Farewell. The Flying Pig Has Left The Building.

Steve Hynd, August 16, 2012

After four years on the Typepad site, eight years total blogging, Newshoggers is closing it's doors today. We've been coasting the last year or so, with many of us moving on to bigger projects (Hey, Eric!) or simply running out of blogging enthusiasm, and it's time to give the old flying pig a rest.

We've done okay over those eight years, although never being quite PC enough to gain wider acceptance from the partisan "party right or wrong" crowds. We like to think we moved political conversations a little, on the ever-present wish to rush to war with Iran, on the need for a real Left that isn't licking corporatist Dem boots every cycle, on America's foreign misadventures in Afghanistan and Iraq. We like to think we made a small difference while writing under that flying pig banner. We did pretty good for a bunch with no ties to big-party apparatuses or think tanks.

Those eight years of blogging will still exist. Because we're ending this typepad account, we've been archiving the typepad blog here. And the original blogger archive is still here. There will still be new content from the old 'hoggers crew too. Ron writes for The Moderate Voice, I post at The Agonist and Eric Martin's lucid foreign policy thoughts can be read at Democracy Arsenal.

I'd like to thank all our regular commenters, readers and the other bloggers who regularly linked to our posts over the years to agree or disagree. You all made writing for 'hoggers an amazingly fun and stimulating experience.

Thank you very much.

Note: This is an archive copy of Newshoggers. Most of the pictures are gone but the words are all here. There may be some occasional new content, John may do some posts and Ron will cross post some of his contributions to The Moderate Voice so check back.


Tuesday, August 30, 2011

Roubini Explains QE3

By John Ballard

Short and sweet.

Ie QE3 near certain in Sep given worse macro."Some Fed policy makers favored �more substantial� action during Aug meet" http://t.co/WOlzokn

The issue is not if/whether the Fed will go for QE3 but only when. Most likely the first step will be on Sept 21st at the next FOMC meeting. As i twitted a year ago at the time of QE2 we will have next QE3, QE4 and eventually possibly even QE5. The latest column by Martin Wolf "Struggling with a great contraction" about the persistent recession in the G7 http://t.co/mNDnfLH. Its mostly semantic if you call it a Double Dip or a Big Dipper (continuation of the 1st contraction) or the Second Dipper (a new recession).  Yes; that's why we need fisc stimul

@gcamilo:don't you find probable that w/o fiscal stimulus QE3 will not raise AD & just become reserves?

Saying we will see QE3 is a "positive" statement (matter of fact) not a "normative" one (matter of value judgement)  In absence of other policy rabbits/bullets - fiscal stimulus, currency depreciation, bank bailout, debt reduction - QE is the 1 bullet left.  QE3 can take many forms:

  • Trsry's purchases

  • lengthen maturities

  • reduce IRER 

  • price 

  • or inflation 

  • or nominal GDP 

  • or 10yr Treas yld targeting


And I might add, it's about the only measure anyone (read "Bernanke/Obama") can take that the GOP cannot block. They know that anything that hurts the economy is good for them in 2012.

(I just learned last week that this so-called "August break" for Congress isn't really a break at all. The Senate is convening pro forma so that the president cannot make any recess appointments. That's how checks and bvalances now works in Washington. These are the sanctimonious SOB's who prate about Constitutional principles.) 

UPDATE (Already)

Nouriel you forgot one bullet...prayer apparently is the main economic tool for many on the right.  

Indeed, "Hallelujah & Amen! "

1 comment:

  1. "These are the sanctimonious SOB's who prate about Constitutional principles."
    I'm not into defending anything Republicans do, but Democrats did precisely the same thing to prevent Bush from making recess appointments.