The New Republic

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One interest rate spread that's still dysfunctional. Chart of the Day: What a collapse in consumer borrowing looks like. READ MORE >>

If the real estate market during the Great Depression is any guide, then property-owning Manhattanites will be waiting a long time for home prices to get anywhere near their bubble-era levels. READ MORE >>

For anyone interested in debating where the economy and financial system stand a year after the Lehman collapse, TNR is hosting a conference on the subject this coming Monday, September 14, at the Willard Hotel in Washington. We've got a real murderer's row of speakers and panelists lined up--Rep. Barney Frank, Commodity Futures Trading Commission Chairman Gary Gensler, The Wall Street Journal's David Wessel, hedge fund manager (and TNR investor) Bill Ackman, former New York Gov. Eliot Spitzer, among them. READ MORE >>

China takes key step in internationalising its currency. A look at China's statistical creativity. Chart of the Day: % of economists who like fiscal policy improves since March. READ MORE >>

Bloomberg's Eric Martin and Michael Tsang have a good story on the big difference between economists and stock market analysts over 2010's growth forecasts: Never before have Wall Street stock analysts diverged more with economists at their own firms over the outlook for earnings in the Standard & Poor’s 500 Index. READ MORE >>

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As the Lehman anniversary approaches, defenders of the financial sector struggle into position--partly in response to your comments (also here). They offer three main points: READ MORE >>

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So I think I agree with pretty much every point Paul Krugman makes in yesterdays' Times magazine about where economics went off the rails. Including his big prescriptive point: READ MORE >>