economy eyes

The great thing about Accounting Identities is that they must be true. The bad thing about Accounting Identities is that their truth is often trivial. Tim Duy notes the reality: We can’t all be net exporters The Greek crisis…is a reminder that global imbalances are still with us – and, if not corrected, will eventually threaten the sustainability of the global recovery.

by Linda Beale The IRS released its draft schedule and instructions for the new initiative (announced late in January by Commissioner Shulman and set forth in Ann. 2010-9 ) for disclosure on new Schedule UTP on uncertain tax positions for taxpayers with assets of $10 million or more

by cactus John McWhorter on James Patterson and Some Odd Numbers on Black Childhood Poverty I’m kinda in the home stretch for the fact checking on my book – we’ve revised and rewritten and rechecked so many times I’m ready to plotz, but even so, I’m willing to bet some mistakes will creep in. Its inevitable in a book as data driven as this one.

Just cactching up. Hat tip to Mark Thoma for the post on the Milken Global Conference . He mentions the panel on Geopolitics, Global Demand and the Quest for Energy Security” , and the video from the session Roubini and Milken Debate Where we’ve been-where we’re going

by run7544 Healthcare Reform Myths and Countering Facts The media has fun chumming the airwaves with misinformation on the passed Healthcare Reform Legislation and what it means for most doctors, hospitals, patients, Medicare and Advantage recipients, and also state budgets. It sells news and attracts readers

It has been asked a number of times why Angry Bear has not posted on the wars in Iraq and Afghanistan for awhile now.

by Robert Waldmann Brad DeLong clears his throat. I throw a cow. He wrote : The win-win benefits of trading money for money–where are they?

O.K., Greece is now “high yield”, “junk” , “below investment grade”, at least according to S&P. What I mean by that is S&P now rates Greece’s foreign and local currency sovereign debt at the BB+ level (with a negative outlook), below the sometimes-coveted investment grade status, BBB- is the minimum. Why did S&P feel the need to do this now

Robert Waldmann An earlier post on this topic seems to have been eaten by blogger. This post is roughly half roughly retyping. I have two proposals (last time I only had one)