Daily Economy
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A Recession the Yield Curve Predicted (Again)
“We get the signal that another recession will arrive within 12-18 months, then we get the signal that says recession is imminent. The door knocks are getting harder and louder. Something’s out there.” ~Richard M. Salsman
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How the Ukraine War Will End
“The United States should begin working with Ukraine to help it determine what its political future will be. Having Ukraine become a new Cold War-era Austria or Finland is probably the best outcome for a tragic situation.” ~Andrew Byers
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The Federal Reserve and Pandora’s Box
“In the name of preventing a second Great Depression, then-Fed Chairman Ben Bernanke opened a Pandora’s Box of monetary ills in 2008. And like the Greek myth, there may be no way of putting these ills back in the box.” ~Paul Mueller
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AIER’s Everyday Price Index Creeps up Slightly in July 2024
“Housing costs continue to drive inflation higher. Some economists had forecast that substantial rent increases would have eased by now, but the numbers suggest that the housing inflation story isn’t over yet.” ~Peter C. Earle
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Loury’s ‘Late Admissions’ is Right on Time
“Economists often get lost in abstractions…By coming to terms with himself, Glenn Loury gains a deeper understanding of the challenges and opportunities facing the same communities in which he was raised.” ~Michael N. Peterson
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Moderate Inflation Returns in July
“To judge whether monetary policy is loose, it is not enough to show that monetary aggregates are growing at historically low rates. What matters is whether the money supply is growing faster than money demand.” ~Alexander W. Salter
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Do EV Producers Need Taxpayers’ Protection?
“Protectionist subsidy of American EV producers necessarily diverts resources away from other industries in the US. What is the value of the production that declines in America because of EV protection?” ~Donald J. Boudreaux
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What Chalkboard Curves Ignore
“When dealing with public policies, however, we should remember that using just one diagram may still be misleading. More than one incentive story or relationship is usually in play.” ~Gary M. Galles
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Price Theory and Portion Sizes: Why Chipotle Got Cut for Cutting Costs
“Chipotle leadership could try the risky option of waiting out the bad PR, but the brand may not be willing to take that risk. It’s not expensive for customers to switch to a Chipotle substitute.” ~Andrew den Boggende and Thomas Savidge
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Erik Angner’s Defense of Our Dismal Discipline
“The conversational tone is excellent for the wide audience he intends — those skeptical of economists and economics — and it’s easy enough to follow along his clear prose even for those without prior training in our arcane arts. ” ~Joakim Book
-
•
A Recession the Yield Curve Predicted (Again)
“We get the signal that another recession will arrive within 12-18 months, then we get the signal that says recession is imminent. The door knocks are getting harder and louder. Something’s out there.” ~Richard M. Salsman
-
•
How the Ukraine War Will End
“The United States should begin working with Ukraine to help it determine what its political future will be. Having Ukraine become a new Cold War-era Austria or Finland is probably the best outcome for a tragic situation.” ~Andrew Byers
-
•
The Federal Reserve and Pandora’s Box
“In the name of preventing a second Great Depression, then-Fed Chairman Ben Bernanke opened a Pandora’s Box of monetary ills in 2008. And like the Greek myth, there may be no way of putting these ills back in the box.” ~Paul Mueller
-
•
AIER’s Everyday Price Index Creeps up Slightly in July 2024
“Housing costs continue to drive inflation higher. Some economists had forecast that substantial rent increases would have eased by now, but the numbers suggest that the housing inflation story isn’t over yet.” ~Peter C. Earle
-
•
Loury’s ‘Late Admissions’ is Right on Time
“Economists often get lost in abstractions…By coming to terms with himself, Glenn Loury gains a deeper understanding of the challenges and opportunities facing the same communities in which he was raised.” ~Michael N. Peterson
-
•
Moderate Inflation Returns in July
“To judge whether monetary policy is loose, it is not enough to show that monetary aggregates are growing at historically low rates. What matters is whether the money supply is growing faster than money demand.” ~Alexander W. Salter
-
•
Do EV Producers Need Taxpayers’ Protection?
“Protectionist subsidy of American EV producers necessarily diverts resources away from other industries in the US. What is the value of the production that declines in America because of EV protection?” ~Donald J. Boudreaux
-
•
What Chalkboard Curves Ignore
“When dealing with public policies, however, we should remember that using just one diagram may still be misleading. More than one incentive story or relationship is usually in play.” ~Gary M. Galles
-
•
Price Theory and Portion Sizes: Why Chipotle Got Cut for Cutting Costs
“Chipotle leadership could try the risky option of waiting out the bad PR, but the brand may not be willing to take that risk. It’s not expensive for customers to switch to a Chipotle substitute.” ~Andrew den Boggende and Thomas Savidge
-
•
Erik Angner’s Defense of Our Dismal Discipline
“The conversational tone is excellent for the wide audience he intends — those skeptical of economists and economics — and it’s easy enough to follow along his clear prose even for those without prior training in our arcane arts. ” ~Joakim Book