WP – “More than 14 percent of borrowers were in trouble on their mortgage during the third quarter, a new record, according to an industry survey released Thursday, which also suggests that the foreclosure rate is likely not to peak until next year as unemployment rates continue to rise.”
Share
FT – “Growth in the world’s industrialised economies has resumed after the most virulent recession for decades, the Paris-based Organisation for Economic Co-operation and Development said on Thursday. But it warns that unemployment is set to continue to rise well into 2010 and to fall only modestly the following year from a peak of over 9 per cent.”
Gary Becker – The Becker-Posner Blog – “The best solution to reducing the real burden of the public debt is neither inflation nor higher taxes, but more rapid growth of the American economy. This involves lower, not higher, taxes on investments and incomes of small and large businesses. It also requires greater concern about the fact that the US is falling behind many other countries in the proportion of its young population, especially males, who receive a higher education.”
WP – “Bernanke, offering his most detailed assessment of the economy in months, laid out a relatively gloomy prognosis for 2010. He said he believes that ‘continued growth next year is likely.’ But, he added, ’some important headwinds — in particular, constrained bank lending and a weak job market — likely will prevent the expansion from being as robust as we would hope.’”
“Too Big to Save?” with Robert Pozen
by Cord Blomquist on November 20, 2009
in Economic Commentary