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Matthew Yglesias

Matthew Yglesias - Matthew Yglesias is a fellow at the Center for American Progress Action Fund.
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Matthew Yglesias is a fellow at the Center for American Progress. His first book, with the working title Heads in the Sand: Iraq and the Strange Death of Liberal Internationalism, scheduled to be published next spring by John Wiley and co., deals with the Democratic Party's struggle to find a post-9/11 foreign policy, focusing primarily on the rise and (hopefully) fall of the liberal hawk movement.

Previously, he was a staff writer at The American Prospect and an Associate Editor at TPM Media, where he contributed to the group blogs Tapped and TPMCafe. His main blog, now at The Atlantic, has existed in various forms since the dark ages of the blogosphere in January 2002.

His writing has appeared in The Guardian, Slate, The New Republic, and The Washington Monthly, and he is a regular on BloggingHeads.tv and makes the occasional radio or television appearance.

Desperately out of touch with the American mainstream, Yglesias was born and raised in Manhattan and studied philosophy at Harvard where he was editor in chief of The Harvard Independent, a campus alternative weekly.

His latest writings can be found on the Matthew Yglesias blog.

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Down We Go

By Matthew Yglesias

Apr 17 2008, 8:44 AM ET Comment

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That chart's via Brad DeLong. Certainly isn't a good time to be in the construction business. In principle, things should all rebalance -- as the dollar falls, net exports rise, and employment shifts out of the construction sector and into exporting or import-competing sectors and the trade deficit narrows. But in the meantime, the friction imposes great hardship on folks who lose their jobs and need to find new ones.

I suppose you could say the good news here is that a very sharp decline in new construction is the scenario most consistent with prices for existing homes not collapsing. The population is going to continue to grow, after all.

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