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Another I Told You So Re: Greenspan the Traitor

Robert Wenzel tipped me off to another cartoon taking advantage of Greenspan’s idiotic “confession”: In case you’re wondering, this isn’t turning into a kid’s book about economics site. It just so happens that a lot of artwork is relevant, lately. Plus it helps to break up the monotony of my long-winded treatises.

Feds May "Invest" $600 Billion in Home Mortgages

All I can say is, if you are predicting price deflation over the next five years, then I think you are nuts. The federal government is now considering backing up to $600 billion in home mortgages. Now I’m sure a lot of proponents will rush to explain that not all of that will go down […]

The Fed Really Wants to Test Whether Low Interest Rates Mess Up the Economy

Ironically, just after I posted (below) that Brad DeLong has finally come around to questioning whether Greenspan made the right move in cutting interest rates so much, I see the headlines that the Fed has once again lowered rates down to 1%. Let me say it once again, for the record: Suppose that Ludwig von […]

Two Interesting Posts from Arnold Kling

In this one, he quotes his former classmate, Bob McDonald, who says in an Oct. 9 post: [Bob McDonald:] At this time, the government is the only agent in a position to intervene, but the government is also part of the problem. No private solution will emerge with the government hovering in the background, making […]

More Confusion on That #$# Bond Chart

OK here it is once again folks: Let me review the standard interpretation, and then repeat my criticism of that standard view. But then I will bring up Matt Machaj’s devastating critique of my explanation. (Yes, that’s right–by the end of this post, you will see that I have no clue what is going on. […]

It’s a Good Thing I Don’t Believe in "Intellectual Property"

What do you think, kids? At MR on October 27, Tyler pointed to the higher TIPS yield than nominal, as evidence that the market was predicting deflation. In the comments (time-stamped at 1:23 PM), I referred to a FRED graph that showed the history of the two series, in order to argue that Tyler’s explanation […]