Good news: Thorstein Veblen is now cleared, once again, to blog.
This blog will resume shortly, and could hardly come at a better time -- with economies mired in liquidity traps on both sides of the Atlantic (and Pacific), with another recession looming, and with the possibility, Mr. President, that you will last only one term.
Mr. President, you are now trading at 50.7 on intrade. Sure, online prediction markets aren't perfect, but still, given the state (and likely future state) of the economy, 50.7 sounds like it might be a short sale to me. 50.7 is a wake-up call.
Paul Krugman: Cruelty, Incompetence and Lies
6 minutes ago