Archives: December 2008

Is Social Security a Ponzi Scheme? Response to Comments

Posted by: Michael Mandel on December 30, Categories: Growth

I've read through all the comments on my previous post, and I wanted to see if I could respond to some of them. In particular, a lot of people objected...

Will the Economic Crisis hit Asia Harder than the U.S.?

Posted by: Michael Mandel on December 28, Categories: Growth

The latest news out of Asia is not good. On December 26 the Japanese government announced that factory output fell by more than 8% in November, the biggest drop in...

Is Social Security a Ponzi Scheme?

Posted by: Michael Mandel on December 28, Categories: Growth

(This is the first in a series on technology and the crisis) In the aftermath of the Madoff implosion, quite a few people have pointed out the parallels between a...

Why Autos are Important

Posted by: Michael Mandel on December 27, Categories: Trade

The failures in the domestic auto industry really are a big cause of our trade problems. Take a look at this graph, which shows the cumulative merchandise trade deficit of...

Are the Yankees Evil? Or just unseemly?

Posted by: Michael Mandel on December 26, Categories: sports

I've taken a ten-day break from posting, but now I'm refreshed and ready to go. Let's warm up with something light and easy: The Yankees. For full transparency, I was...

Madoff and the SEC

Posted by: Michael Mandel on December 16, Categories: Financial markets

Here is a portion of a statement issued today by Securities and Exchange Commission Chairman Christopher Cox: Since Commissioners were first informed of the Madoff investigation last week, the Commission...

Deflation and Economic Recovery

Posted by: Michael Mandel on December 16, Categories: Macro

I just did a story arguing that deflation might help economic recovery. Here's a piece: Is price deflation a sign of an accelerating economic downturn? History is not encouraging. Periods...

Madoff and the Fundamental Fallacy of the Global Economy

Posted by: Michael Mandel on December 15, Categories: Financial Crisis

I've written a new piece here on Madoff and the "fundamental fallacy of the global economy." Here's the beginning of it: For years, Bernie Madoff, all-around nice guy, pulled billions...

"Houston, We Have Our Scapegoats"

Posted by: Michael Mandel on December 13, Categories: Financial Crisis

So far this financial crisis has been marked by an unsatisfying search for a scapegoat or villain. So far Congress and the press have tried to pin the "villain" label...

How Many U.S. Jobs Does the Apple iPod Create?

Posted by: Michael Mandel on December 12, Categories: Labor Market

The answer: 13,920, including engineering and retail. But there are 27,250 iPod-related jobs created outside the U.S. That's according to a terrific new study called "Innovation and Job Creation in...

Intangible Sector Job Growth

Posted by: Michael Mandel on December 10, Categories: Labor Market

I just did a piece on job growth in the intangible sector. You can find it here....

Was the Trade Boom partly driven by cheap credit?

Posted by: Michael Mandel on December 08, Categories: Trade

I was just reading a report by Capital Economics on a decline in Chinese exports. They wrote ....strains have been growing in the system of trade finance that underpins global...

The jobs report

Posted by: Michael Mandel on December 08, Categories: Labor Market

Sorry for not posting on the job reports on Friday. I did a video and an BW.com story, and then had to pause to let it all sink in. Here's...

Why is real GDP growing in a recession?

Posted by: Michael Mandel on December 02, Categories: Macro

As I noted yesterday, we have now been in recession for a year, but reported real GDP has actually risen. How can that be? I've looked a bit deeper into...

The Recession is A Year Old

Posted by: Michael Mandel on December 01, Categories: Macro

Yes, we have been in a recession for a year--even though real GDP is up. The current downturn began in December 2007, according to the National Bureau of Economic Research....

About

Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.

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