Economics Lessons

As Brad DeLong has noted , Tim Geithner believes it is time for “the economy has now recovered sufficiently for government to begin to make way for private business investment.”

op-ed by Run “The Messenger Again Wears A Skirt (Mama Tucker on Brooksley Born)” Taking a page from his former boss and mentor Larry Summers, Geithner behind closed doors has expressed opposition to Dr. Elizabeth Warren heading up the Consumer Financial Protection Bureau as reported by The Huffington Post .

HEALTH CARE thoughts: The Taxpayer Advocate and others are unhappy National Taxpayer Advocate Nina Olson is reported to be unhappy about the major IRS role in the new health care regime. Olsen believes the IRS is already overworked (she used “overtaxed” in her annual report issued this month, a great pun) and needs more money and time in order to do the job. “Obamacare” (PPACA) requires the IRS to create an entirely new enforcement and penalty system, while the Service struggles to deal with such programs as the new home buyers credit, not to mention the regular work burying the agency

The Economist asks: Is America facing an increase in structural unemployment? and invited economists answer here .

UPDATE: Jason Linkins at one of the non-Breast-Enhanced sites of the Huffington Post did a burlesque of which I can only dream on the same piece. Via Chris Hayes’s Twitter feed (and he got it from David Sirota), the following is from ” No more ‘me first’ mentality on entitlements “: While it does not happen often, our political system is capable of making unpopular decisions that are in our collective best interest.

Data 101 US new home sales rebound in June in the Financial Times today and New Home Sales: Worst June on Record at Calculated Risk. Both headlines are “true”.

by Mike Kimel Cross posted at the Presimetrics Blog . A Look at the Current Recession, A Signpost for the Start of Recessions & Some Thoughts on the Likelihood of a Double Dip These days there’s a lot of talk about whether the recession is going to double dip

Robert Waldmann Oh good, Kevin Drum and Matthew Yglesias disagree. This is bound to be interesting.

The New York Times and The Guardian report on the posting of archival documents by Wikileaks.

by Bruce Webb Over at Open Left they are revisiting the concept of Conservatism and whether it is a coherent philosophy. And after concluding that Conservatives by and large have failed to come up with their own definition proceeded to advance some of their own, that it is about enabling aristocracy, or institutionalizing suffering, or whatever