Tyler Cowen

Recently the FT's Ed Luce spent some time with families in Minnesota and Virginia and concluded that we're pretty much done for. The American Dream, Luce says, has become "America's Fitful Reverie." His article is worth reading in full; in fact, it's the best summary of the decline argument that I've read.

Of course, whether or not Luce is right is another question entirely.

CNNMoney.com has an informative piece on the deflation threat today, featuring quotes from economists familiar to readers of various econ blogs. Why do many economists believe deflation is a bad thing? Because,

The Guardian's Jon Ronson profiles Paul Davies, the Arizona State Univerity scientist who chairs the SETI (Search for Extraterrestrial Intelligence) Post-Detection Task Force. SETI, the brainchild of Frank Drake and Carl Sagan, has been active for almost 50 years. So far, nothing.

The Guardian's Jon Ronson profiles Paul Davies, the Arizona State Univerity scientist who chairs the SETI (Search for Extraterrestrial Intelligence) Post-Detection Task Force. SETI, the brainchild of Frank Drake and Carl Sagan, has been active for almost 50 years. So far, nothing.

The Guardian's Jon Ronson profiles Paul Davies, the Arizona State Univerity scientist who chairs the SETI (Search for Extraterrestrial Intelligence) Post-Detection Task Force. SETI, the brainchild of Frank Drake and Carl Sagan, has been active for almost 50 years. So far, nothing.

The Guardian's Jon Ronson profiles Paul Davies, the Arizona State Univerity scientist who chairs the SETI (Search for Extraterrestrial Intelligence) Post-Detection Task Force. SETI, the brainchild of Frank Drake and Carl Sagan, has been active for almost 50 years. So far, nothing.

Senate majority leader Harry Reid expects to hold a vote to reappoint Fed Chairman Ben Bernanke on January 28. Bernanke needs 60 votes for a second term. Late last week, Bernanke's nomination appeared in jeopardy. But a last-minute triage operation performed over the weekend by White House and Senate Democratic leaders, along with Senate minority leader Mitch McConnell, may have saved the appointment. Expect a nail-biter, with Republicans criticizing easy money and Democrats criticizing the Fed's opacity.