Summary: Here's another status report on the US economy.. Most economists expect faster growth. Perhaps so, but there are dark spots in the picture. Concerns about unsustainable auto sales, weakening exports, and (the big one) the mini-housing boom rolling over. . Expectations run high for the US economy, an acceleration from the 2%/year GDP growth … Continue reading It’s not too soon to worry about the US economy. There are things worse than slow growth.
Summary: Critics and fans alike have speculated about the side-effects of ZIRP and QE (zero-interest rate policy, quantitative easing) run since 2008. One likely effect is blowing asset price bubbles. Today we have an article by Mark Hanson, an expert who believes a new RE bubble has been blown. If so, the effects of it … Continue reading Has the Fed blown another housing bubble?
Summary: Since the first post here about the housing crisis in December 2007, it's been described here as not just a central piece of the economic weakness but a illustration of our political dysfunctionality -- our inability to use a crisis to identify structural weaknesses and generate the pressure for their reform. Here's an update … Continue reading Deflating the housing bubble – an update
Summary: An important article at Harper's, one every American should read, about the Mortgage Electronic Registration Systems (MERS), created in 1995 by the banks to circumvent property and mortgage laws in the US. “What’s happened is that, almost overnight, we’ve switched from democracy in real-property recording to oligarchy in real-property recording. There was no court … Continue reading An important article to read about another example of the fading rule of law in America