Other priorities are forcing me to step away from this website. The last year and a half have been a pleasure as I added some insight (and only a little opinion) to what was going on in the U.S. economy. I'll be back, timing is unclear.
This site remains a good review of the tremendous economic collapse during the 2007-2009 recession and the great lengths the Federal Reserve and Administration went to avoid an even worse outcome. The review of the fiscal and monetary policy moves will be debated for years to come. However, the political effects are becoming painfully clear already.
The massive $787 bln stimulative package and the tremendous fiscal deficits expected over the next decade leave a truly massive national debt that will promote tax increases as the government swings a bigger stick. The push for national health care moves our system from self-service toward a welfare state and will significantly lessen the quality of the finest medical system in the world.
This site has always kept a safe distance from political opinion. I’m just broad brushing the big picture. In sum, the economy has now turned out from the most severe collapse since the great depression. A few lagging indicators such as employment growth and credit availability are bringing up the rear as political opinion has taken back the focus in the daily headlines.
Thanks to all you readers out there and the comments you’ve sent to me.
For those seeking other sites on economics, a few include :
Calculated Risk : http://www.calculatedriskblog.com/
Economist’s View : http://www.economistsview.typepad.com/
Greg Mankiw’s thoughts : http://www.gregmankiw.blogspot.com/
Economics Browser : http://www.econbrowser.com/