Wenzel vs. Murphy: You Decide
[UPDATE below.] Well, Bob Wenzel has already been knighted due to his remarks at the NY Fed, so in the interests of keeping Sir Bob humble, I want to recall something back from November. Some of you...
View ArticleWeissenberger and Murphy Solve the World’s Problems in 46 Minutes
Redmond and I talk about climate models and the euro. Never before have so few pontificated about so much for so long.
View ArticleLord Keynes Beautifully Illustrates Why We Get Nowhere in the Stimulus Debate
My son has off from school today and I have agreed to watch old episodes of X-Men with him in 9 minutes… (Hey, I make sacrifices for the next generation.) Therefore I have to be brief, and can’t paint...
View ArticleUpdated Yield Curve Chart
For my Anatomy of the Fed class, I showed how the Austrian theory of the business cycle actually has a very natural explanation of the yield curve’s ability to “predict” recessions. (Details in my...
View ArticlePopping Sumner’s Bubble
[UPDATE below.] I’m telling you guys, “Scott Sumner” is a computer program from another planet, sent to destroy the dollar and soften up Earth for the invasion. Today he writes: I am constantly amazed...
View ArticleMises on “We Owe the Debt to Ourselves”
Wow, did I blog about this back when we had the fall of Western civilization? Anyway Mises–in a footnote of course–could have saved all of us a month of hassle: The most popular of these doctrines is...
View ArticleSumner Courageously Admits He Can’t Explain Housing Bubble
I know a lot of you wonder why I am always so quick to volunteer the fact that I made erroneous warnings about official price measures thus far, but the reason is that I can’t stand analysts who make...
View ArticleQuick Clarification on the Great Debt Debate
My trip to NY has messed me up vis-a-vis my “day job” and so I can’t go nuts on the debt debate the way Nick Rowe is (here, here, here, and here). I hope later in the week to offer two more posts, one...
View ArticleMoney Is a Spontaneous Order Not a Social Contrivance
Everybody has been talking about this “is money a bubble?” controversy. (Nick Rowe, in addition to being awesome on OLG apple models, is also good at linking everybody in this debate.) I want to make...
View ArticleLearning From Brad DeLong and Paul Krugman
Rather than have a long series of posts discussing the fallout from my (price) inflation bet with David R. Henderson, I decided to do one comprehensive reply to Brad DeLong and Paul Krugman. I had...
View ArticlePotpourri
==> An interesting inventory at IER of “federal assets above and below ground.” I didn’t do this particular blog post, but I think it draws on some numbers I compiled in the past. This notion that...
View ArticleMemories of Armen Alchian
Arman Alchien is one of those economists–like Wicksteed–that I would read a lot more of, if I were on a deserted island. (That’s a compliment to them, and a criticism of myself.) He recently died, as...
View ArticleTucker Interviews Murphy on Illusion of Wealth
Laissez-Faire Books has released a new volume with excerpts of Mises talking about the business cycle. (Specifically, we went through Human Action and grabbed what the reader would need to fully...
View ArticleA Nuanced Point in the Outrage Over Cyprus
I meant to remark on this a few days ago, but I’m a busy guy… When the Cyprus bailout-plus-tax-on-depositors was first announced, most people flipped out, saying it was stealing money from the average...
View ArticleIt’s Easy to Be Right When You Don’t Admit You Were Wrong
I’m going to be laying into my two favorite bloggers–Paul Krugman and Scott Sumner–for their slippery handling of the recent rise in Treasury yields. As I’ve said several times on this blog, I think...
View ArticleVon Pepe Is Bearish On China
The brooding von Pepe–who discovered something about himself after the Oprah incident–emails me to bring up the issue of China, which he thinks is classic Austrian business cycle material. I want to be...
View ArticleNews Flash: The Non-Stupid CBO Proves DeLong Was Wrong
I am traveling all week and have to keep this short and sweet. Here’s a chronicle of what happened in yet another exchange of blogfire with my favorite Keynesians: ==> Brad DeLong said, “There are...
View ArticlePotpourri
==> The WSJ and I are pen pals. ==> Next week on Friday (September 27) I’ll be giving a talk at San Jose State on interventionism in the Austrian tradition. (I’m in California because on Saturday...
View ArticleThoughts on the “Nobel” Prize in Economics
This is that special time of year when MarginalRevolution destroys Free Advice in not only objective but also subjective value. Alex and Tyler have so many posts on the new economics laureates that I...
View ArticleIf You’re Not Outraged, You Haven’t Been Reading Scott Sumner’s Blog
This post title is misleading, but I couldn’t think of anything wittier. Scott Sumner calmly discusses reflections from Miles Kimball and says this: In another paper, Kimball spells out the credit...
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