Submitted by Econbrowser
Currently available data on consumer spending make it very unlikely that we’ll see negative real GDP growth for the fourth quarter.
The BEA reported on Friday that seasonally adjusted real consumption spending grew at a 6.5% annual rate between October and November. As Calculated Risk has noted in the past, this takes much of […]

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Submitted by unsettling economics
Upton Sinclair’s Jungle was intended to draw attention to the dirty and repressive conditions in the meat packing industry.
Reflecting on the storm over The Jungle, Upton Sinclair wrote that he was primarily moved by the condition of the workers, not the meat: “I aimed at the public’s heart, and by accident […]

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Submitted by unsettling economics
In a recent Ohio case. the judge dismissed a number of foreclosure requests because the plaintiffs could not show that they were the legal owners of the properties. This ruling seemed like it was a minor technicality is going to the complicated nature of the securitized mortgages. BusinessWeek published a short article, […]

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Submitted by unsettling economics
The Wall Street Journal reports on the spread of homes with negative equity. As of a year ago, estimates were that for 7% of mortgages that originated in 2004 through 2006 the amount owed was more than their homes were worth, but housing prices have fallen nearly 5% since then and are […]

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Submitted by CARPE DIEM
Study of the long economic history of the world suggests two things. Cheap fossil fuels actually explain little of how we got rich since the Industrial Revolution. And after an initial period of painful adaptation, we can live happily, opulently and indeed more healthily, in a world of permanent $100-a-barrel oil or […]

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Submitted by CARPE DIEM
Hey, it’s a little slow for new postings, so I thought I’d recycle an interesting post from last December about the market for used light bulbs in the Soviet Union, especially because: a) I’m taking a group of MBA students to Russia in April 2008, b) Russia’s Putin is Time Magazine’s “Man/Person […]

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Submitted by CARPE DIEM
“The humble improve.”
~Wynton Marsalis, Jazz Musician
“Sell your cleverness and buy bewilderment.”
~Rumi
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Submitted by CARPE DIEM

While there are plenty of bloggers who dish out harsh opinions on Cuba and Castro, most do so from the cozy confines of Miami. 32-year old Yoani Sánchez (pictured above) is one of the few who do so from Havana.
Read about her here in today’s WSJ front page article.
Read her […]

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