This isn’t a post. It’s an open question. Why are bond yields in a 30 year bear market? The forces propelling bond yields lower over 30 years must be extremely powerful.
Paul Krugman has a post up about interest rates which I think requires a bit of elaboration. He says: “Low interest rates on the bonds of just about every country that still has its own currency have created a small industry of would-be explainers. It’s a bubble; no, it’s the global shortage of safe assets; no, it’s “disaster economics“.Read More
Scott Sumner responded to my first post about NGDP futures. He seems to think I pulled the $500bn number out of thin air. He is wrong. Before I get started, I’d once again like to express my support for NGDP level targets. NGDP level targets are superior to our current dual mandate. Also, I’d alsoRead More
I broke this down over at Pragcap over the last week and wanted to post each piece here. I know some people learn more easily by reading in small chunks. Also, a huge thanks to JKH, Brett Fiebiger, PhD, Mike Sankowski and Carlos Mucha for piecing this all together. MR has become much biggerRead More
I see Romney is still floundering on questions on when he left Bain Capital (that is, when he went from active manager to passive owner). Whether it was 1999 or 2002 doesn’t really matter except that in 2000 and 2001 Bain invested in companies that outsourced jobs to China and Mexico. Romney’s campaign is completelyRead More