Obama’s "Goldilocks" Approach

Obama’s Fiscal Stimulus Splits the Difference“Obama’s economic plan falls well short of what’s needed.”–Paul Krugman, “The Obama Gap” (NYT, 1/9/09)“Obama has vowed to do everything at once . . this will be the most complex piece of legislation in American history.”–David Brooks, “The Confidence Surplus” (NYT, 1/9/09)Depending on who you believe, President-elect Obama has devised...
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’09 Stock Market Rally

Out of Treasuries, Into Stocks? “Obama Warns Trillion-Dollar Deficit Potential”—The New York Times (Jan. 7, 2009) “Suddenly, a Markets Turnaround”—The Wall Street Journal (Jan. 7, 2009) The stock market is famously forward-looking, so it’s certainly possible that the rally the last month or so — up 10% to 20% from its lows, depending on the...
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Obama’s Forebears

Obama’s Forebears: FDR, Lincoln . . . Gorbachev??Talk about anticipation: political pundits are already engaged in a spirited debate about which historical leader faced circumstances most closely paralleling the financial crisis now confronting President-elect Obama. The most obvious candidate is FDR, and the broken economy he inherited in early 1933. Now like then, the economy...
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Floyd Norris Column

“Voting” your Home, or Your 401(k)?New York Times business columnist Floyd Norris has a provocative piece today titled “Housing Prices and McCain”: http://norris.blogs.nytimes.com/ Norris’ premise is that Obama defections are likeliest in “red” states where home prices have dropped the most. Could be, although you’d be hard-pressed to isolate just one factor in causing a...
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