Real pain

The Economist's Free Exchange blog has a post on what lessons we can learn by trawling Wal-Mart's database.

For the first time the company is seeing a paycheck-related spike in purchases of baby formula, suggesting some real teetering out there.

The FT on Keynes

On the contrary, he argued, the economic expansion should be seen as the normal state of affairs and the downturn was an “extraordinary imbecility”

HT: Paul Kedrosky