I will be returning the MacBook Pro today or tomorrow and will not be posting until I have my new computer, scheduled for delivery late next week. The only other functioning computer in the house is a netbook that is not suitable to the task.
One of my first posts upon return will be to update the outlook for "animal spirits." With the economy and confidence as weak as they already are--more than half the American public believe we are in a recession or a depression now (take that, you NBER fools!)--the only question that matters in macro forecasting is when confidence will fail. Everybody's best guess: 2013.
Inequality continues to increase, as those above punish those below, and a more complete unraveling of the social contract awaits. My hope is that the mythology of "free markets" and "private property" will be replaced by a commitment to "capitalism operating within a moral framework," including a just "welfare maximizing" distribution.