Archive for the ‘Recession/Stimulus’ Category

References/Links to stuff you might like: recession, race, and trade

July 11th, 2016

First, the NYT’s Room for Debate series asks the important question: Are we ready for the next recession? As OTE regulars know, I say “no,” based on monetary policy, fiscal policy, and politics (otherwise, we’re fine…). I enjoyed other entries that stressed the importance of direct job creation programs, which make a lot of sense, especially… Read more

Bond yields are just so damn low…what is that telling us?

July 6th, 2016

I pour the morning cup of mud, schlep out to the stoop to get my paper, and open my WSJ to learn that the yield curve is awfully flat (i.e., the difference between the interest rates of bonds of different maturities is low). In fact, the yield on the 10-yr–1.367% yesterday–is the lowest on record…. Read more

Brexit and austerity: they’re connected

June 27th, 2016

As I discuss in today’s WaPo, Brexit was a function of many factors: –PM David Cameron’s reckless, opportunistic political gambit: calling for the referendum back in 2013 to assuage his far right Euro-skeptics in time for the upcoming election. –Strong anti-immigration and anti-globalization sentiments. The unleashed xenophobia, surely linked to the refugee crisis, is to… Read more

More on path dependency: describing the past is not endorsing the past…but these are the facts, like ‘em or not.

February 18th, 2016

I’ve apparently managed to confuse some people in my post yesterday about federal government spending and taxing as a share of the economy. Though to be fair to myself, always a good practice, it looks to me like those people a) don’t read my stuff (unforgivable!), or b) don’t want to face historical facts. First,… Read more