A slightly off-center perspective on monetary problems.

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Nick Rowe on money illusion

May 24, 2020

Facebook Twitter LinkedIn Craig Fratrik sent me a Nick Rowe twitter thread discussing the way that central banks create a nominal anchor. I think I agree with the substance of the thread, but I’m not certain. My hesitation has to do with what seems like an unconventional use of... Read More >>
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Amoral familism in America

Facebook Twitter LinkedIn Dysfunctional societies tend to be tribal, and the strongest form of tribalism is family bonds. Leaders of... Read More >>

The wisdom of Larry Summers

Facebook Twitter LinkedIn Tyler Cowen directed me to a recent interview with Larry Summers: The real crime is not that we miscalibrated... Read More >>

Occam’s Razor and Chinese conspiracy theories

Facebook Twitter LinkedIn Conspiracy theories are a powerful drug, as Penn Jillette once observed (in a Joe Rogan interview.) So... Read More >>

The importance of level targeting

Facebook Twitter LinkedIn I have a new podcast interview with David Beckworth. In the interview I keep bringing up the... Read More >>

Revisiting the mistake

Facebook Twitter LinkedIn Back on April 4, I made this claim: I also predict that in a month or two, when we... Read More >>

We have nothing to fear except a lack of fear itself

Facebook Twitter LinkedIn Lots of people are scratching their heads about the relative strength of the stock market. By that... Read More >>

Not your grandfather’s depression

Facebook Twitter LinkedIn Follow-up to my previous post: Suppose that in 2019 I had told you that during the spring of 2020... Read More >>

How this recession might be different

Facebook Twitter LinkedIn The following are not predictions, rather indications of how this recession (actually depression) might be different:1. Length:... Read More >>

On selective outrage

Facebook Twitter LinkedIn I have consistently criticized authoritarian regimes all over the world—in Russia, China, Vietnam, Turkey, India, the Philippines, Saudi... Read More >>