Fiscal Deficit Fetishism
What’s the most important problem facing the US today? Global warming? Rising tensions in the Middle East? Political dysfunction in Congress? No, none of the above. Apparently, it’s the deficit,...
View ArticleScotland going from one jail cell to another
An independent Scotland will be able to keep the pound, the UK government will argue next month – but only if Scottish ministers accept budget constraints set by London. The reality is that the UK...
View ArticleThe sequester sillies
As of today, it looks like Congress will not avert the dreaded sequester – the government’s latest wheeze to deal with the supposed “deficit crisis” (which incidentally is projected to fall under $1...
View ArticleThere won’t be a central bank exit strategy
Fed Chairman Bernanke, in response to questions on day two of his semiannual testimony to Congress last week said the exit strategy laid out in June 2011 needs to be reviewed. It doesn’t need to be...
View ArticleAnother Rubinite to the White House?
Bob Rubin and his acolytes are like the belched-up after-taste of bad pizza one consumed the night before. No matter how many times you brush your teeth or swallow copious amounts of mouthwash, the...
View ArticleIn praise of political dysfunction
The lamentable state of American political parties has become common sport amongst the chattering classes in DC and beyond, although one wonders whether this dysfunction has really been such a bad...
View ArticleMaybe fiscal austerity does have an impact?
Sales of new cars and trucks in the U.S. have cooled to the slowest pace in more than three years even as automakers increase spending on incentives. Maybe all of those “responsible” government...
View ArticleRe-thinking the risk-reward for government investment
Using revenue collected from drilling on public lands to fund alternative energy research will help Americans break their dependence on oil, President Barack Obama predicted in his weekly address on...
View ArticleBen Bernanke is Alfred E. Newman –“What, me worry?”
You remember this image from Mad Magazine? That’s Alfred E. Newman, he of the famous “What Me Worry?” tag line. No wait, on 2nd thought, perhaps it’s US Federal Reserve Chairman Ben Bernanke, who last...
View ArticleIs the US Economy slowing down?
In spite of significant fiscal restriction introduced earlier this year via the payroll tax hike and more latterly, the sequester, the US economy has continued to show signs of recovery. After seeing...
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