James Annable

The economy is not in a recession. This economy had enormous spending imbalances that it had to work out.

The economy is not in a recession. This economy had enormous spending imbalances that it had to work out.

They wanted a big splash today. And they got it.

They wanted a big splash today. And they got it.

Everything was out of balance and part of figuring out where we are now is figuring out where we were read more

Everything was out of balance and part of figuring out where we are now is figuring out where we were and how many imbalances were built into the economy.

They will be cutting (rates) until they get some signs of rebound,

They will be cutting (rates) until they get some signs of rebound,

There are enormously long lags from a change in exchange rates to impact on production and employment. ...The dollar has read more

There are enormously long lags from a change in exchange rates to impact on production and employment. ...The dollar has already weakened and frankly this kind of move isn't going to matter very much.