Carpe Diem on CNBC's "Kudlow and Company"
The CD graph above (from this recent CD post) was featured last night on CNBC's "Kudlow and Company." Here is a video link of the 14-minute segment, the discussion of the graph above occurs at about 4:30.CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Tuesday, January 08, 2008
The CD graph above (from this recent CD post) was featured last night on CNBC's "Kudlow and Company." Here is a video link of the 14-minute segment, the discussion of the graph above occurs at about 4:30.About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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4 Comments:
Nice chart but what caught my eye was the segment titled Recession Risks & Remedies
A recession now could be more likely than not, with Martin Feldstein, National Bureau of Economic Research; Secretary Treasury Henry Paulson; CNBC's Steve Liesman & Joe Kernen
Watching the above segment just makes me shake my head in disbelief. I can't believe that those people who claim to not have seen the current economic crisis coming are actually getting paid.
If history repeats itself as it tends to do from time to time we will see broad public acknowledgment that the economy is heading toward a recession long after the economy is actually in a recession.
Interesting graph despite the lack of representation of the "Alt-A" and "Prime Option ARM" segments that I assume reside inside the "Prime" segment.
The real question NOT capture in this graph is the degree to which "Sub-Prime", "Alt-A", and at least some of the "Option ARM" financed buyers, over the 2003 through first half of 2007 period, drove up (and sustained) housing prices way beyond levels that would have been achieved without the poor underwriting/ill-conceived mortgage product environment fostered by the securitization driven mortgage market that is no more.
Food for thought.
Recession is here. Has Kudlow admitted that? For months he has been in denial about the American economy. Glad I think of him as a mediocre entertainer and not a financial wiz.
This is a good graph. Would be nice to see a breakdown of the rentals (how are those owned?). Are the rental houses double counted (e.g. if the rental is financed with a prime mortgage, is it in both bars)? Is this a graph for just immediate households?
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