An Increasingly Divergent US Economy

An Increasingly Divergent US Economy Lots of people have been huffing and puffing about whether or not the US economy will go into a recession in the near future, with Menzie Chinn and Jim Hamilton at Econbrowser saying it is now about 50-50 whether or not the US economy will go … [Read More...]

The Repo Ruckus

The Repo Ruckus This is now about three weeks old news, but it is increasingly clear that it is not clear why it happened or if it will happen again.  There was an outbreak of completely unexpected volatility in the repo market, where in the past the Fed had carried … [Read More...]

Degeneration of Bipartisan Blog Sites: Econbrowser

Degeneration of Bipartisan Blog Sites: Econbrowser This is probably just a whiny complaint of well-known and long running issues.  Indeed for a long time most blog sites (not to mention most twitterspheres and Instogram Idiotspheres) have been mono-partisan in those who participate in their discussions/debates. This has … [Read More...]

A Half Century Since Apollo 11 Launched To The Moon

A Half Century Since Apollo 11 Launched To The Moon On July 16, 1969, a half century ago today, a Saturn 5 rocket launched from Cape Kennedy on its way to the moon, where Neil Armstrong and Buzz Aldrin would land on the moon on July 20 before returning successfully to earth.  Recent books have … [Read More...]

Iran Nuclear Deal: Better Late Than Never?

Iran Nuclear Deal: Better Late Than Never? Monday has seen a curious coincidence that I have seen nobody else comment on regarding the  status of the JCPOA Iran nuclear deal.  On the one hand Iran has apparently now officially violated the agreement in terms of the amount of low level … [Read More...]

Alan Krueger And Happiness

Alan Krueger And Happiness It took awhile for me to remember after his apparent suicide that the late Alan Krueger was the coauthor of what I consider to be the best paper published on happiness economics, “Develpments in the Measurement of Subjective Well-Being,” Journal of Economic Perspectives, 2006, 20… [Read More...]

The End Of The End Of The Cold War

The End Of The End Of The Cold War It is a sign of how wacko things hve gotten that the truly most important event of the past week has simply beeen buried in the news by all the juffing and puffing over Trump’s shutdown ending and these reveleations … [Read More...]

I Support Virginia Governor, Ralph Northam

I Support Virginia Governor, Ralph Northam Current media is denouncing VA Gov Ralph Northam with many demanding he resign now over an unfortunate incident in his youth. I note that that the final crucial person who gave us Obamacare was the late Robert C. Byrd of West Virginia. He was … [Read More...]

Robert H. Nelson Dies: Religion And Economics

Robert H. Nelson Dies: Religion And Economics Robert H. Nelson of the University of Maryland Public Policy Department died at age 74 on Dec. 15 while attending a conference in Helsinki, Finland.  He was the leading economist writing about the relationship between religion and economics, notably in three books: Reaching for Heaven … [Read More...]

Whatever Happened To Iran?

Whatever Happened To Iran? Who? What? Where? Long a headliner in the news, Iran has disappeared from the headlines, and even the inside pages. It has largely disappeared from the news, after being the big headline for a long time. This is probably good for Iran, despite its many problems. … [Read More...]

On Some Predictions

On Some Predictions I am not somebody who makes endo/beginning of year predictions, and I am not about to stsrt now.  But I have just read a guest post by Jeffrey Frankel on Econbrowser where he brags about making six accurate predictions for 2018 while not reporting on some others … [Read More...]

Shiller Hystericizes The US Housing Market

Shiller Hystericizes The US Housing Market I have the deepest respect for Robert Shiller, who has been one of the most serious students of the dynamics of speculative bubbles there is, winning a well-deserved Nobel Prize for his work on this important topic.  One of the more significant parts … [Read More...]

Mainstream Media Says Trump Triumphs Over Iran!

Mainstream Media Says Trump Triumphs Over Iran! That would be several stories in both the New York Times and the Washington Post over the last two days: Trump’s policy against Iran is a great success and it  is completely reasonable and justified. This reporting and columnizing has followed three … [Read More...]

The Minsky Moment Ten Years After

The Minsky Moment Ten Years After These days are the tenth anniversary of the biggest Minsky Moment since the Great Depression.  While when it happened most commentators mentioned Minsky and many even called it a “Minsky Moment,” most of the commentary now does not use that term and … [Read More...]

China Starts Yuan/RMB Futures Market

China Starts Yuan/RMB Futures Market Juan Cole reports that Reuters reports that China is establishing a commodities futures market in Shanghai that will operate in yuan/rmb.  According to the report the commodity that is most expected to be traded is crude petroleum.  This will put this exchange in … [Read More...]

Real Wages Decline

Real Wages Decline Trump and his allies have been loudly bragging about the second quarterly GDP growth rate of 4.1%.  It is quite possible that a growth rate of this sort may be maintained for another quarter or so, given the large fiscal stimulus put in place at the beginning … [Read More...]

The Most Important Issue At Helsinki

The Most Important Issue At Helsinki No, folks, it was not the much ballyhooed issue of Russian election interference in 2016, which got so much attention because of Trump’s bungled and false statements at the press conference. Oh yes, for those of us who are convinced he is a bought … [Read More...]