In this article from LBO #128 (yes, it’s posted quickly to the web, but that doesn’t happen often, so you really should subscribe if you don’t), I talk about the lust that some people—within Wall Street, the Federal Reserve, and the world of punditry—have for getting the federal deficit down. Contrary to this I argued that this is really the wrong time to start thinking about that—we still need the short-term kick of deficit spending to help get the economy off the mat, and then over the longer term we need to… Read More
I emailed Random House publicity to see if I could set something up with Gary Shteyngart, who sounds pretty interesting. This is the autoresponse I got: Thanks for your email. Please make certain that in all future emails you include the name of the book and author in your subject line. If you are listing requests, please do not send in an attachment, but in the body of the email. It is also important that you include all of your contact information, including your email address, in the body of your email…. Read More
LBO #128—just emailed to electronic subscribers, and on press for the print audience. Contents: •Austerity in the face of weakness •Andy Stern, stocks, and Social Security •the energy picture: how the U.S. stacks up (badly), and how we’re doing on renewables (badly) • The Nation moves its money • localism in Portland If you don’t already subscribe, please do: LBO subscription info. Paid subscriptions help keep the free stuff (this, radio show) going.
burstlet fades It’s now becoming quite obvious that the burst of strength in the first quarter of the year has given way to something much less yeasty. The rate of job growth has slowed dramatically, and the retail sales report released earlier in the week revealed that Americans just haven’t been spending money in the last few months with the vigor they showed in the winter and early spring. I’m not at all surprised by this development—this is what recoveries from financial crises look like. And the Federal Reserve has now come… Read More