Mr. President, Meet James MacGregor Burns

Posted by: Tom Keene on August 28, 2010

“Brutal” Austerity?

Chairman Bernanke gets the press at Jackson Hole, but President Trichet is the must-read speech. Our Simon Kennedy listened carefully as the engineer distilled a potentially brutal “lost decade.” How lost is lost? Here’s Japan’s rollover in top-line nominal GDP.

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Japan’s Animal Spirit Deflates to Early-1990s Levels

William White

It’s like whom do the doctors send their families to… Here’s Michael McKee with the quiet academic who the monetary elite read on the airplane. Here’s one of White’s classic papers…way out in front.

Profit Consensus

John Taylor’s Economics One is must-read because he aggressively advances others’ work. Here he pushes Ron McKinnon’s Beijing Consensus. Mark J. Perry’s Carpe Diem is a veritable chartathon and has a killer corporate profit treatment … with an assumption of future job creation. But where will the jobs be created?

Research

Sven Jari Stehn writes a jewel for Goldman Sachs on structural unemployment. Summary: The grim picture is way more cyclical than expected and suggests “large-scale slack is likely to perpetuate disinflation.” Daniel Silver at JPM overlays existing home sales “units sold” on top of “median price.” I eyeball -10 percent year-over-year. Duck.

Governing Alone

Peggy Noonan opines on the President. I’ll not opine but would suggest Team White House dust off James MacGregor Burns. Start with this jewel and then search back decades for “motivation and morality.” Burns, at 92, is must-read as we search for our vineyard of liberty.

Discuss.

Reader Comments

Barry Ritholtz

August 30, 2010 3:07 PM

Wow, Thom Keene blogging

There goes the neighbor hood!

geraldmcgrew

August 30, 2010 7:12 PM

If James MacGregor Burns had been chairman of the Democratic party (or White House Chief of Staff), this country would have stepped forward by now.

Thanks for mentioning him.
(sigh)

Pauline

August 30, 2010 8:36 PM

As far as:
large scale slacks, how about large scale construction and recontruction?

structural unemployment, how about a viable marketplace for gainful employment.

median (s)..., how about a fast food joint on our highway medians to break up the long stale commute to work and home?

about aggressively advancing other's works, how about advancing other's ideas for a massive collaborative effort to get this stifled movement called economic liberation on the ground and running so we can move this economy forward?

Lost decade, how about lost files? tons of business-making ideas and opportunities lost to cyberspace because a few lazy morons have brainwashed enough people to give up on their hopes and dreams through negative punditry and bad customer service via government agencies.

Tom Keene

August 31, 2010 2:16 PM

thanks for the note. he has been wonderful about interviews. running alone is quite good...forced various offspring to read it. tk

Tom Keene

August 31, 2010 2:18 PM

thanks for the note. it all centers around investing and job creation off of innovation. tk

Jeffrey Dow Jones

September 1, 2010 12:16 PM

Tom, do you ever sleep?

Fabulous work on the radio stuff. There' is simply no better place to get fascinating perspectives than Surveillance / On the Economy.

Tom Keene

September 3, 2010 5:43 AM

jeffrey: thanks for the note. sleep awaits in 2011.

Lyman Galuski

April 20, 2011 8:59 AM

Excellent article and easy to understand explanation. How do I go about getting permission to post part of the article in my upcoming news letter? Giving proper credit to you the author and link to the site would not be a problem.

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About

EconoChat captures Tom Keene's thoughts on economics, finance and investment. He is editor-at-large for Bloomberg News and hosts Bloomberg Surveillance and Bloomberg on the Economy on NYC1130, Sirius 129 and XM 130 and Surveillance Midday on Bloomberg Television. His complete interviews are at Tom Keene on Demand. Look for Tom on twitter @tomkeene

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