Scary Chart

Here’s a depressing chart, courtesy of the enthralling and overwhelming All Things Data site Calculated Risk.  This shows the percent of job losses relative to the peak employment month for every post-WWII US recession (there have been 11). You can see...

26% of Global GDP: Part 2

Some conceptual confusion seems to be surrounding the crisis in the Eurozone, over whether it’s a banking crisis or a sovereign debt crisis. Answer B. Why isn’t it a banking crisis, as the pressures on Societe General, Banco Santander, BNP Paribas,...

26% of Global GDP: Now What?

What is going on in the Eurozone? The always sane Martin Wolf writes in the FT:  “Perhaps future historians will consider Maastricht a decisive step towards the emergence of a stable, European-wide power. Yet there is another, darker possibility … The...

A “Double Dip” Recession?

Liz Kurtz, a reporter for BigLaw, asked me earlier this week: The stock market has been quite volatile lately, and intimations of a “double dip recession” seem always to be lurking, in the reports of a persistently weak economy and in dire predictions of...