Court jester economist for power Mark Zandi tried to pull a fast one by readers of the Washington Post, by actually making the argument, in the face of all evidence to the contrary, that the Obama Administration successfully fixed the foreclosure crisis. He has to make a mental leap in order to do this, claiming that the state of the housing market in 2012 is directly related to foreclosure mitigation and housing market programs from 2009. Of course, we know the causes of the housing market “recovery” and they have nothing to do with those programs, and everything to do with over-speculation by institutional investors who have bought up massive amounts of foreclosed properties.
|By: David Dayen Thursday April 5, 2012 6:30 pm|
Mark Zandi now predicts that the job market will come back at a much stronger clip than he previously expected, with the jobless rate under 8% by the end of 2012 and under 7% by the end of 2013. Zandi is the guy who predicted a bottom in housing prices in 2008, 2009, 2010 and 2011. One of these days he may be right, and all of Washington will hail his analytical acumen.
|By: David Dayen Wednesday October 12, 2011 3:32 pm|
The “investigation” started exactly one YEAR ago tomorrow. Since then, we’ve heard deadlines of April and Memorial Day and Labor Day to now, where Tom Miller’s spokesman is saying that they’re “hoping that we can do this by year end.” The remaining AGs hammering out this settlement remind me of the Japanese soldiers holed up in mountain redoubts in the 1950s still fighting World WAr II because nobody told them it ended.
|By: Blue Texan Sunday September 4, 2011 12:30 pm|
I naively thought Obama’s offering to cut Social Security, Medicare and Medicaid would put an end to the “liberals are being unfair to Obama” genre, but Jonathan Chait (heh-indeeded by John Cole) published another one in the New York Times magazine today.
It’s full of problems, but I want to focus on this one — because it’s so obviously wrong.
|By: Scarecrow Sunday July 31, 2011 8:23 am|
There were no guests to represent the victims of this deal, and there will be tens of millions of them. CNN invited no one who could explain or argue what a terrible deal this would be for the nation. The nation’s economy, the elderly, the poor and the unrepresented are about to take a serious drubbing, but thank the gods both Democrats and Republicans, Congress and the President will willingly administer the beatings and continue them until morale improves.
|By: David Dayen Tuesday April 12, 2011 5:12 pm|
I have to chuckle at the lipstick that the Senate Appropriations Committee put on their pig of a budget deal for 2011.
|By: Jon Walker Monday February 28, 2011 2:40 pm|
President Obama’s re-election is going to hinge on the top issue with voters, and that is jobs and the economy. Seven hundred thousand jobs can easily be the difference between Obama winning a close election thanks to a steadily recovering economy with official unemployment dropping to 7.9 percent by November 2012, and Obama losing because the economy seems to have effectively stalled with unemployment at 8.4 percent.
|By: Jon Walker Thursday December 9, 2010 12:40 pm|
Paul Krugman came to the conclusion that the Obama-McConnell tax deal could end up hurting President Obama’s 2012 re-election bid by reducing growth rates in the critical months leading up to the election.
|By: Scarecrow Tuesday September 7, 2010 9:52 am|
Former OMB Director Peter Orszag gives us an absurd argument for why we should extend Bush tax cuts for the richest two percent of Americans for another two years but end the Bush tax cuts for everyone by 2013. To get there, Orszag has to ignore both economics and fairness and use logic and political arguments only when convenient.
|By: Jim White Monday September 6, 2010 5:45 pm|
Over the next few weeks, we will learn what the Obama Administration intends to do in response to the economy not recovering as promised with the 2009 stimulus. Today’s developments on that front are profoundly disappointing.