman / New York Times: The Stimulus Trap — As soon as the Obama administration-in-waiting announced its stimulus plan — this was before Inauguration Day — some of us worried that the plan would prove inadequate. And we also worried that it might be hard, as a political matter, to come back for another round...
related:Rich Lowry / National Review: Lowry: The Stimulus The Anatomy of a FailureHenry Blodget / Clusterstock: Obama's Last Chance To Fix The Economy And Save His PresidencyPrairie Weather: What in hell is happening to the economy?
Phil Izzo / Wall Street Journal:
Economists Oppose More Stimulus -- Most economists believe the U.S. doesn't need another round of stimulus now despite expectations of continued severe job losses.
Just eight of 51 economists in The Wall Street Journal's latest forecasting survey said more stimulus is necessary...
"The mother of all jobless recoveries is coming down the pike," said Allen Sinai of Decision Economics...
Just eight of 51 economists in The Wall Street Journal's latest forecasting survey said more stimulus is necessary...
"The mother of all jobless recoveries is coming down the pike," said Allen Sinai of Decision Economics...
discussion:
Philip Klein / American Spectator: The Night and Day EconomyAJStrata / The Strata-Sphere: No 2nd Stimulus, No Whacky Global Warming Bill, No Government Run HealthcarePaul Krugman: Economists oppose more stimulus?Justin Gardner / Donklephant: Most Economists Against Second StimulusReal Time Economics: WSJ Survey: Fed Independence Diminished
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Derek Thompson / The Atlantic:It's Not Just a Recession. It's a Mancession! -- What is a mancession, you ask? It's not this. It's a recession that hurts men much more than women, and we are allegedly in the worst mancession in recent history. Eighty percent of job losses in the last two years were among men, said AEI scholar Christina Hoff Summers, and it could get worse...
----With USA in a recession, rural Mexico feels the pain -- Across Mexico, desperation is increasing among the millions of families who depend on money sent home by relatives in the United States. Those money transfers suffered an unprecedented drop in May, falling 20% — to $1.9 billion — compared to the previous year, according to the Bank of Mexico. That's because the recession has left many migrants unable to find jobs in the USA, especially in construction...
The Border Patrol says the number of illegal migrants apprehended last year fell to the lowest level since 1973 as the down economy and tighter border controls discouraged many from entering the USA...
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Dante Chinni / The Christian Science Monitor:How the recession may remake American communities -- In every community we’ve visited since January, one common thought has surfaced: The United States is changing dramatically and will look very different in 10 years.
There is not much agreement on what the future will look like. After all, the effects of the socioeconomic restructuring will be very different in different places. But a few early trends are emerging...
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- A Second Stimulus Package? How Scary - Alan Reynolds, Forbes
- Wondering Why The Chinese Laughed at Geithner? - Michael Lynch, IBD
- Yuan Small Step: Faith in the Greenback is Waning - The Economist
- Western Awe & Domestic Anxiety: Tale of Two Chinas - Philip Stephens, FT
- Trouble for Treasuries Lurks as California Melts - David Reilly, Bloomberg
- Soak-the-Rich to Pay for Healthcare Reform? - Bruce Bartlett, Forbes
- King Canute at G-8: Leaders Command the Earth to Cool - Editorial, WSJ
- Can Barack Obama Save Us from Hell? - Geoffrey Lean, Daily Telegraph
- Don't Bet on the Return to a Fearful Market - Andrew Wilkinson, Barron's
- The Economist Who Predicted the Crisis - Balzli & Schiessl, Der Spiegel
- Our $17 Trillion Chinese Split Won't Be Pretty - William Pesek, Bloomberg
- Central Bankers Return to Gold/Dollars - Terrence Keeley, Financial Times
- Obama's Political Stimulus Trap - Paul Krugman, New York Times
- First Stimulus Package, We Hardly Knew Ye - Phil Levy, The American
- Obama and His Critics Are Wrong About Stimulus - Daniel Gross, Slate
- Do We Really Need Additional Stimulus? - Editorial, Washington Post
- Beazer Homes: See No Evil, Pay No Penalty - Floyd Norris, New York Times
- Is Wal-Mart Becoming the New Target? - Catherine Holahan, MSN Money
- The G-8 Economic Suicide Pact - Editorial, Investor's Business Daily
- Peak Oil, Peak Water? - Merin Yu & Angela Logomasini, RealClearMarkets
- California Versus Texas Is America's Future - The Economist
- Wall Street's Woes Call for NY Spending Cuts - E.J. McMahon, City Journal
- Forget NY, Why We're Leaving LA - Rick Newcombe, Wall Street Journal
- Obama's Last Chance To Fix The Economy - Henry Blodget, Clusterstock
- Washington Is Going the Wrong Way - Larry Kudlow, CNBC
- Which Recovery Are We Talking About? - Free Exchange
- Are Speculators Driving Oil Prices? - Zubin Jelveh, The Stash
- Fans Flock to Mourn California, 1849-2009 - Iowahawk, Big Hollywood
- Why Should You Care If Economists Raise U.S. Outlook? - The Big Picture
