Taxes: 1970’s Redux?

by on November 14, 2017

Taxes. What a problem.

I was going to start by saying something about our current national debate about taxes, but that would have been an [more…]

Interest Rates, Faith, and Democracy

by on December 15, 2015

What a pickle!

The Federal Reserve Board's meetings have become a media event. The last few days - weeks if you want to be more [more…]

Interest Rate Mania

by on October 29, 2015

People keep asking me about interest rates. I wish they would stop. The question always make me feel like mimicking Eugene Fama: rates are rates. [more…]

Automation and History

by on September 29, 2015

History always has something doesn't it?

Here is John Aziz writing at Pieria:
"So what does that mean today, as we get caught up in [more…]

Beating Dead Horse?

by on September 22, 2015

I am not sure I understand the point of Alexander Kaufman's column in the Huffington Post. In it he takes Paul Krugman to task for [more…]

After Bernanke

by on July 19, 2013

It is fairly well accepted now that Ben Bernanke will decide not to stay at the Fed next year when his current term is up. [more…]


by on April 22, 2013

Lost in all the hyperventilation last week was news of our rate of inflation

There isn't any. Or, rather, what inflation we have is small [more…]

Economic Update

by on December 14, 2012

We ought, briefly, to catch up on the latest news, most of which points to the ongoing sideways movement of the economy.

Yesterday's numbers on [more…]

Explicit Fed

by on December 12, 2012

The Fed has shocked some people today. I don't think it shocking at all. I see today's announcements as the continuance of a trend, so [more…]

Consumer Spending Ticks Up

by on October 29, 2012

While we hunker down waiting for hurricane Sandy to churn its way inland we can ponder today's consumer spending report and its attached reading on [more…]