All About the Benjamins

Check out this link for a notice from the Fed about the new $100 bill. be sure to click through to the exciting video highlighting the features of the new bill. Great fun!

Something I like about Paul Krugman

While Krugman agonizes over the Bernanke Conundrum, he says Bernanke has been assimilated by the banking Borg. Gotta love a geek, I say in an entirely self-serving way. I don't agonize over the decision of whether or not to keep Bernanke. I don't trust him to take the right side between bankers and workers (in other words, I think he's been assimilated by the banking Borg). Krugman himself would be better, as Simon Johnson argues. I think he's probably the best of the could-happen category. My favorite in the wish-it-could-happen category is Jim Crotty.

Mankiw brings the funny

By pointing us to Colbert on the Fed. Thanks, Greg!

Industrial Production Up, But Not By Much

The Fed released its Industrial Production and Capacity Utilization report today, showing the first increase in production since December 2007 (other than a hurricane-related bump last October). Probable sign of a turnaround, yes, but overall production is down over 13 percent since last July. Consumer goods is least worst with a mere 7.2% drop. And capacity utilization (roughly: actual production divided by potential production), at 68.5%, is still just above its lowest level in the 45 years reported in the accompanying charts. We're in a deep hole, which will take some time to climb out of.