Inflation

Archive for Inflation

Bank of England & Carney: This Doesn’t Sound Good

Scott Sumner links to this article from the Financial Times. I’m feel queasy. Take a look: The [UK] Treasury opened the door to a more aggressive monetary policy on Wednesday, as aides to the chancellor welcomed the next Bank of England governor’s radical views on stimulus measure for flagging economies. In a speech on Monday, […]

Sumner Believes in Government-Created Bubbles and Ticking Time Bombs

This is kind of an inside baseball post, so if you don’t “get it,” just move on with your life. Anyway, those who read Scott Sumner closely, especially his incredulous responses to Austrian critics of the Fed, should be puzzled by his latest post in which Scott writes: Back in the early 1990s lots of […]

So Simple! We Just Need to Create Two Platinum Coins Worth $1 Trillion Each

This is a real news article: If President Obama wants to avoid an economic calamity next year, he could always show up at a news conference bearing two shiny platinum coins, each worth … $1 trillion. That sounds wacky, but some economists and legal scholars have suggested that the “platinum coin option” is one way […]

One More on Cantillon for 2012

[UPDATE below.] Last post this year from me on Cantillon, with the usual disclaimer that if Paul Krugman jumps in, all options are back on the table… In another comment Bill Woolsey says: In my view, Richmond’s short quotation and your short quotation about Wall Street restaurants were very much wrong and focus on from […]

Bill Woolsey Replies on Cantillon Effects

Bill Woolsey opened a long comment in my last post by writing, “Suppose the government decides to increase tank production. It might fund this by printing currency, by borrowing money, or by raising taxes. The tank manufacturers benefit the same amount regarless of this choice.” Hang on a second, fellas. You are changing the question. […]

I Have a Deal for JP Koning, Scott Sumner, and Nick Rowe

JP Koning jumps into the fray on the Cantillon Effects debate. It occurred to Koning that if we’re going to argue over the issue, maybe we should actually see what Cantillon wrote? Very nice, JP. Let me focus on this aspect of Koning’s attempt to reach a peace treaty: While we don’t have to agree […]

Potpourri

==> Tyler Cowen jumps in on the side (?) of Sumner and Rowe (HT2 Max R.), regarding Cantillon effects. (Here Sumner is much clearer–to Austrian readers–about what his position has been all along.) Gene Callahan makes what seems to be a modest point, but it actually is the equivalent of Luke Skywalker’s shot into the […]

You Might Be Talkin to a Market Monetarist If…

…you ask this clarifying question on his blog and you genuinely don’t know what answer to expect: Thanks Nick. One more from me please. (And I’m not asking these to trap you, I’m asking so I fairly recapitulate what your position is.) If the Fed were to suddenly dump its mortgage-backed securities and replace them […]