Never one to pass up a good challenge, I’m digging deep to find that special something that’s sexier than price discovery. Can you see the beads of sweat on my forehead?
So many to choose from this week . . .
From a humbled Ben Bernanke to a Congressional brouhaha over taxes, it was another week of uncertainty about the economy and ongoing debate about what policymakers didn’t do right, aren’t doing enough of, and should do as soon as possible.
The Congressional Budget Office released its “long-term budget outlook.” The good news: “Budget deficits will decline markedly in the next few years.” The bad? With an aging population and growing health care costs, “the budget outlook for both the coming decade and beyond is daunting.”
What should Washington do? Well, Paul Krugman reminded his readers (again) of his faith in John Maynard Keynes and former IMF economist Simon Johnson warned that short-term budget cuts would slow a recovery. Then again, the Economist says that Ben Bernanke’s “[reluctance] to act” is slowing a recovery.
Congressional Republicans walked out of budget cut talks because Democrats insisted on tax hikes on corporations and wealthy Americans. House Speaker John Boehner then told reporters that the House will never pass a tax increase. (Felix Salmon laments that this doesn’t help the government’s fiscal credibility, but David Henderson argues that the problem really lies with President Obama’s “hostility to business.”)
And on a slightly different note, the folks at Freakonomics posit the theory that gender inequality started with the plow—it has to do with upper body strength, apparently—and a LinkedIn survey claims that “men are savvier online professional networkers than women.” For now, anyway.
. . . And just like that we’ve finished the weekly roundup. Whadaya know.