How America Is Still Spending Stupidly

The new austerity. The great reset. The new normal. While America was suffering through the financial crisis, a chorus of economists, consumer behavior experts, and journalists predicted that the psychological scars of the Great Recession would permanent change spending habits (and they were quick to stick pithy labels on this supposed …

Was the Fed’s QE2 a Failure?

There is a lot of analysis out today on the Federal Reserve’s controversial plan to buy $600 billion in U.S. Treasury bonds to spur the economy. The program, the second round of quantitative easing (ergo QE2) since the start of the financial crisis, is scheduled to end in June. The Fed is likely to announce later this week that they plan …

New Home Sales: Slightly Better Than Horrible

It is interesting what registers as good news these days in the housing market.

People are making a big deal out of today’s new homes sales number as perhaps finally the sign that the housing sector is rebounding. On Monday, the Census reported that new housing sales rose 11% in March. This was greeted as generally good news. …

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