Dr. Doom/Roubini, public health care, mancession, and Cash for Clunkers.

Dr. Doom's at it again. I don't share his opinion about the growth "since March." I think the bottom was a bit too low, and at least some of the later stock growth was corrective.

The Boston Globe explains how a public health care option would work in pretty easy terms.

Free Exchange picks up Chris Swann, saying that men aren't necessarily the hardest hit during this recession.

The FRB Cleveland shows us some of the effects of the Cash for Clunkers program. I'd like to see their numbers on slightly longer-term effects.

Recession, employment, risk modelling, and multipliers

The IMF says that things aren't so bad anymore! They're seemingly less bad than previously thought. They credit monetary and fiscal policy, apparently (I wonder how that'll go in the macro debates?). Feel free to check out the video of the press conference and the actual report.

Robert Reich makes sure we know what the employment numbers really mean.

The Baseline Scenario tells us about the problems of risk modelling. VaR = bad? I think people are being too harsh, though a company shouldn't use one model and nothing else to evaluate risk.

Via Thoma, Krugman talks about multipliers. He says 1.5 is a good estimate for right now.

Bailout money, underwear, and good news.

Banks are paying back bailout money, with interest. Sounds like it was a pretty good deal!

Another strange economic indicator: underwear. The worse times are (and, presumably, the less money you have), the more willing you are to wear tattered underclothing. Who's gonna see? Also, people attempt to cut their own hair (with hilarious results).

Some regions are seeing potential growth! Seems a little early to be sure, though. Building contracts are up in the Houston area.

There is now increased productivity. Not a surprise, really. When firms lay people off or slow hiring (as they have been doing), they presumably hold on to more productive people in order to achieve this very effect--higher productivity at proportionally lower costs. This goes hand-in-hand with higher profits, which leads to all sorts of benefits in the economy. Yet another sign that we're in recovery mode.

Water, TARP, incentives, and Austin.

Here's an interesting article on the issue of water in Latin America.

Here's a look at TARP funds--they were actually used to make loans! Some were afraid this may not be the case for very much of the funds.

A TED talk (those things are great) by Dan Pink, former speechwriter for Al Gore. He talks about incentives, and how they can hurt. Also follow the links for similar talks by Dan Ariely.

Austin, TX looks like it's going to rebound this year, too. News for Texas looks relatively rosy.