Interactive Map of the 2010 U.S. Census

Google has finished an amazing project of Mapping the 2010 U.S. Census, published in the New York Times.  Click on the link for a fascinating graphic showing what's happening across the US! - David

It's Not Easy Managing Green (the Money Supply, Interest Rates, Inflation...)

Big Ben

As mentioned in this article from New York Times (a source seldom quoted by this blogger), Ben Bernanke's Fed Panel Is Divided on Direction.  Seems "too little too late" is the new "too much too soon" when it comes to his attempts to "manage" interest rates and inflation.

Granted, it's a thankless job.  But monetary theory, the antithesis to Keynesian economics (whose theories the current administration has conclusively disproved), tells us that these economic factors are the results of supply and demand.  These may be positively influenced by communicating clear policies and sticking to them.  Ultimately, however, they are set by the market, meaning that attempts to manage them require market intervention, which tends to be costly and short lived. - David

Meltdown Post Mortem Ad Nauseum

The Fed continues to be grilled over whether it caused the mortgage meltdown via low interest rates, or allowed it via lax bank supervision.  Here's the latest:  Fed Transcripts Stoke Debate on Rates - NYTimes.com. 

So what's the answer?  They allowed it via lax bank supervision.  Those insisting the Fed caused the mortgage meltdown via encouraging low short-term interest rates don't understand (or don't want the public to understand) basic macroeconomics, and like to imply that the Fed has more influence on mortgage rates than it does.

As Values Slide, More Weigh Walking Away From Mortgages - NYTimes.com

Where home values have slid to 75% or less of their mortgage, more are considering "walking away," meaning leaving their home for the lender to take back in foreclosure. 

As Values Slide, More Weigh Walking Away From Mortgages - NYTimes.com

This is less the case in the South Bay than in many areas, but it's a trend worth watching.  Banks are certainly not using TARP money to help these homeowners stay in their homes, resisting short sales and loan modifications like the plague.  But short sales are possible, and the consequences with respect to one's credit are less than a foreclosure. - David