Federal Reserve

Archive for Federal Reserve

Follow-Up on Krugman and Italy

Not surprisingly, Daniel Kuehn (and others) was not impressed by my highlighting of an apparent Krugman Kontradiction regarding Italy. To refresh your memory, in November 2009 (to take just one example) Krugman was (typically) making fun of people who were warning that the US had better get its deficit under control, lest interest rates quickly […]

Reality Has a Well-Known Market Monetarist Bias

I am of course studying Scott Sumner’s every eye-twitch in this video. Kelly Evans catches him pretty well in the beginning, asking at one point if his policies would have prevented the housing boom. He admits that no, NGDP growth hadn’t been too high, but says that every time there is a crisis like this, […]

Now David Beckworth Should Really Be Jealous

I saw this at Karl Smith’s blog:

The Most Ironic Statement I’ve Heard All Week

“Theoretical macroeconomists love to play with their little toy models, but unfortunately these models don’t actually describe the world we live in.” If you’ve been reading this blog for at least two months, you know who said it.

Watching Freedom

I’ll be on Judge Napolitano’s show today. Set your DVRs to stun.

Don’t You Dare Show Scott Sumner This Rothbard Excerpt

I’m working on tomorrow’s lecture from Chapter 11 of Man, Economy, and State, and came across this passage on page 849: It is thus clear that the exchange-value of money cannot be quantitatively separated from the exchange-value of goods. Since the general exchange-value, or PPM, of money cannot be quantitatively defined and isolated in any […]

Scott Sumner Is Hot, But Breaks His Own Rule

John Carney is starting to appreciate my fascination with the Bard* from Bentley. Carney reproduces the results a poll apparently suggested by Sumner: I thought we weren’t using the i-word anymore? No wonder Scott’s policy won–I bet it would get more votes than limiting the unicorn population to 8% growth, too. * I’m saying Scott […]

If We Give Up Our Cool, Then the Inflationists Will Have Already Won

UPDATE: Sorry, I forgot to include the money (ha ha) quote, to explain the purpose of Scott’s post. Scott Sumner thinks he can play me like a game of classic Donkey Kong: Some days I want to just shoot myself, like when I read the one millionth comment that easy money will hurt consumers by […]