Wall Street vs. Corporate America
November 24, 2010
All of those headlines about record corporate profits turn out to be a little misleading. As Justin Fox notes at the Harvard Business Review, corporate profits are hitting all-time highs only if you look at nominal dollars.
December 21, 2009
Examination shows New Century didn't relax its lending standards. Should we be optimistic about the increase in temp hiring? Justin Fox is leaving Time for the Harvard Business Review. The young may be thriftier than we thought. Why we should forgive the Fed for screwing up its oversight of banks.
The Conventional Wisdom on Jobs is Changing
December 15, 2009
The good folks at Grant's Interest Rate Observer must have felt pretty lonely six weeks ago when they suggested the recovery might be "jobful" rather than jobless, as almost everyone was insisting at the time.
...Or Is Goldman Still Getting the Last Laugh?
December 11, 2009
Justin Fox is unimpressed with the latest Goldman bonus manuever, in which the top 30 Goldman execs would get their bonuses in so-called "shares at risk" rather than cash, and the shares could be clawed back if the execs turn out to have placed some costly bets: Yawn. Bonuses for top management at Goldman were already paid out mostly in stock. Goldman already used clawbacks to make sure it wasn't paying for ephemeral performance. Personally, I like the idea of a corporation that pays out half its revenue as employee compensation. If only more companies did that!
November 04, 2009
Eugene Fama calls the premise of Justin Fox's book "fantasy". Why did Volcker walk out of his Bartiromo interview? Dirk Bezemer: Why financial sector debt is a dead-end for the economy. Treasury to issue 30-year inflation protected bonds. Felix Salmon can't see a painless way out of the bubble we're inflating. The Great Crash ... in nominal spending.
October 29, 2009
The Fed's not about to take away the punch bowl. Correlation of the day: A Phillies World Series win could be bad sign for the economy. Justin Fox: Are finance professors to blame for crisis? Before Freakonomics, there was Steve Landsburg, who is now blogging. Has Obama soothed our animal spirits? Somebody's still creating CDOs.
The Ups And Downs Of Cash-for-Clunkers
August 05, 2009
There's no shortage of debate over Congress's cash-for-clunkers program, which rapidly burned through its first $1 billion in funds and is getting ready for a re-up.