CERF Blog

Recent Retail Sales data, October and November, have been relatively strong for an economy that is barely recovering from the Great Recession. Recent personal consumption expenditures, the national account data that is much broader than Retail Sales, surprised me with a strong growth rate of 2.8 percent per annum during quarter 3. I have blogged… Read more

Kurgman has had several recent blog entries and an op-ed ( http://tiny.cc/7S3of ) on the virtues of government debt. He compares the current stimulus to that of the 1930’s, WWII, and the Cold War. He provides the “comforting” statistic that we had government debt of 109% of GDP at the end of WWII. He argues… Read more