As Goes California So Goes the Nation?: Paul Krugman, optimistic as always, worries that it might be so. He points to the shrinking and increasingly extreme ranks of the Republican party to explain why it will be especially difficult for the state to climb out of the fiscal hole--a scenario he can easily foresee playing out at the national level.
Back to the Future: Unemployment may be higher than 8 percent and GDP growth less than 2 percent, Bloomberg is predicting, heralding in a new era of frugality in America. That would be less terrifying if one of their sources hadn't likened it to a scene out of Leave It to Beaver. “Life wasn’t so bad for the
Still Free Falling: Home prices are still tumbling and show no sign of stopping, according to new data released today.
Death to Pennies!: Wired writer David Wolman makes the case for a cashless society. The gist: "Physical currency is a bulky, germ-smeared, carbon-intensive, expensive medium of exchange. Let's dump it."