A Gentler Slope for the Fiscal Cliff
Evan Soltas explains succinctly the tragic confusion in U.S. fiscal and monetary policy: Federal Reserve Chairman Ben S. Bernanke, taking questions during a February House hearing on monetary policy,...
View ArticleU.S. politics in two sentences
Tyler Cowen: If the two parties fail to come to a deal by Jan. 1, taxes on the average middle-income family would rise about $2,000 over the next year. That would follow a 12-year period in which...
View ArticleDr. Al explains the so-called “so-called fiscal cliff”
Bob Cringely recently posted a December 14th guest essay by economist Dr. Al Wojnilower. I can’t improve on Bob’s introduction – excerpt: (…) Dr. Al started working at the New York Fed two years...
View ArticleSomeone Forgot to Tell California’s Bankrupt Cities About the Golden State’s...
Libertarian editor of Reason magazine Matt Welch sprays bracing ice water on the recent optimistic articles on California’s fiscal mess. (…) For a reality check against premature it’s-back-ulation, I...
View ArticleBurton Malkiel: Bond buyers should be mindful of history
Prof. Malkiel has been for three months CIO of Wealthfront. His recommendations are now being integrated into much-expanded asset classes, managed by the Wealthfront software for 0.25% management fee....
View ArticleThe Bankers’ New Clothes – reviewed by John Cochrane
Why do banks and protective regulators howl so loudly at these simple suggestions? As Ms. Admati and Mr. Hellwig detail in their chapter “Sweet Subsidies,” it’s because bank debt is highly subsidized,...
View ArticleChuck Norris beats Wolfgang Schäuble
Here's excerpts from a recent post by market monetarist Lars Christensen: So far it is has been a remarkable week in the global financial markets. The ’deposit grab’ in Cyprus undoubtedly has shocked...
View ArticleFed Watch: Do Capital Controls Mean Cyprus Has Already Left the Eurozone?
Tim Duy asks: Do Capital Controls Mean Cyprus Has Already Left the Eurozone? (…) If I can spend my dollar in Oregon but not in California, it is really the same dollar? I think not. Is this how the...
View ArticleA simple point about capital controls
More on Capital controls via Tyler Cowen John Dizard writes: Capital controls turn into trade controls, as the locals attempt to find ways to turn hard assets or non-banking services into foreign...
View ArticleWhat really happened in Cyprus: My interview with Athanasios Orphanides,...
Greg Ip, at The Economist, closes with this Q&A: What will the implications be for Europe and the stabilization of the euro zone? This is similar to the blunder in Deauville with PSI that injected...
View ArticleKrugman and I were both wrong about the Fed and interest rates
Tyler Cowen: In 2011 Krugman wrote (and here) Like Bernanke, I don’t believe that the flow of Fed purchases has been an important factor holding bond rates down, and hence don’t believe that they will...
View ArticleHow the Fed Let the World Blow Up in 2008
The Fed transcripts have been released. What was going on inside the Fed was actually worse than we thought. No, they didn’t have a time machine to see exactly how bad it would be, but some members...
View ArticleDr. Al explains the so-called “so-called fiscal cliff”
Bob Cringely recently posted a December 14th guest essay by economist Dr. Al Wojnilower. I can’t improve on Bob’s introduction – excerpt: (…) Dr. Al started working at the New York Fed two years...
View ArticleSomeone Forgot to Tell California’s Bankrupt Cities About the Golden State’s...
Libertarian editor of Reason magazine Matt Welch sprays bracing ice water on the recent optimistic articles on California’s fiscal mess. (…) For a reality check against premature it’s-back-ulation, I...
View ArticleThe Bankers’ New Clothes – reviewed by John Cochrane
Why do banks and protective regulators howl so loudly at these simple suggestions? As Ms. Admati and Mr. Hellwig detail in their chapter “Sweet Subsidies,” it’s because bank debt is highly subsidized,...
View ArticleFed Watch: Do Capital Controls Mean Cyprus Has Already Left the Eurozone?
Tim Duy asks: Do Capital Controls Mean Cyprus Has Already Left the Eurozone? (…) If I can spend my dollar in Oregon but not in California, it is really the same dollar? I think not. Is this how the...
View ArticleA simple point about capital controls
More on Capital controls via Tyler Cowen John Dizard writes: Capital controls turn into trade controls, as the locals attempt to find ways to turn hard assets or non-banking services into foreign...
View ArticleWhat really happened in Cyprus: My interview with Athanasios Orphanides,...
Greg Ip, at The Economist, closes with this Q&A: What will the implications be for Europe and the stabilization of the euro zone? This is similar to the blunder in Deauville with PSI that injected...
View ArticleKrugman and I were both wrong about the Fed and interest rates
Tyler Cowen: In 2011 Krugman wrote (and here) Like Bernanke, I don’t believe that the flow of Fed purchases has been an important factor holding bond rates down, and hence don’t believe that they will...
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