Monetary policy and housing

How important was the Fed for the housing boom?  John Taylor of ‘The Taylor Rule’  thinks the Fed mattered.  He is arguing that the Fed did not follow the appropriate short-term interest rate rule.
Housing and Monetary Policy
Abstract
Since the mid-1980s, monetary policy has contributed to a great moderation of the housing cycle by responding more proactively [...]

This week

I handed my grades in.
I got a promotion.
We bought a new car—red, and fancy!
Major health scare—less scary today—but still of some concern.
We saw Santa.
L.’s first school play.  She was great.
We got better at the Wii.
Deposit on a trip to Disney.

Being alive and human is hard.  But soooo worth it.

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Almost 7 year old + small santa hat + tree decorating=crazy cute.

And the decorations are not all bunched on one branch!
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Ben Stein

really gives economists a lot of unwarranted credit.  I didn’t think he was funny in the movies, either.
The Long and Short of It at Goldman Sachs – New York Times
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