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

When to Stop Reading a “Non-Fiction” Article

(cross-posted from Skippy the Bush Kangaroo) Mark Thoma sends us to Benjamin M. Friedman. Given that imprimatur, one expects precise analysis. (Mark, after all, is an econometrician by trade.) So it was surprising to stop reading so early. Specifically, I gave up on this cretinous piece of garbage at: especially during the president’s first year […]

Tim Duy Explictly Declares Reality is Real

And confirms that his own position: is the same as that of Brad DeLong (et cetera.) and those of us who try paying bills [T]he [Federal Funds Interest Rate target] debate has shifted in the opposite direction as market participants weigh the possibility of a rate cut. The Fed is probably not there yet, but […]

The Fed Continues Trying to be Insane

The Fed did the right thing, and moved in the right direction, though in part for the wrong reason today. Go to Tim Duy for the rational approach. For me, I quote the Fed Inflation is expected to remain low in the near term, in part because of earlier declines in energy prices, but to […]

When He’s Right, He’s Right

Brad DeLong (via Mark Thoma, since my desktop is dead and I saw Mark’s post first): I question Noah [Smith]’s description of the people as “brightest”. If you insist on trying to understand business cycles by requiring a single consumption Euler equation (rather than, say, risk-averse rich 70-somethings with short horizons; myopic middle-class 40-somethings, and […]