Archive for Scott Sumner
Scott Sumner Better Not Play “Go”
…because he apparently can’t look one move ahead. (Folks, cut me some slack. I’ve been out of town for a while and I’m sure Scott misses me.) Here’s Scott talking about Hit– I mean Donald Trump: Trump does not seem to understand how democracy works. The whole point of conventions is to deny the nomination […]
Read moreEfficient Market Bubbles and Why Is Scott Sumner a Libertarian?
I am really swamped with work stuff so I can’t do this justice. But I couldn’t ignore this recent Scott Sumner post at EconLog, in which he asks, “If you believe in bubbles, then why are you a libertarian?” Here’s his argument: I don’t believe in bubbles. In addition, I’m a libertarian. I see those […]
Read moreTreasury Yield Curve Over the Last Year
This might be useful to some of you: It’s obvious in the above that the Fed action has raised very short term rates while bringing down longer rates. (To explain some of the movements earlier, remember that markets thought the Fed was first going to raise the fed funds target in September, and then it […]
Read moreHit and Run on Sumner
We have a super duper awesome conference this weekend here at the Free Market Institute, so I have to be brief. Let me first motivate this post by issuing the following statement, to which I want you to react: *** Ten-year bond yields have plummeted to 1.83%, from about 2.2% when the Fed “raised” interest […]
Read moreContinuing With My Questioning of Sumner
Scott partially answered my question (which I posted here for your viewing convenience), but he didn’t elaborate on why he uses the formula (i-IOR) to get his desired result that IOR is contractionary, even though higher interest rates per se are expansionary. (It should go without saying that I’m just dabbling within Scott’s framework to […]
Read moreSumner Arguing That Low Interest Rates Are Contractionary
Scott has been posting some interesting stuff on this topic (one, two, three). Many of you–and Scott himself, at the tail end of this post–are bracing for me to go nuts, accusing him of all kinds of inconsistency. But nope, I am far more judicious than you realize. However, I do think there is something […]
Read moreContradicting the Ghost of Sumner Past
Poor Scott has been worried that I’m forgetting him with my running series on David Beckworth. But I couldn’t do that to the most prolific Market Monetarist blogger! So two quick observations on his recent posts. (And barring a marathon Euchre tournament, I’ll do Step #3 in my Beckworth series tonight.) ==> In his most […]
Read moreTackling Ted Cruz
In my latest piece at Mises.org I take on the notion that the Fed’s announcement of “tight” money in the summer of 2008 is ultimately to blame for the financial crisis. I am running around with holiday travel but hopefully by the weekend I will return to my earlier post (here on the blog) about […]
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