The upshot of Mr. Trump's economic policy positions under almost any scenario is that the U.S. economy will be more isolated and diminished.

They called me the sexiest economist in America, and that was years ago, when I had hair and body mass and my teeth were shiny.

The Obama administration deserves credit for quickly ending the housing free fall. In particular, Obama empowered the Federal Housing Administration to ensure that households could find mortgages at low interest rates even during the worst phase of the financial panic.

Buying a home wouldn't make much sense if house prices were likely to decline further; no one wants to catch a falling knife.

An overheating economy, characterized by accelerating inflation and rising interest rates, is another precondition for recession. This doesn't describe today's economy.

There is a banking adage that if it's growing like a weed, it's a good chance that it's a weed.

The most important point is, in a time of crisis, there is no way out but for the government to be bold and aggressive.