Tag Archives: larry summers

Meet Your New Stimulus Allocation Czar

The march towards midnight is both stirring and foreboding.  Like a death row inmate sitting down to savor his last meal, a grim excitement greets the reality of impending doom.  Thoughts of imminent mortality haunt each bite. As far as … Continue reading

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Larry Summers Wants to Give You a Free Lunch

The existing capital stock continues to be frittered away at the expense of savers and retirees.  Nonetheless, central bankers don’t give a doggone about it.  This, after all, is one consequence of roughly eight years of near zero interest rate … Continue reading

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Welcome to the New Dark Ages

The popular notion that the economy’s doing just fine is losing acceptance with each passing week.  Politicians, central bankers, brokers, and even the nightly news broadcasters can no longer pretend everything’s going according to script.  All at once, no one … Continue reading

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Lost in Extrapolation

In the late 1970s the impossible happened.  Inflation and unemployment simultaneously went vertical.  The leading economists of the day were flummoxed. The Phillips curve said there’s an inverse relationship between inflation and unemployment.  When unemployment goes down, inflation goes up.  … Continue reading

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