Paolo Gentiloni

Foreign minister Paolo Gentiloni has been asked to attempt to form a government. He is a rather bland establishment figure who has two interesting histories. First, back in the day, Italy (then a monarchy) didn’t get along with the pope (they fought a war with a famous battle at … [Read More...]

Trump Nomination Approval Hearings

It seems we have a cabinet nomination. Word is the Jefferson Beuregard Sessions will be nominated Attorney General. Sen Sessions is an extreme reactionary. He is also, pretty clearly, an old fashioned racist (to complement the new wave alt-right racists). In 1986, Reagan nominated him as a judge and the … [Read More...]

Relatively not bad news about Health Care Reform

Via (one of) the brillian Waldmans I find a very interesting and actually somewhat reassuring article by Caitlin Owens “Obamacare repeal? More like Obamacare reform”. I strongly recommend reading the article which considerably reduced my fear and loathing. An excerpt To be clear: Republicans will likely call whatever they … [Read More...]

James Comey Must Go

Sari Horwitz and Ellen Nakashima at the Washington Post report Senior FBI officials were informed about the discovery of new emails potentially relevant to the investigation of Hillary Clinton’s private email server at least two weeks before Director James B. Comey notified Congress, according to federal officials familiar with the … [Read More...]

Repairing Macroeconomics

Here are some vague thoughts on the state of academic macroeconomic research and how it might be improved*. The current mainstream macroeconmic research program has recently been severely criticized by so many extremely emminent econonmists, that it is hard to consider it the main stream. However, the many efforts to … [Read More...]

On The new heavyweight macro critics

I strongly advise you to read this post by Noah Smith and then click his links and read all of Romer (I have) and Kocherlakota (I haven’t yet but advise myself to do it now). update: Kocherlakota’s post is very brief non-technical and brilliant. I advise you … [Read More...]

Washington Post Vs Washington Post

In the Washington Post Abby Phillips wrotes “Clinton isn’t doing better than previous Democrats with Latinos — even against Trump” While Greg Sargent wrote “If this new poll is right, Trump is absolutely shredding the GOP brand with Latinos” Both are horse race journalism, but Sargent is looking … [Read More...]

Premature anti Republicanism

This is an open thread inviting discussion of the very serious people who discuss how opinions differ on shape of planet, but no longer claim both sides have a point. I am old enough to remember when only shrill dirty fucking hippies argued that the GOP had gone crazy. After … [Read More...]

Will the Fed be Able to Respond to the Next Recession

On the blogosphere, there is an interesting debate about whether, when the next recession arrives, interests rates will be high enough that the normal approach of cutting the target federal funds rate will be sufficient. In chronological order David Reifschneider, Jared Bernstein, Paul Krugman and Dean Baker contribute their thoughts … [Read More...]

Clinton achieves the impossible

I was fairly certain that if Clinton were elected president and the Democrats were to win a majority in the Senate, that they would lose that majority in 2018. I think that Hillary Clinton may have proven me wrong and found the only way to prevent that — by causing the … [Read More...]

The Stagnation Capitulation and The Taper Tantrum

Paul Krugman interpreted the recent decline of 10 year safe interest rates from extremely low to astonishingly low as a capitulation to stagnation. He argued (convincingly) that investors have decided that short term safe interest rates will remain extremely low for a long time (evidently at least 10 years) and that the … [Read More...]

Jon Chait rhymes with Click Bait

I find Jon Chait extremely interesting and stimulating. I often check his blog and regret the rareness of his posts (look who’s typing). He usually overstates his case and has an even the liberal New Republic hippy punching background. This subtitle is pure click bait How Can Hillary Clinton … [Read More...]

Tump the Debt

Needless to say, Donald Trump has expressed some odd ideas on the US national debt. He has argued that we can’t afford this or that because we are 19 trillion in debt, promised to pay back the debt in 8 years, & asserted that the debt is no big problem (one … [Read More...]

The USA is not in a liquidity trap any more

This post is related to the debate about fiscal policy and medium run growth which has become entangled with the Sanders or Clinton debate (which I will attempt to avoid). Some extremely Keynesian economists (DeLong, Pro Growth Liberal,, Menzie Chin, Paul Krugman, and (warning pdf) C and D Romer have … [Read More...]

Disagreeing with Paul Krugman ? 2

Still looking for a case in which I disagree with Paul Krugman, I jump in the deep end and discuss his thoughts on international trade in “The Return of Elasticity Pessimism (Wonkish)”. That is “the belief that trade flows barely respond to price signals, and hence that devaluations … [Read More...]