Archive for Inflation
Scott Sumner Proves That the Pen Is Mightier Than the Teaching Post
Seeking to bolster my self-esteem, I re-read my prescient warning back in April that the stock market was overvalued and people should sell. Here’s what I wrote about Scott Sumner (the guy who has made a name for himself by declaring that our problems are due to Bernanke’s tight-money policies): Well Scott Sumner has hung […]
Read morePotpourri
* Aristos sends this video of a policeman telling people he’d pulled over that he should have executed them. It’s true that the offense (threatening to kill them) isn’t as bad as in plenty of other videos we’ve showcased, but this one makes the cut because the people are being fairly cooperative. (I.e. in the […]
Read moreConsumer Prices Up 3.6 Percent Over the Year
Well the CPI came out today. And even playing by the government’s own rules, the headline rate rose a seasonally-adjusted 0.2 percent in May. More important, from May 2010 to May 2011, CPI rose 3.6 percent. And the reason Krugman should be a little concerned, is that “core” CPI–which he says is a better indicator […]
Read moreProducer Price Update
According to today’s release, the seasonally-adjusted increase in finished goods for May was 0.2 percent. Nothing to get excited over. Even so, just for the record, the year-over-year change (i.e. May 2010 to May 2011) for the three categories is as follows: Finished goods: +7.3% Intermediate goods: +10.3% Crude goods: +22.8% The BLS report on […]
Read moreNick Rowe on Forecasting Price Inflation
[2nd UPDATE in text.] [UPDATE below.] Nick Rowe has an intriguing post that pushed me over the edge to mention something that’s been bothering me for a few weeks now. (No, I’m not talking about the rash.) Here’s Rowe: You can’t test whether core inflation is a useful indicator for a central bank to look […]
Read moreO’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).
Read moreMore Mises Mastery
On Sundays I quote Holy Scripture, on Mondays I quote from The Theory of Money and Credit: The national capital is composed of the capital of the individual members of the State, and when the latter is consumed nothing remains of the former either. The individual who takes steps to invest his property in such […]
Read moreMises >> Scott Sumner + Warren Mosler
“[I]nflation becomes the most important psychological resource of any economic policy whose consequences have to be concealed; and so in this sense it can be called an instrument of unpopular, i.e. of anti-democratic, policy, since by misleading public opinion it makes possible the continued existence of a system of government that would have no hope […]
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