Ukraine and the IMF: The Economic Impact of Proposed Reforms

Written by , Morss Global Finance

Under pressure from the US and EU countries, The IMF has just thrown Ukraine a bailout “lifeline”. But there are strings attached. In what follows, I intersperse (1) quotes from Nikolay Gueorguiev, the IMF Ukrainian Mission Chief for Ukraine, following negotiations for the bailout with (2) my comments.

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GDP Data and the CBO Outlook

March 30th, 2014
in gdp

by Menzie Chinn,

Appeared originally at Econbrowser 05 February 2014
Caption illustration added by Econintersect.

The output gap remains large, even as the external sector supports growth; this outcome is partly due to excessively rapid fiscal consolidation

Economic Slack, Now and Next Year

The CBO released Budget and Economic Outlook on Tuesday 04 February 2014. As part of the report, the CBO released its estimates of potential GDP in a manner consistent with the new GDP measures that incorporate intellectual property in the investment data. The output gap remains large and negative, using these updated estimates.

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Norman Rockwell Made A Fortune, But He Could Have Made More

Written by , Morss Global Finance


From very early on, Norman Rockwell wanted to be an artist. At 14, he took classes at the Art Students League of New York and later at The New York School of Art. At the Art Students League, he was mentored by Thomas Fogarty. It paid off: while still in his teens, he was hired as art director of Boys’ Life, the official publication of the Boy Scouts of America.

Throughout his life, Rockwell was a prodigious worker. He produced 4,000 original pieces with many of them oil paintings. Rockwell was not the stereotypical artist who “struggled to make ends meet”. He died in 1978 leaving an estate worth more than $24 million in 2013 dollars. This article documents how he made his money. It also suggests how he could have made more.

We start at the end and work backwards.

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Looking for Evidence of an Economic Growth Spurt

Written by 

I continue to be amazed at the continued press being given to OPINION of folks indicating the USA economy is about to pick up. Is there any evidence that an economic pickup is on the table?

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BEA Boosts GDP Growth Estimate

March 27, 2014 - BEA Revises 4th Quarter 2013 GDP Growth Up Slightly To A 2.64% Annual Rate

by Rick Davis, Consumer Metrics Institute

In their third estimate of the US GDP for the fourth quarter of 2013, the Bureau of Economic Analysis (BEA) reported that the economy was growing at a 2.64% annualized rate, up .27% from the 2.37% growth rate previously reported - but still down sharply (-1.53%) from the 4.19% reported for the 3rd quarter. The improvement in the headline growth came almost entirely from the BEA's reassessment of consumer spending on services (adding .57% to the headline number, mostly from increased spending on health care). 

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