Month: May 2010

The Immigration Debate

I have said all that I wish to say about immigration in a 3.5-year-old post at Liberty Corner. (Warning: Some of the links may no longer work.)

P.S. Be sure to read this relevant and thoughtful post by Eugene Volokh.

Is the Recession Still On?

Yes, by my definition of a recession:

  • two or more consecutive quarters in which real GDP (annualized) is below real GDP (annualized) for an earlier quarter, during which
  • the annual (year-over-year) change in real GDP is negative, in at least one quarter.

Here’s how real GDP has fared from the first quarter of 1947 through the first quarter of 2010 (recessions are denoted by vertical bars):

This picture is misleading, of course, because it fails to depict the length and depth of America’s mega-depression, which is now more than a century old and deepening every day.