Archive for October, 2011
Should Central Banks Worry About Asset Bubbles?
A long long time ago, from an ISP far far away, the indefatigable von Pepe was beating me over the head about my reckless CPI “calls,” telling me that loose monetary policy would show up all over the place. He sent me all kinds of academic papers. Well I finally took the time to write […]
Read morePeople Draw Different Lessons From History
Paul Krugman talking about the Europeans’ amazing reluctance to print as much money as he thinks they should: The point here is that we have a couple of centuries’ experience with central banking, and that experience clearly shows that the lender of last resort function is crucial. The Federal Reserve basically was created after America […]
Read moreWhen the Facts Change, I Silently Curse–What Do You Do, Sir?
Dangit, I realized there is yet another complication to the income vs. consumption tax saga. I don’t know about you guys, but this debate is like the first season of 24. In the beginning I thought it was incredibly interesting, I was hooked, I couldn’t get enough. But after 20 hours of it, there were […]
Read moreYet More Clarity (Confusion?) on Mainstream Tax Analysis
OK this is almost out of my system, but people keep asking good questions in the comments. “May I have another, sir?” Chris asked: Bob, Doesn’t a consumption tax also hit you when you earn interest, dividends, and capital gains? After all one doesn’t earn interest to roll it over for perpetuity — it’s eventually […]
Read moreYet Another Quick Note on Tax Theory
OK in the comments on previous posts it is clear that a lot of readers didn’t get the point I was making originally, that there is a legitimate sense in which an income tax hurts individuals more than a comparable consumption tax. So let me take another stab at it. (It should go without saying […]
Read moreFollow-Up on Rothbard and Consumption Taxes
Incidentally, Bob Wenzel and I have been exchanging emails that are as chummy as the bounds of heterosexuality permit. I think we are in 99% agreement on Rothbard’s views towards a consumption tax. So this isn’t me “attacking” anybody, just making sure people don’t draw erroneous inferences from some of Rothbard’s arguments. In this piece […]
Read moreGDP Forecast Bask
I am working on a research paper for investors (I have to pay the mortgage somehow) and I need to go back in time to see what the “consensus” forecast for (say) 4th quarter 2004 GDP was, as of 1st quarter 2004. Obviously I can use FRED to see what the actual GDP figures were, […]
Read moreRobert Wenzel Takes the Fight to Radio
Having conquered the world of online Austro-libertarian financial commentary, Robert Wenzel is eyeing new territory: I am happy to announce the launch of the “Robert Wenzel Show”. I will be recording the shows on Saturday and they will be up on EPJ on Sunday at 7:00 AM EST. I hope to expand the show down […]
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