* The Economic Need for Stable Policies, Not a Stimulus [Extended version] (Jeffrey D. Sachs, Scientific American)
The U.S. political-economic system gives evidence of a phenomenon known as instrument instability. Policy makers at the Federal Reserve and the White House are attempting to use highly imperfect monetary and fiscal policies to stabilize the national economy. The result, however, has been ever-more desperate swings in economic policies in the attempt to prevent recessions that cannot be fully …
* Moon: Recessions do happen – 33 since 1850 (David Moon, Knoxville News-Sentinel)
Until the onset of our current economic malaise, it’s been easy to forget that recessions do happen. We had a small one in 2001, but unless you were in a technology field and lost your job, you may not have noticed it.
* Wall Street poised for a mixed opening (Stephen Bernard, News & Observer)
Goldman announced its earnings a day earlier, releasing the results Monday after the market closed.
* Bill on malpractice-suit cap returns (Tim Hoover, Denver Post)
After failing in 2008, supporters of legislation to allow injured patients more money in medical malpractice lawsuits are trying again this year with only five weeks left in the session.
* Call For an Even More Explicit Inflation Commitment (Michael S. Derby, Wall Street Journal)
Fears abound that the Federal Reserves economic recovery efforts may be setting the stage for a massive bout of inflation down the road.
* Short-term bets diverge from asset mix (Arleen Jacobius, Pensions & Investments)
Staying the course: GM Asset Management CEO Nancy Everett doesn’t see changes in long-term expectations.