On The Economic Populist you might have noticed the middle column. We try to list other sites and blogs who have exceptional insight and writing on what is happening in the U.S. economy.
Sometimes though, one cannot say it better but miss those who did.
Must Read Post #1
The Altanta Fed blog looks at Gross Domestic Income (GDI) and notes it's correlation to GDP and this recession's divergence.
history suggests that when these two measures of national output disagree, GDP tends to get revised in the direction of GDI and not the other way around. So, if this relationship holds, it would be prudent not to dismiss the latest divergence in the two measures because it suggests that the decline in national output has been more protracted, and the recovery (through the third quarter 2009) more modest, than what is being reflected in GDP.
Must Read Post #2
More coming out on Lehman Brothers with a whistleblower Matthew Lee letter:
Sarbanes Oxley requires the CEO and CFO to certify the published financial statements (which must adhere to SEC standards) and the adequacy of financial controls. So the issues that Lee raises point to multiple Sarbox violations.
Must Read Post #3
Zero Hedge has up Edolphus Towns's letter to the Federal Reserve on why Goldman And Ex-Fed Board Member Stephen Friedman Illegally Bought Shares Of Goldman In December 2008. Get that?
Must Read Post #4
Paul Krugman has a post, Who Woulda Punk'd it where he illustrates the absolute disdain lobbyists have for the people and for government.
Menzie Chinn wonders what constitutes a punk staffer, after John Boehner told bankers, “Don’t let those little punk staffers take advantage of you and stand up for yourselves”.
What Menzie doesn’t understand is that this is how bankers think of anyone who stands in the way of their God-given right to have whatever they want.