Relevant and even prescient commentary on news, politics and the economy.

Did the Fed Cause the Great Recession?

With the release of the Fed’s Open Market Committee Meeting minutes from 2008, it has been confirmed that the Fed was too concerned about inflation, and, to quote Marcus Nunes, “worse, the headline kind” leading into the 2008 crash.  The Market Monatarists cite this as evidence that the Fed was responsible for turning a potentially […]

Republican State of Disunion: Taxes Edition

The Republican response to the President’s State of the Union message was delivered by Washington State Rep. Cathy McMorris Rodgers.  It was personal, platitude-ridden, overtly religious, twee, and devoid of policy content or anything else of relevant substance – other than a naked assertion that BHO’s policies are making life harder in myriad unspecified ways. […]

Rational Nonexuberence – Part 1

In comments to this post, the idea is floated that capacity utilization (TCU)  is about to surge. Mark Sadowski, in comment 5 at this post, reminds us that, “Capacity utilization only applies to industrial production, and industrial production consists of only manufacturing, mining and utilities. Thus it is not very representative of the entire economy, […]