Tag Archive: Economic theories

Starving the Budget

With the fiscal cliff looming, Republicans are indicating some flexibility on taxes, at least for the higher income brackets. Naturally, this is generating some opposition:

To start with, Kristol misunderstands the opponents of the tax increases on the rich, whose main goal is not to ensure that the rich get to keep more of their money. Their main goal is to prevent the federal government from obtaining a new source of revenue. Why might that

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Argentina and Japan

Wasn’t it just like a week ago that Paul “Wrong Way” Krugman was praising Argentina? And wasn’t it this week that he gushed over Japan’s growth, stimulated by tsunami reconstruction?

Oops:

Recently, two more countries have felt the bite of Keynesianism. Today, the credit ratings agency Fitch downgraded Japan’s economy and the AP reported that the Argentinian economy is likely to decline sharply. While Japan and Argentina might be different kinds of economies

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The Deception of a Liberal

Read this. Then read this. The first is Paul Krugman praising Argentina’s “economic model” of plundering, theft and deception, claiming its performance has been comparable to Brazil’s. The second is Juan Carlos Hidalgo’s response pointing out that Krugman (1) uses Argentina’s official inflation numbers, which economic journals have stopped using because they are transparent lies; (2) starts his analysis two years after Argentina’s recession began; (3) compares Argentina with a relatively poorly-performing country … Read more

Paul vs. Paul

Ron Paul and Paul Krugman had a debate about economics (apologies for the link, which auto-plays). You can read Tyler Cowen’s commentary here. I agree with his final take:

There were too many times when RP simply piled polemic points on top of each other and stopped making a sequential argument. He overrates the costs of inflation, including in the long term, and for a believer in the market finds it remarkably non-robust in

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Consensus! The debate is over…

Well, not really but that’s how they operate on the left, so I wonder how they will react to this revelation:

The majority of economists surveyed by the National Association for Business Economics believe that the federal deficit should be reduced only or primarily through spending cuts.

The survey out Monday found that 56 percent of the NABE members surveyed felt that way, while 37 percent said they favor equal parts spending cuts and

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Jobs

I’ve been thinking a lot about the job problem in this country. Jobs are the problem right now. One in eleven Americans is unemployed, the knock-on economic effects are making a bad deficit situation worse and a long-term culture of dependence is being created. I am under no delusion that a blog post will change anything. But I thought I’d write up about 2000 words of thoughts on the subject so you’ll know where I’m … Read more

The Obama economic recovery!

The employment numbers for last month are abysmal. Well, here is some more salt in the wounds of the Keynesian morons running the country: half of last month’s new jobs came from McDonalds!

SG: Economists watered down expectations to 125,000 jobs created in May after a 244,000 gain in April, after several disappointing indicators, notably the ADP employment gauge and ISM manufacturing poll.

SG: McDonald’s ran a big hiring day on April

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