The Traderszone Network

Back in early 2009, many economists seemed to move away from New Keynesian ideas, back to the so-called “vulgar Keynesianism” of the 1950s and 1960s.  Recall that by the 1990s, the NKs accepted many ideas from the monetarists:

1.  Monetary policy determines the path of NGDP, and thus fiscal countercyclical policy is useless.

2. Wages and prices are flexible in the long run, and hence the economy eventually adjusts back to LRAS curve.  Demand side policies only have a short-term impact on output.

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More US autosales data trickles in
Still waiting on GM and a handful of smaller carmakers.

Stock futures were mixed Tuesday, but had improved sharply a half-hour ahead of the start of regular trade. Dow futures traded down 12.9 points, up from a 98-point loss an hour earlier. S&P 500 and Nasdaq 100 futures had reversed and climbed into positive territory, with S&P 500 futures up a fraction and Nasdaq 100 futures ahead 4.1 points.

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U.S. stock index futures pared losses to point to a mixed open as oil struggled for gains amid pressure from jittery Chinese markets.

Items ordered from Amazon on Cyber Monday rose more than 40 percent this year, exceeding 23 million for the first time. The Seattle company said Tuesday that in 2015, it delivered more than a billion items …

DALLAS (AP) — Even the escalating tension between Iran and Saudi Arabia, two big oil-producing countries, can’t halt the slide in energy prices.