Critics of so-called “isolationism” claim a desire to stay out of conflicts like Ukraine are rooted in veneration for Donald Trump and/or Tucker Carlson, partisan disdain for Joe Biden, fear that the U.S. is too weak for global involvement, too broke, or that non-interventionists want to save money, bombs and bullets for the supposedly inevitable war with China over Taiwan.
At the Wall Street Journal, Fed-watcher Timiraos writes that with government measures of inflation having “fallen much faster than expected,” nominal interest rates “adjusted for inflation” have “risen and might be restricting economic activity too much.” He worries that the nothing of notion of “rising real rates” signals great peril for the U.S. economy, and the Fed that allegedly plans it. The good news is that rates aren’t uniform because people aren’t.
Bruce Springsteen’s mother scrimped and saved to get him his first electric guitar. Which hardly makes him unique. His story is like most for the musicians of his era.
Paraphrasing George Orwell, some things are so ridiculous that only an economist could believe them. Take the front-page drama related to China’s alleged “deflation.”
While it’s accepted wisdom among economists that Arthur Burns authored the 1970s inflationary breakout, he did no such thing.
Former Fed official Claudia Sahm believes a tight Fed “could still ruin” what she imagines could be a soft landing.
Abolish federal student loans ASAP. Government should not be inserting itself into education. Just don’t expect tuition to decline.
No doubt prices for many goods are higher post-Covid lockdowns, but Cochrane has mistaken the culprit.
The Fed is full of PhDs bereft of the simple knowledge required to gauge economic health. It’s held down by a near total lack of originality.
Every product and service that we enjoy today used to be nosebleed expensive. Which is why it’s strange that the various economic religions focus so much of their energies on monetary policy. They miss by a mile.