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

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The Optimal Gasoline Tax

…suggests that the UK should cut its gasoline tax in half, while the U.S. should double its gasoline tax. The UK tax rate is around $2.80 per gallon, while the…

Low Savings as Key to Prosperity?

…fails to point out that the path to our present debt situation has been a prosperous one, with inflation, interest rates, and unemployment all falling from double-digit rates to levels…

Thinking Short Term

…might be more appropriate. Of course, she was hoping “that her home’s double-digit rate of appreciation would bail her out if she had trouble repaying the loan.” I’ve heard that…

Seriously, Wall Street Journal

…the productivity gains since 2000 are “unprecedented” but I’ll leave that for another time.]” Deciding to double-down on mendacity (alert readers will recall that I was recently in Las Vegas),…

Exporting Gold Bugs to China

…Chinese inflation. The IMF data also shows that China’s monetary growth rates have been double-digit since 1997, which is what one would expect under a fixed exchange rate regime where…

US Oil Imports

…the US now spends close to $20 bn per month on imported oil, roughly double the average of just two years ago. But it is worth noting that US oil…

Fact Checking Kudlow’s Latest

…with the measure growing 7.5 percent over the year-ago pace. That explains double-digit federal tax-collection returns: Lower tax-rates have expanded incomes, which are in turn throwing off more revenues. This,…

Bad Times in Britain?

…idea that double-digit price gains can’t last forever. Prices overall have been flat, with small increases in some areas and declines in others. Note that the run-up in house prices…