As we approach 5 November, the date that Treasury Secretary Lew has said the U.S. will run out of money, there are more articles coming out on the possibility of the U.S. defaulting. Implicit in almost all the reporting is the false assumption that if partisan politics prevents an extension of the debt, the U.S. […]
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What is that one good thing (among others)? It is that his exit is potentially a blow to the US Chamber of Commerce, that supposedly “conservative” group of business leaders who are really not conservative except in a very limited sense. Here is what is going on. The Chamber has decided it will spend over […]
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The Millennial Problem
14 Aug 2015
I know some college students read this blog, so I will begin by citing a pretty good article in the August 6 edition of Reason.com (a libertarian periodical) entitled “How the Federal Government Betrayed the Millennials,” by Veronique de Rugy. Perhaps you don’t think the Feds did betray millennials (you know who you are). After […]
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Some Questions to Ponder: Just Asking
15 Jul 2015
I have a few questions for thought today. I am not answering them, though the reader may well have some idea where I am on them. So just read and ponder. Please feel free to comment too. I have not read the Iran nuclear deal yet, but I understand it will aid Iran in developing […]
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They Are Singing the Blues, Maybe
09 Jul 2015
Here is a summary of a study by the Mercatus Center of George Mason University on the fiscal situation of liberal states. It looks like liberal states are predominantly profligate. And how well are their citizens faring? Take a look—and read the entire study. Maybe these states might want to consult Greece (?). This summary […]
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Financial markets are on edge with Greece this a.m., as Greece banks are closed and there will be a referendum to get public permission from Mr. Tsipras to break his electoral promise and impose austerity conditions to get more aid from the Europeans. As a Euro skeptic from the beginning, I wonder when the charade […]
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The Greek drama may finally be ending as soon as Monday, as end it must at some point. Greece will exit the Euro, and the question is what will happen? I don’t claim any special insight into what that will be, but there are a few points about this we should consider. First, Greece’s problem […]
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One of the joys of teaching economics is pointing out the foolishness of poor economic choices. It is precisely by showing the linkage between cause and effect and demonstrating unintended consequences that helps students understand “the economic way of thinking.” As a monetary economist, there is perhaps no better visual aid than passing around an […]
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We often lament the ever burgeoning national debt ($18T+), and especially so when we consider the unfunded liabilities (some estimates well north of $100T). Yet while the national debt captures the public’s attention periodically, the disastrous condition of state finances is seldom discussed. There are few good states, albeit red states are typically much better […]
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Economics Everywhere! Keynesian failure in Japan, ECB money printing and Walmart wage hikes!
21 Feb 2015
First up is the ongoing failure of Keynesian economics with its calls for government stimulus to save the day. Japan is the case study for looking at what government policy makers have done. Ever since their stock bubble burst (enabled by easy money policy) in the late 80s, the Japanese economy has went from one period […]
Bert Wheeler
Jeff Haymond
Marc Clauson
Mark Caleb Smith
Tom Mach