Economy

Are Government Workers Overpaid?
October 12, 2009

Henry Blodget passes along this startling statistic: The average federal worker makes $75,419 a year, while the average in the private sector is $39,751. Why is that, exactly?  Is it because Federal workers are 80% better than private-sector workers? And remind us again why, in the interest of cutting the deficit, the government shouldn't just slash 20% of its budget across the board? Why indeed. The only problem is that this figure is wildly inaccurate.

Moneyball
October 12, 2009

Geithner and Summers go to tennis camp.

Gourmet and the Bottom of the Magazine Market
October 11, 2009

Dan Gross is onto something with his most recent Slate column: [T]he closing of Gourmet (along with Cookie, Elegant Bride, and Modern Bride) could also be a positive sign ...  [I]t reeks of capitulation. In investing terms, capitulation is that moment when, after a prolonged period of decline, nobody seems to want to be in a particular market—Internet stocks, real estate, CDOs. During down cycles, most players cut their losses or adjust to the new reality.

White Men Play Hard to Get
October 11, 2009

At least that's what the online dating scene suggests.

Obama on Consumer Financial Regs: Stay Strong
October 10, 2009

I was a little disconcerted a few weeks ago when I read that Barney Frank's House Financial Services Committee was weakening the proposed consumer financial regulator. As the Journal reported: Mr.

Retirement and the Recession, Cont'd.
October 10, 2009

Zubin did a fascinating item last week about how, contrary to the conventional wisdom, the recession might be causing to people to retire sooner rather than later (in the aggregate). He pointed to the conclusion of this paper by economists Courtney Coile and Phillip Levine: When the unemployment rate rises, more workers between ages 62 and 69 retire, particularly those with less education. ...

Worth Reading
October 09, 2009

Alan Blinder: 25% of jobs are offshore-able. So maybe it's not all bad that job openings are down 50% since 2007 peak. MIT or U. of Chicago: Which developed the better economic dream-team. How New Democrats are helping ease proposed derivatives rules. Why there's nothing morally wrong with walking away from a mortgage. Do mustached men earn more than their clean-shaven counterparts?

Explaining Geithner's Call Log
October 09, 2009

Simon Johnson raises a fair question in response to this AP scoop about the bankers Tim Geithner was in touch with early in the Obama administration. Here's the AP: The calendars, obtained by the AP under the Freedom of Information Act, offer a behind-the-scenes glimpse at the continued influence of three companies -- Citigroup Inc., JPMorgan Chase & Co.

The Network
October 09, 2009

The shock of the financial meltdown has had congressional committees scrambling for their gavels for the better part of a year. Politicians have been discussing how to make sure that such a near-cataclysm never happens again, and, for the most part, they've focused on the need for new regulation.

Worth Reading
October 08, 2009

The Fed's inflation-fighting credibility is rock-solid. But you can't say the same for America's strong-dollar policy. Is FHA headed the way of Fannie and Freddie? High frequency trading and the revival of technical analysis. The real value of Twitter.

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