Tag Archives: Great Recession

Elizabeth Warren on Barack Obama: “They protected Wall Street | Salon

By Thomas Frank
Sunday, October 12, 2014

EXCLUSIVE: Elizabeth Warren on Barack Obama: “They protected Wall Street. Not families who were losing their homes. Not people who lost their jobs. And it happened over and over and over”

“There has not been nearly enough change,” she tells Salon, taking on Obama failures, lobbyists, tuition. So 2016?

Continue reading Elizabeth Warren on Barack Obama: “They protected Wall Street | Salon

Fixing the Downward Bias in the #Unemployment Rate | Jared Bernstein

 

High-Stakes Musical Chairs: Fixing the Downward Bias in the Unemployment Rate
By Jared Bernstein
October 10, 2014

Ever since the JOLTS (Job Openings and Labor Turnover Survey) came into existence, labor market analysts have looked at the ratio of unemployed to job openings. In fact, the BLS publishes that very metric monthly (see chart 1 here). My old EPI colleague Jeff Wenger used to call it the “musical chairs” number, as when it goes up (high levels of job seekers per job), you can envision a bunch of folks trying to get the one seat/job when the music stops.

Continue reading Fixing the Downward Bias in the #Unemployment Rate | Jared Bernstein

Flashback: Elizabeth Warren (Basically) Predicts the Great Recession | .@BillMoyersHQ

The Federal Reserve Is Telling Us The Economy Is Pitiful

and
08/07/2014

Fewer than one-third of Americans report being better off financially than they were five years ago, with weak household savings and hefty debt burdens holding back large segments of the economy, according to a new Federal Reserve survey. Continue reading The Federal Reserve Is Telling Us The Economy Is Pitiful

Paul Krugman: Who Wants a #Depression? | NYTimes

Paul Krugman

One unhappy lesson we’ve learned in recent years is that economics is a far more political subject than we liked to imagine. Well, duh, you may say. But, before the financial crisis, many economists — even, to some extent, yours truly — believed that there was a fairly broad professional consensus on some important issues.

This was especially true of monetary policy. It’s not that many years since the administration of George W. Bush declared that one lesson from the 2001 recession and the recovery that followed was that “aggressive monetary policy can make a recession shorter and milder.” Surely, then, we’d have a bipartisan consensus in favor of even more aggressive monetary policy to fight the far worse slump of 2007 to 2009. Right? Continue reading Paul Krugman: Who Wants a #Depression? | NYTimes