Monthly Archives: March 2016
Deficit Spending is Not the Answer
Central bankers and monetary adherents the world over are united in the common grouse that fiscal policy is lacking. Grander programs of direct stimulation are needed, they grumble. Monetary policy alone won’t cut the mustard, they gripe. Hardly a week … Continue reading
Why Janet Yellen is Toast
“The Phillips Curve is alive,” said Fed Chair Janet Yellen at Wednesday’s post FOMC meeting press conference. We’ll offer some remarks on this in just a moment, including why Yellen is toast. But first we must put her utterances into … Continue reading
No Free Lunches Be Damned
“There ain’t no such thing as a free lunch,” is one of the essential axioms of economics. No doubt about it, there’s no getting around this simple truth. Everything has a price. For example, even if someone buys you lunch … Continue reading
Alan Greenspan’s Pickled Economy
Former Federal Reserve Chairman Alan Greenspan resurfaced this week. We couldn’t recall the last time we’d heard from him. But, alas, the old fellow’s in desolate despair. On Tuesday, for instance, he told Bloomberg he hasn’t been optimistic for “quite … Continue reading
