The initial estimate of United States third quarter GDP was released today. The economy grew at 2.5 percent, driven mostly by consumption growth of 2.4 percent and investment in equipment & software of 17.4 percent. Growth […]
Read more“Value at Risk is like an air bag that works well all the time except when you have an accident” David Einhorn Value at Risk (VaR) is a well-accepted measure of market risk. It is […]
Read moreThe October 29, 2009 issue of Time Magazine had an article titled “Why California is America’s Future.” I sure hope not. California is fast becoming a post-industrial hell for almost everyone except the gentry class, […]
Read moreThomas Sargent and Christopher Sims were awarded the Nobel Price in Economics today. When Robert Lucas won the Nobel Prize in 1995 I wondered if Professor Sargent and Professor Sims could win the prize. Certainly, […]
Read moreWeakness in housing activity and housing prices continues to be a major drag on the overall economy. My colleagues at CERF have long maintained that the homeownership rate (HOR) needs to fall back to its […]
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