Fiscal Responsibility: Obama Puts Away the Childish Things He Found in the White House

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          Now
I am a believer.    

 

Few readers of my blog will be surprised to hear that I voted for Barack Obama in the election.   But I was always skeptical that he would be able to achieve fully his promises to bring candor, responsibility, and bipartisanship to Washington.    Experience had convinced me it wasn’t practical.   OK, I am still dubious whether it is possible to achieve bipartisanship – even for Obama.    The evidence was his failure a week ago to get a single Republican vote for his fiscal stimulus in the House (and only three votes in the Senate) despite his substantial election mandate, 63% approval rating, the severity of the current recession, and the concessions he made to the other side.     read more

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A New Depression? The Lessons of the 1930s

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          We often hear the question “isn’t this economic crisis becoming as bad as the Great Depression?” Economists can offer a variety of reassurances, but each of them is quite circumscribed:

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TIPS tips

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Everyone asks for tips: Where can I put my money?   Stocks or bonds have done very badly over the last  year, needless to say, and one cannot be confident that they have hit bottom.  Should one just leave everything in banks and money market funds?   Surely there must be something else worth buying?

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