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Princeton economist Krueger appointed top economic adviser

Tue, 08/30/2011 - 16:46 by Jamie Anderson

One of the principles of management states ‘Right man for the right job.’ This is probably the doctrine that President Obama applied when he appointed Alan Krueger as the chairman of the Council of Economic Advisers.

Economists: Lame ducks have big decisions

Thu, 11/04/2010 - 23:39 by Prince damin

Washington -- Washington lawmakers have the potential through inaction to push the U.S. economy quickly back into recession, a noted economist said.

Lawmakers are scheduled to debate two critical bills before the end of the year that could, if no progress is made, take $300 billion out of the hands of consumers, The Washington Post reported Thursday.

The George W. Bush era tax cuts, if left unattended, would raise taxes across the board. In addition, lawmakers in the lame duck session could fail to extend unemployment benefits for 3 million workers.

Moody's Analytics Chief Economist Mark Zandi said, "Businesses and households would run for the bunker, and we'd be back in recession. I don't see how we could avoid it."

Economist warns: Europe, then America

Wed, 05/26/2010 - 09:48 by Pankaj Damin

College Park, Mass -- U.S. economist Peter Morici warned Tuesday the debt crisis undermining the euro will likely cross the Atlantic Ocean and hit the United States.

"The next financial tsunami is emerging and will ripple to America," Morici, an economics professor at the University of Maryland, wrote in an op-ed piece.
Morici pronounced Greece "insolvent."

"No austerity or new taxes will pay its debts," he wrote.

The next weak link is Spain and "Germany and European banks can't take that hit," Morici wrote.

He said Europe was suffering from "the weight of its own financial self-abuse," and warned the healthcare reform bill would be the straw that breaks the camel's back in the United States.

Economist sees moderate China price hikes

Sun, 03/21/2010 - 10:37 by Rakhi

Beijing -- Careful management should keep the increase in the Chinese consumer price index at no more than 3 percent this year, a top economist said.

Yao Jingyuan, chief economist at the National Bureau of Statistics, said during the past 30 years China has experienced inflation when three factors converged: economic overheating, heavy borrowing and a crop failure, Xinhua, the official government news agency, reported. He said harvests have been good for the past six years, providing an "important stabilizer" for the economy.

But he warned China now depends on the international market for many important commodities, including oil and iron. Price increases there would ripple through the economy.

Cash for Clunkers Boosts Q3 GDP Growth

Wed, 12/23/2009 - 13:27 by Ishita Sood

The third quarter GDP result is out, and even though figures are not that impressive, they are definitely positive compared to the previous four negative quarters.

GDP growth in the third quarter stands at 2.2 percent, to which the maximum contribution came from the Cash for Clunkers program.

Also known as the Car Allowance Rebate System, the Cash for Clunkers is a $3 billion federal program given to the U.S. residents for purchase of new and efficient vehicles.

Bernanke's the Man (of the Year)?

Thu, 12/17/2009 - 15:49 by Alyce Lomax

Time has decided: Federal Reserve Chairman Ben Bernanke is 2009's Person of the Year. I like to think of 2009 as the The Year of the "What the [word my editor deleted]?!" as moral hazard issues swamped the market. For a year like that, I guess Bernanke is indeed the Person.

7 Stocks That Are Swimming in Cash

Sun, 10/18/2009 - 10:38 by Nick Kapur

And today, many ( The Economist, for example) are saying it loudly.

Overconfidence Can Kill Your Returns

Fri, 02/20/2009 - 12:03 by Selena Maranjian