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Friday, March 29, 2013

Latest US GDP Data Show Economy Weak at Year’s End but Corporate Profits Near Record High

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The latest data from the Bureau of Economic Analysis confirm that the U.S. economy barely grew in Q4 2012. However, despite the weak econom...
Monday, March 25, 2013

Follow-up: Further Program Notes for the Cyprus Banking Drama

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Last Friday I sketched out some program notes for the Cyprus banking crisis. The notes explained the origin of the banks’ losses (Act 1) ...
Friday, March 22, 2013

Bailouts, Bail-ins, Haircuts and All That: Program Notes for the Cyprus Banking Drama

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Ireland, Iceland, now Cyprus—the story of small countries with oversized banking systems is all too familiar. There is never a shortage of...
Monday, March 18, 2013

Ten Years on, New Estimates of the Economic Cost of the Wars in Iraq and Afghanistan

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This week marks the tenth anniversary of the American invasion of Iraq. What have the wars in Iraq and Afghanistan cost the United States ...
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Friday, March 15, 2013

New Slideshow: CPI Spikes in February but Inflation Expectations Remain Well Anchored

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The all-items U.S. Consumer Price Index rose by 0.68 percent in February, equivalent to an annual rate of 8.47 percent. That was the fastest...
Tuesday, March 12, 2013

Fareed Zakaria is Wrong (Mostly) About the Keystone Pipeline

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Watching the Sunday talk shows this week, I learned that the influential journalist Fareed Zakaria has now joined the chorus urging constr...
Saturday, March 9, 2013

New Slideshow: US Unemployment Rate Falls to 7.7 Percent in February, Economy Adds 236,000 Jobs

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The Bureau of Labor Statistics reported Friday that the U.S. unemployment rate fell to 7.7 percent. For the first time that puts it at a lev...