A couple of quick items this morning:
- I do not think you have to be an economist to figure out that things are bad out there. In spite of Republican calls to slow down, I think we need to speed up. Housing starts for January were down over 50% compared to January 2008.
- President Barack Obama unveiled a $75 billion package to help prevent foreclosure on millions of homeowners. I’ll have to look at the details but it appears that this will help homeowners refinance their mortgages in order to make their payments easier. You can find the executive summary here.
- The Federal Reserve issued its annual report, forecasting the behavior of the economy for the next three years. The outlook is, of course, not good.
- For reasons that continue to escape me, people still listen to Alan Greenspan. He told the Financial Times yesterday that we need to look at some way of nationalizing the banks. I completely agree that this has to be done, but what took Greenspan so long?
- Finally, Time magazine has come out with its list of the 25 most influential (best) blogs of 2009 and somehow the Daily Kos is not on it. Some of my favorite blogs do make the cut, including the Huffington Post, Crooks and Liars and Talking Points Memo. I would argue that the Daily Kos has changed the game like no other blog and has done so for the past six years. I’ll have more on this later.