The Undismal Weekly Wrapup -- June 21-27, 2009

Analytical Summaries of Key Stories of the Week on Economics and Public Policy

A Funding Roadblock Ahead for Clean Energy (New York Times)
Kate Galbraith of the New York Times explores the question of what will happen to efforts to finance green energy projects “once the stimulus funding runs out.”

Analysis: Obama Scores Major, Much-Needed Victory (Associated Press)
News analysis piece by AP’s Liz Sidoti on the House of Representatives passing “the first energy legislation ever designed to curb global warming.” Also explores the implications of this legislative success for President Obama’s healthcare efforts.

Betraying the Planet (New York Times)
Renowned economist Paul Krugman scolds the 212 House of Representatives members who voted against the Waxman-Markey climate change bill, characterizing them as climate-change deniers who are committing what is tantamount to “treason against the planet.”

Can Governments Till the Fields of Innovation? (New York Times)
The dicey question of whether governments can play an effective role in driving the private sector toward creating new industries in such areas as energy and healthcare to revitalize the economy and create jobs is explored in this report from Steve Lohr of the New York Times.

Confidence in Stimulus Plan Ebbs, Poll Finds (Washington Post)
A new Washington Post-ABC News Poll finds that barely half of Americans remain confident that the stimulus package will be effective in turning the economy around, according to this report by Washington Post staff writers Dan Balz and John Cohen.

Inflation – The Real Threat To Sustained Recovery (Financial Times / Tehran Times)
Former Fed Chairman Alan Greenspan cautions that failure to pare back the U.S. federal budget deficits and pubic sector debt after the economy turns around could set the stage for inflation and stifle the effectiveness of private market forces in efficiently allocating resources, in this Financial Times column reprinted in the Tehran Times.

The Debt Tsunami (Washington Post)
A Washington Post editorial characterizes the latest long-term U.S. federal budget deficit projections from the Congressional Budget Office (CBO) as “scarier than ever.” Sphere: Related Content

The Undismal Weekly Wrap-Up -- June 14-20, 2009

Analytical Summaries of Key Stories of the Week on Economics and Public Policy

As U.S. Takes Tumble, Growing Cries For Policy (Reuters)
Nick Carey reports that, in the wake of the current economic crisis, not only the general public, but now even corporate leaders are beginning to embrace the concept of an increased role of government in formulating financial, economic, and industrial policies and regulations.

Green Economy Investments Bring 300 Percent More Jobs, Reports Find (Reuters)
Analysis by Matthew Wheeland of reports from Green for All, the Natural Resources Defense Council, and the University of Massachusetts at Amherst's Political Economy Research Institute (PERI) indicates that moving toward a low-carbon, energy efficient economy could create 1.7 million new jobs.

How is Money Created? Debunking Some Myths About Recent Policies to Stabilize the Financial System and the Economy (FindLaw)
Neil H. Buchanan addresses popular misconceptions about current monetary policies in response to the recession, such as the misguided belief that the Fed’s actions are tantamount to “printing money” and pose the threat of hyperinflation.

Public Starting to Question Obama Economic Policies (ABC News)
In a review of several recent polls, Jake Tapper reports on indications of increasing unease among the general public about President Obama’s fiscal policies, in spite of his enduring personal popularity.

South Korean PM Says Threats From Climate Change, Economic Crisis Not Mutually Exclusive (Associated Press)
AP journalist Kelly Olsen reports on comments by Prime Minister Han Seung-soo of South Korea about the threats climate change poses to Asia and the danger of separating this situation from the global economic crisis.

Twin Threat: Jobless Rate, Deficit (Wall Street Journal)
Jonathan Weisman explores the quandary the Obama administration faces in attempting to deal with the often-conflicting goals of stemming the tide of unemployment while also trying to restrain runaway budget deficits.

US FED: Warsh Warns Against Singular Focus On 'Stability Experiment' (Forbes)
Federal Reserve Governor Kevin Warsh has cautioned that policy efforts that overemphasize economic stability could stifle future economic growth, according to this report from Reuters. Sphere: Related Content