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Fiscal stimulus is costly
For years I’ve been warning that reckless fiscal policy (under Trump and Biden) would lead to future tax increases. And for years I’ve been attacked as an old fogey who doesn’t understand that we are...
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Do the ducks ever shoot back?
Recall the metaphor “shooting ducks in a barrel”? It’s the phrase I think of when I see thoughtful progressives criticize the excesses of wokism. Their critiques are so obviously correct it’s hard to...
View ArticleWake me when the tight money starts
Bloomberg: The US labor market burned red-hot in January as hiring unexpectedly surged and unemployment fell to a 53-year low, defying recession forecasts and adding pressure on the Federal Reserve to...
View ArticleThe difference between men and boys . . .
. . . is the price of their toys.America and China should stop spying on each other because it’s a waste of money.If one side refuses to stop, the other side should unilaterally cease spying.Grow up....
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Where is the money going?
This David Beckworth tweet asks an interesting question: If inflation had stayed stable at 2%, this question would have a simple answer. In that case, changes in the money supply growth rate would...
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Earthsea (in Patagonia)
I recently flew down to Punta Arenas, Chile. A few comments about latitude (and these are guesstimates on my part; correct me if I’m wrong.)People talk about a North/South split in development, but...
View ArticleKuroda’s replacement
Haruhiko Kuroda will go down in history as one of Japan’s greatest central bankers. His policies were not perfect, but given the political constraints he operated under he achieved a great deal. He...
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