Robert Hall starts at minute #38. He and James Hamilton are the clearest and cleanest economists on the planet.

Listen to what he says at minute 43:45. That is one of the answers as to why we are where we are.



http://amps-web.amps.ms.mit.edu/public/150th/jan27/150econFinance-part2.html

Budget unreality....

http://online.wsj.com/article/SB10001424052748703584804576144461982648424.html?mod=djemEditorialPage_t

It was leverage stupid! And that always plays a role in most all finacial meltdowns.

http://www.nytimes.com/roomfordebate/2011/01/30/was-the-financial-crisis-avoidable/address-excessive-leverage

NPR and me last Friday. And no, I have not gone over to the dark side. My stuff starts at the 3:17 mark.

You really need to read this.

http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2011/02/06/made_in_the_usa/

I do not miss living up North.

Was the Fed a Bad Idea?

Chairman Bernanke in his own words.

http://www.federalreserve.gov/newsevents/testimony/bernanke20110209a.htm

Like I have been saying all along...the deficit is a side show. What matters is the government spending to GDP ratio.

Europe is starting to "get it".

http://online.wsj.com/article/SB10001424052748704364004576131940794840176.html?mod=djemEditorialPage_t

and here too...

http://online.wsj.com/article/SB10001424052748704364004576132611168150744.html?mod=WSJ_Opinion_AboveLEFTTop