Monetary Economics
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$30 Trillion With Neither a Whimper or Bang
“On February 1st 2022 the US national debt surpassed $30 Trillion for the first time – just as the Fed is preparing a hiking campaign. Political decisions to trade the future for the present tempt further assaults upon the ever-declining soundness of the US dollar.” ~ Peter C. Earle
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Biden’s Fed Nominees a Tit-for-Tat Response to Trump’s
“Fortunately, especially for the regular people who would stand to suffer the most under a politicized Fed, there were enough conservatives to band together to block Trump. Will there be enough principled liberals to sanction Biden?” ~ Daniel J. Smith
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Political Partisanship Has No Place at the Federal Reserve
“The Fed already lost credibility by missing its stated inflation target, and the nomination of partisan actors such as Cook would further throttle its credibility.” ~ Phillip W. Magness & David Waugh
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Putin, Ukraine, and Covid
“Russia is not, by far, the only nation for which the Covid pandemic starkly exposed a variety of limitations. But whether in volumes or a few paragraphs, history must reflect the role that one of many influences, a global pandemic, played.” ~ Peter C. Earle
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Death by Inflation or by Interest Rate Hikes?
“If central banks protect the value of the currency, they will create an economic crisis. If they try to avoid the economic crisis, they will destroy the value of the currency and cause a monetary crisis anyway.” ~ Daniel Fernández
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Covid Paycheck Protection Program: Promises Not Kept
“The fact that PPP was poorly thought through, recklessly implemented and administered, and ended up benefiting those who are least likely to need it is, for politicians and bureaucrats, a feature, not a bug.” ~ Veronique de Rugy
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The Year of the Strong Dollar
“The urgency to correct the country’s large public finances is likely to be heightened by a further widening in the trade deficit in 2022 as the consequence of a stronger dollar and the relative strength of the U.S. economy.” ~ Desmond Lachman
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Funding Obsolete Transportation
“Transit subsidies make no more sense than subsidies to manual typewriters, rotary telephones, or steam locomotives. Designing transportation systems based on how people actually travel can make those systems safe, environmentally sensitive, resilient, and efficient.” ~ Randal O’Toole
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How The World Really Works
“Smil’s is much more concerned with what is and what is not physically possible. Thus, his meticulously researched words are for anyone who wants his priors reexamined and feathers ruffled. It’s what the 2020s desperately need.” ~ Joakim Book
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What the Hell is Inflation Anyway?
“Words mean different things to different people, and their meanings change over time. How we define inflation is a matter of choice, but we must also recognize that choice reflects more fundamental beliefs about how the economy functions.” ~ Michael J. Douma
-
•
$30 Trillion With Neither a Whimper or Bang
“On February 1st 2022 the US national debt surpassed $30 Trillion for the first time – just as the Fed is preparing a hiking campaign. Political decisions to trade the future for the present tempt further assaults upon the ever-declining soundness of the US dollar.” ~ Peter C. Earle
-
•
Biden’s Fed Nominees a Tit-for-Tat Response to Trump’s
“Fortunately, especially for the regular people who would stand to suffer the most under a politicized Fed, there were enough conservatives to band together to block Trump. Will there be enough principled liberals to sanction Biden?” ~ Daniel J. Smith
-
•
Political Partisanship Has No Place at the Federal Reserve
“The Fed already lost credibility by missing its stated inflation target, and the nomination of partisan actors such as Cook would further throttle its credibility.” ~ Phillip W. Magness & David Waugh
-
•
Putin, Ukraine, and Covid
“Russia is not, by far, the only nation for which the Covid pandemic starkly exposed a variety of limitations. But whether in volumes or a few paragraphs, history must reflect the role that one of many influences, a global pandemic, played.” ~ Peter C. Earle
-
•
Death by Inflation or by Interest Rate Hikes?
“If central banks protect the value of the currency, they will create an economic crisis. If they try to avoid the economic crisis, they will destroy the value of the currency and cause a monetary crisis anyway.” ~ Daniel Fernández
-
•
Covid Paycheck Protection Program: Promises Not Kept
“The fact that PPP was poorly thought through, recklessly implemented and administered, and ended up benefiting those who are least likely to need it is, for politicians and bureaucrats, a feature, not a bug.” ~ Veronique de Rugy
-
•
The Year of the Strong Dollar
“The urgency to correct the country’s large public finances is likely to be heightened by a further widening in the trade deficit in 2022 as the consequence of a stronger dollar and the relative strength of the U.S. economy.” ~ Desmond Lachman
-
•
Funding Obsolete Transportation
“Transit subsidies make no more sense than subsidies to manual typewriters, rotary telephones, or steam locomotives. Designing transportation systems based on how people actually travel can make those systems safe, environmentally sensitive, resilient, and efficient.” ~ Randal O’Toole
-
•
How The World Really Works
“Smil’s is much more concerned with what is and what is not physically possible. Thus, his meticulously researched words are for anyone who wants his priors reexamined and feathers ruffled. It’s what the 2020s desperately need.” ~ Joakim Book
-
•
What the Hell is Inflation Anyway?
“Words mean different things to different people, and their meanings change over time. How we define inflation is a matter of choice, but we must also recognize that choice reflects more fundamental beliefs about how the economy functions.” ~ Michael J. Douma