Larry’s Blog

Currency Thoughts Passes Fifth Anniversary

April 8, 2013

The first two postings on this blog, My Background and Analytical Philosophy, were screened on April 8, 2008.  The site now has 4,307 articles and over 2.279 million words, which is large enough to envelope four copies of Tolstoy’s War and Peace.  The inspiration for the blog came from a phone call several weeks beforehand […] More

U.S. Jobs Growth and Equities

February 2, 2013

The Dow Jones Industrials (DJIA) closed at 14,010 on Friday, February 1, 2013, which was only the seventh time ever with a close above 14,000.  All six other instances were grouped tightly in early October 2007, including the record of 14,165 on October 9 that year.  Friday’s extended rally was triggered by the Labor Department […] More

America’s Overstated Inflation Scare

November 13, 2012

Just about everyone knows that the Federal budget deficit soared in the Great Recession when revenues plunged.  Less widely understood is the fact that the gap has been subsequently grinding downward by about a percentage point per year and is now hovering around 7% of GDP.  Monetary policy has accommodated America’s weak economic environment.  Three […] More

Fact Check: Has U.S. Employment and GDP Growth Been Abnormally Poor Under Obama?

October 23, 2012

The U.S. economy had experienced recession already for thirteen months when Barack Obama became the 44th U.S. president on January 20, 2009, and the rate of contraction was then in its most virulent stage at 8.9% in the final three months of 2008 and 5.2% in the first quarter of 2009.  With such a self-feeding […] More

Some Pre-Debate Thoughts

October 16, 2012

In a town hall format from 21:00 to 22.30 EDT tonight, President Barrack Obama will debate his Republican challenger and former Massachusetts Governor, Mitt Romney.  This debate is critical to Obama’s reelections prospects, just as their first debate on October 3 was essential to Romney’s chances. Candidate debates constitute a job interview with American voters. […] More

Republicans Versus Democrats: Which Party Delivers Greater Economic Well-Being?

September 19, 2012

The economic track record of America’s two main policy parties is a topic treated before on this blog in several different articles over the past four years.  Given the emotional stakes associated with the question of which party outperforms the other, it is perhaps not surprising that this series of updates has generated some of […] More

End-of-Summer Reflections

September 5, 2012

Who dealt this mess, anyway?  Most industrialized economies are trapped in a seemingly endless stretch of deficient growth.  The most acute downturn in decades ended three years ago.  Europe is already back in recession, America has plunged from near best to near worst in G7 unemployment rankings, Japan still experiences deflation, and the expansion rates […] More

Can Anybody Define the American Crisis?

August 13, 2012

People widely agree that the United States is in crisis but just as widely dispute its nature.  Perceived problems are depicted as matters of urgency, presenting a stark choice between ruin and renewed glory but only if this, that, and the other recommended change is adopted  immediately.  Problems are perceived so differently that solutions from […] More

Germany Losing the High Moral Ground

June 27, 2012

The nearly three-year-old euro debt and banking crisis is a regional crisis within a global financial crisis that first broke out two years earlier.  The stresses of the Great Recession exposed shortcomings in the European Economic and Monetary Union that must be fixed if the arrangement is to persevere.  Until recently, Germany occupied the moral […] More

Recommended Reading

May 30, 2012

If you get the chance, take a look at the following Op-Ed columns published this week. I recommend Our Imbecilic Constitution by Sanford Levinson, a University of Texas law and pol sci professor, published in the New York Times on May 29.  Levinson’s essay hit a responsive chord in this corner.  An earlier Larry’s blog […] More