Clik here to view.
The Money Illusion is back!
Good news — there’s bad news.The Money Illusion got off to a good start in early 2009. All I had to do is to point to the obvious fact that monetary policy was far off course. By the mid-2010s, things...
View ArticleHow high do rates need to go to control inflation?
The FT has a good article discussing the views of James Bullard and Christopher Waller on Fed policy: In a statement released on Friday, Bullard, a voting member of the policy-setting Federal Open...
View ArticleClik here to view.
Hong Kong is weird
In most countries the old are more likely to get vaccinated. In Hong Kong the old are far less likely to get vaccinated. As a result: This FT article has the full story. China might be next, as they...
View ArticleMatt Yglesias on monetary policy
Matt Yglesias has an excellent post on how to think about the current overheating in the US economy. Here are a few excerpts: So NGDP, even though it’s a bit of an unfamiliar indicator, is also a very...
View ArticleClik here to view.
The new Democratic Party
The typical Dem used to be a blue-color worker in someplace like Youngstown, Ohio. Now the party gets more votes from well-educated coastal cities. From that perspective, the following graph doesn’t...
View ArticleArticles of interest
1. So it seems that Clarance Thomas’s wife is one of those QAnon nuts. The NYT claims that she was at the January 6 rally and encouraged Trump officials to stop an elected President from taking...
View ArticleA weird omission
The Financial Times has a story on the recent depreciation of the Japanese yen. Here’s the intro: The yen dropped to a seven-year low on Monday as the Bank of Japan bucked the global trend for tighter...
View Article“the Fed intends . . .”
This Bloomberg story is pretty discouraging: The Fed needs to slow an economy that is “clearly overheated” as it comes out of the pandemic, said Krugman, a City University of New York professor....
View ArticleClik here to view.
Sadly, Tyler Cowen is likely correct
Tyler Cowen has a new post entitled: Who gains and loses status from the war in Ukraine? Among the names mentioned is former president Obama, who famously dismissed Mitt Romney’s warnings about Putin...
View Article100% of excessive inflation is due to bad monetary policy
Always. This shouldn’t even be debatable. I don’t know of any respectable theory (monetarist, Keynesian, Austrian, etc.) where this is not true.And yet according to this recent Vox article, economists...
View Article