Financial Economics

Archive for Financial Economics

Murphy on FreedomWatch

I toyed with the idea of telling the Judge that actually, they jacked up income tax rates to ridiculous levels pretty soon after they were implemented–the top rate was 77% in 1918–but I wasn’t sure how to get the proper tone across so I played it safe. Watch the latest video at video.foxbusiness.com

Pessimism

I think it’s safe to say that if the stock market crashes within the next 2 years or so, that both Austrians and Keynesians (as well as MMTers) are going to say, “We told you so.” Now I know very well the reasons I think that may happen. Look at the chart of the S&P […]

Mosler in the House

BTW I realize I may have an advantage in monitoring incoming comments, so I point interested parties back to the MMT post, because Warren Mosler showed up and defended his honor against some of us in the comments.

O’Driscoll on Cheap-Money Policies

I spend so much time reading Krugman et al., that occasionally I need to come back up for air and breathe the sweet oxygen of Gerry O’Driscoll (HT2 von Pepe).

I Agree With Krugman and DeLong

Well it was bound to happen sooner or later. To set the context, Krugman recently wrote that if the dollar is ousted as the global reserve currency, it won’t be a big deal. (I think it would be, and I support such a shift, incidentally, since I think it would limit the American empire.) So […]

Subcommittee Hearing on the Fed and Oil Prices

Ah, Desolation Jones posts the video faster than the Congressional staffers get it to me. Yet another example of the private sector’s efficiency… If any of you are going to pop a bag of corn and watch this whole thing, can you pleeeease do a Murphy compilation? I am assuming it’s not that much of […]

Can Government Finances Be Compared to a Household’s?

I think so, in some respects: Politicians often try to empathize with struggling Americans by promising to cut government spending, “just like regular households in tough times.” This simile evokes different reactions depending on one’s economic views. Keynesians think it’s reckless, proponents of Modern Monetary Theory (MMT) think it’s absurd, and Rothbardians think it’s correct […]

Mr. Murphy Goes to Washington

On Wednesday, May 25th, I’ll be testifying at the Oversight and Government Reform Committee (chaired by Darrell Issa) at 1:30. The topic will be the connection between Fed policy and high oil prices. The people I’m talking to don’t know right now if it will be televised. Right now Intrade gives me a 34% shot […]