Understanding The Modern Monetary System...
Joe Weisenthal posted an incredible interview with Jan Hatzius yesterday. Hatzius is known for schooling fools on the economy, but he’s better known as Goldman’s economist. And Joe is…always working 10x as fast (and better) than everyone else in the world. Also today, David Weigel wrote about the 20 years of failures of the Peterson Institute. [...]
“No one doubts Congress’s power to create a vast and varied federal bureaucracy. But where, in all this, is the role for oversight by an elected President? The Constitution requires that a President chosen by the entire Nation oversee the execution of the laws.” Free Enterprise Fund v. Public Co. Accounting Oversight Bd., 130 S.Ct. [...]
I found this comment from Karl Smith at Modeled Behavior pretty interesting: “This is very out of the box, but imagine a standing Civilian Corp that works like this. At any time anyone can sign up for 6 months of work at the Civilian Corp. You will be paid 70% of your previous average salary [...]
Steve Waldman knocks it out of the park again with his new piece called “Depression is a Choice“. He’s like Babe Ruth without the strikeouts. Here is something from my never finished piece on the Natural Rate of Interest, which directly relates to choosing depression. I think the Natural Rate of Interest is flawed for [...]
Romney’s Lead Economist Urges Policies that will Cause the Next Financial Crisis | The Big Picture Good article from Bill Black. When I read Mankiw, it seems I end up less informed. Same with Cowen. Regulators to Ease a Rule on Derivatives Dealers – NYTimes.com 5 Countries That Do It Better: How Sexual Prudery Makes [...]
Argentina Seizes Oil Producer YPF, as Repsol Gets Ousted – Bloomberg Hmmm. My guess is it won’t be all that bad for Argentina. Brazil’s Unpredictable Central Banker Tombini Confounds Critics – Bloomberg Huh – turns out this guy was lowering rates during a period of inflation, and inflation is moderating. I wonder why that happens. [...]
Dirk Bezemer, Associate Professor, University of Groningen spoke at the recent INET conference and covered a broad array of topics from the origins of money to the importance of the credit system to how we can create a more socially useful financial system. He touches on one really important topic in this discussion that is [...]
In his post about aggregate demand, David Beckworth posts an updated chart of unemployment vs. business demand concerns. It’s a remarkable match – you could almost substitute one line for the other. The R2 of this regression is a remarkable 76.93%. I can’t tell, but it sure looks like this would be significant to the [...]
In his latest piece David Beckworth highlights his long-held belief that there’s an aggregate demand problem. Now, to anyone who runs a business or understands that sales drive business expansion, this almost seems like an obvious point. But not everyone views the world through this prism. David highlights the latest NFIB data which essentially [...]
The US government has no spending constraint. There is no such thing as the USA not being able to make a debt payment. But for some reason we have enacted a silly law that binds Congress by the “debt ceiling”. The debt ceiling is a misguided law for several reasons: The debt ceiling is only [...]
Recent Comments