Archive for the ‘New Posts’ Category

A few quick Fed points…

February 19th, 2015

1) The sharply stronger dollar, as Martin Wolf points out, pushes against Fed tightening: it reduces inflation, weakens demand for our exports, and by most analysts accounts, will lower real GDP growth by something on the order of 0.5% over the next year, given its recent appreciation. 2) In their just released minutes, the Fed… Read more

Read this now: a trenchant oped by Greek finance minister Varoufakis

February 16th, 2015

To me it reads like the correct dosage of mind and heart and as such comes across as both a rational and heartfelt approach to the least harmful/most potentially helpful way forward in resolving the debt/fiscal crisis. I guess some clever austerian could argue that the claim “I’m not using game theory” would fit quite neatly… Read more

No, negotiating a currency chapter in the TPP will not cause a trade war or cost us jobs.

February 16th, 2015

You really need an anthology of catch-phrases you hear in this benighted town of DC to understand the difference between what people actually say and what they mean. When someone says “my good friends from the other side of the aisle…,” they’re not really good friends. And when someone says, “that will cause a trade… Read more

A few different articles that caught the eye in recent days…

February 11th, 2015

–Teresa Tritch, with characteristic efficiency, nails the essentials of the building Greek/German showdown, emphasizing the critical point that this isn’t a simple story of virtuous lenders and profligate borrowers. Both sides swam in de-Nile since Greece entered the eurozone, and now that the implosion has occurred, the Greeks cannot be the only ones to shoulder… Read more

The tyranny of averages, “deltas” and the need for some version of zero-based budgeting

February 9th, 2015

I’m trying to finish my book so this post will be briefer than it should be as it’s a weighty topic, but let me scratch out the idea as a marker to return to it. Reading much budget analysis of late, especially regarding spending levels and those unfortunate caps against which appropriators from both side… Read more