People who quarrel with those with whom they mostly agree and focus on the “to be sure” paragraph of a column with which they mostly agree are a nuisance. I am such a nuisance. Jon Chait wrote an article noting that the GOP accepts antisemitism and the Democrats don’t. He makes his case. However, he […]
It’s that time again*: we have reached the stage in the business cycle when normally sensible economists are alarmed that the Beveridge curve has shifted up. Paul Krugman is (as usual) on the side of relative reason, but he miss-used the curve in this figure Here he uses the data *and* the assumption that there […]
The US military has ideas about how Taiwan can protect itself from a possible Chinese invasion (and therefore deter that invasion) I think they are very good ideas. I think that the proposed program would markedly reduce the threat of a PRC invasion of Taiwan, which is the most alarming threat currently faced by the […]
The conclusion is the standard conclusion that US inflation is currently definitely too high
This is my second post on the recent troubles with Sterling. In the first, I discussed vibes, mood, and animal spirits. I do think that is the best way to think about what’s going on, but I promised to write as an economist typically do (not as we all our in this case). The basic […]
I really have to write about macroeconomics given the drama across the Channel in the UK. The story so far is that New Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng have managed to spook money managers by threatening to cut their taxes . Kwarteng proposed a mini budget cutting the top […]
Neofascist Giorgia Meloni will be the next Italian Prime minister. I feel I have to write about this being in Rome, but I am clueless as to how it happened (I wasn’t optimistic a year ago – I was expecting authoritarian xenophobe demagogue Matteo Salvini to be the next Italian prime minister — I guess […]
I have two thoughts. The first is that major party presidential candidates would be wise to stop participating in big dollar fundraising events. The second is that we can identify the effect of money on political success, but usually assume that correlation is causation. I think that three major party candidates have seriously hurt themselves […]
As usual it is best to just click and read as the column is well crafted and I can’t summarize or explain well. The topic? “On Monday, President Biden announced that Dr. Renee Wegrzyn, a biotech executive who previously worked at the Defense Advanced Research Projects Agency, better known as Darpa, would be the first […]
On April 1 2022 I wrote “I score Robert 4 Pentagon 0. I currently oppose the F-35 procurement program. No score yet.” I didn’t know that 4 days earlier on March 28 2022 Valerie Insinna had published “F-35 cuts, F-15 boost, and E-3 replacement: Air Force’s $170B budget makes big moves in FY23“ “the biggest […]