Bob Murphy

Author Archive

Banks’ Excess Reserves (Almost) Literally Off the Charts

EPJ tipped me off to the fact that the excess reserves have (had?) surpassed the $1 trillion mark. In this Fed graph, it looks literally off the charts, but when you click to see the data [.txt], it lists the last data point as a measly $994.7 billion. Chump change. For those who like statistics, […]

Fort Hood Aftermath

At first I thought they were overreacting (as is their wont), but I “get” why the AM right-wingers are going nuts over the media coverage. There was a long story on NPR this morning interviewing Muslims in the military and how they’re dealing with the stereotypes etc. Note that I am all for that, but […]

Democracy Is More Important Than Avoiding Paradox

I can’t stop reading Tyler! He knows so much, and his views are so similar to mine, and so when we disagree… Aaaaaaaa! I can’t stand it!! While discussing a voting procedure that one of his readers had asked about, Tyler said: The main question to get out of your head is whether or not […]

Environmental Activists Label Waxman-Markey a "Huge Mistake"

This is actually a very nice video. (HT2 Rob Bradley) Obviously I disagree with their advocacy of a carbon tax & rebate scheme, but what they are saying makes a lot of sense if you were really worried about climate change and thought that governments sometimes did the right thing. In contrast, I don’t see […]

Bond Buccaneer Bleg: Murphy vs. Sumner

Do any of the esteemed Free Advice readers have experience with the bond market? I don’t mean, “Did you know that price and yield move in opposite directions?” I mean, do you really understand bond math etc.? I ask because Scott Sumner and I are launching volleys at each other (he from his ivory tower, […]

China May Let Yuan Appreciate Against USD: "It’s Started!"

Man what good is YouTube? I had the perfect link for this story–when the French authorities release the elevator in the Eiffel Tower (with Lois underneath it) accidentally activating the countdown on the nuclear bomb inside. I can’t believe all the irrelevant garbage that was coming up on my searches instead of that gem from […]

Who’s Afraid of Deficits?

Paul Krugman, Aug. 27, 2009: So new budget projections show a cumulative deficit of $9 trillion over the next decade. According to many commentators, that’s a terrifying number, requiring drastic action — in particular, of course, canceling efforts to boost the economy and calling off health care reform. The truth is more complicated and less […]

Another Equation of "Religion" With "Falsity"

Folks, don’t flip out, I totally get why Tom Palmer and now Joe Romm are writing in this fashion. But strictly speaking, to call something “a religion” doesn’t mean it’s thereby false. Even in a secular context, all it means is that the people who believe in the claims aren’t being objective and rational about […]