Gas Prices Lower TodayThan a Month Ago
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Monday, May 23, 2011
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.
Previous Posts
- Monday Morning Links
- World Trade and Output Have Fully Recovered
- Labor Arbitrage is Disappearing for Outsourcing M...
- Consumer Sovereignty Illustrated
- Thailand's Train Track Market
- Statistics on the Amazing Volume of Online Activity
- Here's One Way to Eliminate Ticket Scalping
- What Recession? Miami Tourism Soars in 2010
- Current Intrade Odds to Run for President
- Markets in Everything: Post-Rapture Pet Rescue
7 Comments:
Yay. Obama has saved us.
/sarc
Interesting that the feds did not tap the U.S. strategic oil reserves. This was the recommendation by many econ pundits, to skew supply and demand.
Yep, we went from 3%+ Economic Growth at the beginning of January to, basically, "flat."
And, our reward is $3.83/gal gasoline.
Look at the end of 2007, early 2008; when gasoline goes over $3.50 the economy starts slowing. When it goes over $4.00 we're through.
The "Oh S..t" moment will be when we drop into recession, and gasoline Does Not go below $3.50. Not saying it'll be "this time," but it will happen, eventually. Could be next time.
Let me posit, this: We should no longer be looking for the "perfect" mitigation, or even a really, super-duper great mitigaion. We better be looking for the "Fastest" mitigation; because, the fact is, they All will require several(in some cases, many,) years.
You're welcome!
Robert Mundell, a big conservative monetarist, is now talking deflation.
http://online.wsj.com/article/SB10001424052748704816604576335250426158790.html?mod=googlenews_wsj
Mundell won a Nobel Prize, and might--just might--not be fooled by a phoney CP.
Deflation, at a time when we, seriously, need to "grow the economy:"
It doesn't get any scarier than that.
Rufus: Why fear? It means the Fed has the field wide open to go to QE3, and start charging interest on reserves, instead of paying.
The right-wing has lost its marbles, when they call for tight money in a deflationary environment.
Oil tanking today, btw.
What it means is that the Fed has lease to start a boom, and no worries about inflation.
The fear is that Bernanke is quaver.
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