All Posts

Archive for All Posts

Slope of Yield Curve at Record High

The econogeek blogosphere is abuzz because the slope of the yield curve is at a record high. Here’s the chart from Calculated Risk (HT2 Greg Mankiw): Whenever I see a chart of a spread, especially when it’s over a long time frame, I like to see its constituents: The yield curve holds a revered place […]

Krugman Contradicts Krugman on California

Earlier this week Paul Krugman’s NYT column discussed the sorry state of California finances. According to Krugman, the reason the Golden State is in such a hole these last few years, is because of a tax revolt in 1978: The seeds of California’s current crisis were planted more than 30 years ago, when voters overwhelmingly […]

Cost/Benefit of Waxman-Markey: It’s Not Pretty

I actually spent a good portion of my holiday weekend researching for / writing this MasterResource post on Waxman-Markey. A juicy part: Now we see the weakness in [relying on the “social cost of carbon”], when trying to assess the net benefits of unilateral climate policy. Once we take leakage into account, we see that […]

Samwick’s Juvenile Argument Against the Tea Parties

Editor’s Note: In a recent post I summoned the Thundercats and they responded as usual. This post relies on their sleuthing. I’d also like to thank YouTube.–RPM Andrew Samwick (HT2 Brad DeLong) couldn’t take it anymore when the Cato Institute’s David Boaz referred to this year’s “Tea Parties” as the “revival of a freedom movement.” […]

Oil Prices Are Rigged? It Just Ain’t So!

I explain in the latest Freeman. Excerpt: Even though oil prices have fallen and quieted the price-conspiracy mongers, you can bet that when prices go up again, they will be back in force. It happened last time. For example, in an article for Time last August, Ari Officer and Garrett Hayes ask, “Are Oil Prices […]

Does Krugman Know How to Balance a Checkbook?

For a while now, it has been clear that Krugman becomes the anti-economist during a liquidity trap. In this strange alternative universe, government projects coming in under budget are bad, protectionism can be good, imposing costly new mandates on business can jumpstart the economy, and a sudden decision by China to invest in euros instead […]

Pushing the Analysis Deeper on Social Security

I have been feeling quite smug the last few years, since I knew that the projections of the date at which Social Security “runs out of money” were wildly optimistic. The latest projection is 2036, but that relies on the mythical “trust fund.” The true crisis point occurs much earlier, when payroll taxes put in […]

Awkward Thoughts on Memorial Day

Yesterday in church I was very uncomfortable. Because it was Memorial Day weekend, and because I am in a pretty conservative area (replete with McCain-Palin and “Nobama” bumper stickers), it was not surprising when the pastor took several minutes to talk about military veterans. I am truly not trying to rile up those who think […]