Blog Profile / EconoSpeak

Filed Under:Business & Finance
Posts on Regator:2254
Posts / Week:6.2
Archived Since:February 18, 2011

Blog Post Archive

A Kennedy-Reagan-Trump Fiscal Policy?

Heather Long reports that the White House economists have no clue about the history of U.S. fiscal policy: President Trump’s policies are driving an economic turnaround that puts him in the company of transformative presidents such as John F. Show More Summary

Divide and Rule

There was a time, one I can remember from when I was growing up (the 1950s and 60s), when being a liberal meant you wanted certain rights and benefits for everyone, at least ostensibly. We had Social Security because everyone should have a basic pension when they retire, and all disabled people need to be cared for. Show More Summary

Paying for Health Care Over Time

Simon Wren Lewis illustrates the long-run government budget constraint with this tale: There are many reasons why, outside of a recession, deficits that, if sustained, would steadily increase the debt to GDP ratio may be bad for the economy, but let me give the most obvious here. Show More Summary

Shorting China

I just saw “The China Hustle” as part of the Portland International Film Festival. It’s a very (very) slick documentary about the listing of fraudulent Chinese companies on US exchanges during the post-financial crisis era. The companies...Show More Summary

A Critical Review of Jeffrey Miron’s Call to Slash Entitlements

I accused John Cochrane of incoherent babbling on the Federal deficit issue noting his update where he flip flopped: He went from fiscal policy being sober to we are in dire straights just like that! Oh my the sky is falling. We have to take away those Social Security benefits that my generation have been paying into for 35 years. Show More Summary

Fiscal Stability or Dire Straights: John Cochrane’s Latest Rant

At times John Cochrane babbles on incoherently on what should be a straight forward issue. This post is one example: Once you net out interest costs, it is interesting how sober US fiscal policy actually has been over the years. In economic good times, we run primary surpluses. Show More Summary

All Economists Are Bastards -- Except Us

Peter Frase has a very interesting post up about the role of popular culture in legitimizing the police. Frase recounted a forum he attended with Alex Vitale talking about his book, The End of Policing. In response to a question about...Show More Summary

Rumble on Wall St. -- No Other Way of Keeping Profits Up!

At Jacobin, Seth Ackerman did an interview with J.W. Mason about The Class Struggle on Wall Street that considers the trade-off between relative profit and wage shares of income. Whether you agree with his analysis or not, Josh teases...Show More Summary

Baumol Cost Disease and Relative Prices – Part 2

Many thanks to the Angrybear for reposting this as well as some excellent comments (save that absurd contention I’m a Luddite). If you check the comments over at Mark Perry’s place you will see that Paul Wynn made the same point I made...Show More Summary

No Other Way of Keeping Profits Up

"There is no other way of keeping profits up, but by keeping wages down." -- David Ricardo

Drastically Changint the Rules On Infrstructure Spending

Most observers have figured out that the Trump infrastructure spending plan seems to be weirdly lopsided in an unrealistic way, with $200 billion in federal spending somehow supposed to inspire a total of $1.5 trillion in spending by state and local sources along with private ones. Show More Summary

Mark Perry Has Never Heard of William Baumol

Otherwise why would he write this nonsense: The chart above (thanks to Olivier Ballou) is an update of a chart we produced last year about this time, and shows the percent changes since January 1997 in the prices of selected consumer...Show More Summary

The WaPo Gang Going After The Usual Suspects On the Budget Falls On Its Face Factually

All right, all right, that is not completely fair. Yes, they dump all over Trump and the GOP-run Congress for their massive tax cut directed at the rich, as well as the hypocrisy of the Republicans in so smoothly switching from denouncing...Show More Summary

Why Tax Cuts for Rich Dude Will Lead to Little Stimulus

Over at Brad DeLong’s blog jonny bakho adds an interesting comment: How much stimulus did the GWBush tax cuts provide? They came during a recession followed by "jobless recovery" made somewhat better by the housing bubble, then burst big time in 2008. Show More Summary

End Of The Obama-Yellen Economy

For the past year the US has been essentially operating on an Obama-Yellen economy, at least as far as the big macroeconomic policies have been concerned in terms of fiscal and monetary policies. We saw basically a continuation of what had been seeing in previous years, steady growth with inflation under control. Show More Summary

Distractions, Distractions

Wow! We have a great controversy! A squib of a memo by the House Intel Comm has completely devoured the media. A constitutional crisis! Egad! In two weeks, or maybe two months, it will be nothing. But for now, well, very very very serious. Show More Summary

Econospeak Again A Top 101 Economics-Finance Blog

According to Focus (last year it was top 100). For full details see Focus-Economics-Finance-Blogs. This is non-trivial in that 17 blogs that were on last year are off. There are 18 new ones, and the total number rose from 100 to 101....Show More Summary

Lawrence Summers on Those Employee Bonuses – a Redux of the 1990’s?

Lawrence Summers made an interesting comments during a CNBC interview: Former Treasury Secretary and Obama administration economic advisor Larry Summers said Friday that recent employee bonuses are stunts and not reflective of long-term hopes for prosperity that tax cuts are supposed to bring. Show More Summary

Is Treasury Secretary Mnuchin Right About The Impact Of The Dollar On US Trade?

Maybe yes.In Davos some days ago Treasury Secretary Mnuchin declared that a lower valued dollar would lead to a lower US trade deficit. The dollar promptly fell several percents and various persons and many observers reacted in horror, most prominently former TreasSec Larry Summers. Show More Summary

The Subtle Art of Recognizing a Scam

The following was sent out to the all-faculty-and-staff email list at Evergreen State College today by the chief of campus police. Some background: The Evergreen State College is abbreviated as TESC and is situated in Thurston County.A faculty member reported that a person phoned her campus phone impersonating a Thurston County Sheriff. Show More Summary

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