Brain candy for the commute home

It has been a tough day and you deserve a break. In a world where you are bombarded with negative news every minute it pays sometimes to step back and smell the roses. I am guilty of spreading some of the bad news but I think is better to be safe than sorry.
Here are the good news. First, every day I will compile for you few articles that you should read on the way home, if you are not driving, or at home. They will be related to economics but I will try to pick articles that put things into perspectives. The title of the section will always be the same ” Brain candy for the commute home”. Second, every morning I will have a new section “While you were sleeping” in an attempt to give you a quick snap shot of overnight action. Think of it as your free ristretto shot for the day. Finally, there are some good news in the articles for today.

Here are the articles for today.
The first article comes from professor James Hamilton of U of San Diego. It could be the sun down there but professor Hamilton shows that US is not yet in recession and in fact things are not that bad, relatively speaking. Read it, it will give you hope.

The second article is written by professor Robert J. Shiller, “The Beauty Contest That’s Shaking Wall St.“, and gives a very original interpretation of recent volatility in the financial markets.

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