Carl Bonham
US economy reaches pre-recession peak
Almost four years after the start of the great recession total output of goods and services in the US has surpassed its pre-recession peak. The Bureau of Economic Analysis first estimate of Q3 2011 real GDP (in 2005 dollars) was $13,352.8 billion, just slightly higher than the $13,326.0 billion in Q4 2007. After falling by […]
Read MoreUHERO Executive Director Elected to AUBER Board
UHERO Executive Director and Associate Professor of Economics Carl Bonham has been elected to the Board of Directors of AUBER—the Association for University Business and Economic Research. AUBER is a professional association of business and economic research centers in public and private universities. Founded in 1947, it strives to unite its members in the shared purpose of advancing economic […]
Read MoreQ&A: Fed Act to Lower Mortgage Rates
1. THE FEDERAL RESERVE MET FOR A TWO DAY MEETING ON TUESDAY AND WEDNESDAY. AFTER THEIR MEETING, THE STOCK MARKET FELL SHARPLY WEDNESDAY AFTERNOON AND THURSDAY. WHAT DID THEY DO! The Federal Open Market Committee (FOMC) met on Tuesday and Wednesday to discuss the state of the US economy and to decide on monetary policy […]
Read MoreFed acts to lower mortgage rates
The Federal Open Market Committee (FOMC) met on Tuesday and Wednesday to discuss the state of the US economy and to decide on monetary policy actions. This meeting is a particularly interesting meeting because of the clear signs of economic weakness over the past six months and the relatively new phenomena of the direct political […]
Read MoreIn Weak Economy the Fed is prepared to act
The US Bureau of Economic Analysis released a downward revision to its estimate of second quarter Gross Domestic Product this morning. They now estimate that the US economy expanded at a 1.0% annualized rate during the second quarter, down from 1.3% in their advance release The primary factors leading to the downward revision were a decline in […]
Read MoreHawaii Tourism Faces Challenging 2011
A little more than half way through 2011, Hawaii finds itself facing more economic uncertainty as the EU and US economies deal with slow growth, financial market volatility, and nervous consumers. What a disappointment given the early prospects for a year of strengthening tourism. But early in the year the tourism outlook was tarnished by […]
Read MoreWashington Ignores the Real Crisis
The US Bureau of Economic Analysis released second quarter data on the nations Gross Domestic Product this morning. Given all of the mixed economic news over the past several months, it does not come as a big surprise that this advance GDP estimate was very weak. The US economy expanded at a 1.3% annualized rate during the […]
Read MoreGang of Six vs Cap, Cut, and Balance
It was a busy week in Washington as Congress has struggled with potential solutions to the looming US debt ceiling crisis. Two very different plans have floated to the surface. First, the so called Gang of Six has revived a version of the Bowles-Simpson bypartisian deficit reduction plan. They have widespread support in the Senate […]
Read MoreQ & A: What’s the problem in Europe?
1. THE DEBT CRISIS IN EUROPE SEEMED TO GO FROM BAD TO WORSE. WHAT’S THE PROBLEM? The European Union is still trying to solve the problem of very large government debt burdens of a number of countries. Greece is at the center of the crisis. They have an accumulated net debt of more than 140% […]
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