Richard Posner's New Blog Is Up & Running
As promised in his latest book, A Failure of Capitalism, Judge Posner has launched a new blog in which he will expand upon the book's argument as events unfold. The first post appeared today.
He observes that events since February, when he finished the book, have not "alter[ed] the basic analysis and conclusions in my book." He cites data showing that the economy is continuing to decline, "but there is evidence that the rate of the decline has slowed" (his emphasis).
He refuses to speculate on whether we have hit bottom. My own (very impressionistic) sense is that we have, and that we're seeing more and more signs of impending recovery. I hope I'm right about that.
4 hours ago