Archive for the ‘New Posts’ Category

Links, and some warm music for these chilly times

January 19th, 2018

–Ask not for whom the shutdown tolls. It tolls for thee. IE, it does if you’re someone who recognizes the need for functional gov’t. Over at WaPo. To be clear, this is not a critique of the D senators that are blocking the deal. As a friend puts it, “They are forcing governance in the… Read more

Links; more on heating vs. overheating.

January 12th, 2018

Medicaid is a highly efficient program (see figure below), delivering health coverage to 70 million low-income persons while conveying many ancillary benefits on its beneficiaries, as Hannah Katch and I point out in the NYT oped. So, of course, Republicans want to lay waste to it. They were blocked from doing so through their ACA… Read more

Is it getting a little warm around here?

January 11th, 2018

The front page of my WSJ this AM, above the fold, screams: “Treasury Yields Ripple Through Markets.” The 10-year yield was up for five days straight as of yesterday, approach a 52-week high at 2.609%. The 10-year “breakeven rate,” a market-based measure of inflation expectations (it’s the difference between the 10-year rate on inflation-protected bonds… Read more

Questions for the MMTers

January 7th, 2018

As their adherents readily, and fairly, remind me, there’s a lot I don’t understand about modern monetary theory (MMT). So, let me ask about some aspects of the theory and see if I might get me some education. First, I’ve stressed that, as I understand it, there’s no distance between my views and a core… Read more