US greatest economist in the making.

dzyx

PAUL KRUGMAN: WE NEED $8-$10 TRILLION IN QE

bigbadwolf

He's such a crazy Keynesian lunatics.

bigbadwolf

He has the most piosonous blood toward China. The 10T QE is just to dilute the impact from China' foreign reserve.

dzyx

看看O8都用了些什么人。

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Uncharted Economy?
Sep 2, 2010 3:45PM GMT

It's somewhat heartening to hear from Christina Romer, the departing chairman of the White House Council of Economic Advisers, that she believes freight rail volume numbers are a great indicator of real economic activity.

The trouble is Romer, an economist and expert in economic history, told me before her "valedictory" speech at the National Press Club this week that those freight numbers provide a great window on economic activity in the 1890s.

That was the heart of the problem with what Romer said at the forum just a couple of days before she returns to academic life at the University of California at Berkeley.

The administration was surprised, she said, at the depth and persistence of the economic downturn into 2009, and missed badly in forecasting that the stimulus package passed in early 2009 would keep the unemployment rate at around 8 percent. The unemployment rate, of course, jumped beyond 10 percent and remains at 9.5 percent, creating a strong drag on needed improvement in the housing and retail sales markets.

She did not foresee, Romer said, that businesses would not bring back workers in big numbers and doesn't entirely understand why they have not. It's been difficult to respond to the downturn, she said, because "we have been in largely uncharted territory."

You can read one assessment of Romer's comments at the NPC in the Washington Post.

But it's hard for us to really believe that the direction of the economy is really so thoroughly unknowable. The recession and spindly recovery may not have progressed as others have, but with the business press reporting numbers in unprecedented detail and industry groups, companies and government agencies spitting out a seeming constant stream of data, the existing economic landscape is being charted pretty well.

NG_NM

回国了？

dzyx

回国了？ NG_NM 发表于 2010-10-17 12:14

快了。有事吗？