The Reason That Recession Dates Matter

Asked to define a recession, you can give the mechanical answer. It is 2 or more adjacent quarters of a real GDP decline. So, if Q1 GDP grows by 3%, Q2 by 2% and then Q3 by 1%, is that a recession? (I…

One Reason to Quit A Job

Have you ever gone through a series of phone messages that finally take you to the department you need? Then, after 5 minutes, 10 minutes, 15, no one picks up and you start to wonder if you should han…

Humor in Fed Transcripts

Below, just a reminder of one piece of the Great Recession before looking at the Fed transcripts. Lehman Brothers is the orange line.   With a typical 5-year lag, the transcripts of the 2008 Fede…

Economic Coloring Books

To what extent are you a freshwater or saltwater economist? Several coloring books might help you decide. But first, some background… The original homes of the freshwater economists were the Uni…

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