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Tag Archives: history

A Longgg Time Series of Safe Real Interest Rates

I learn from Brad DeLong (nickname delong run) that Paul Schmelzing has gone to a truly heroic effort and estimated safe real interest rates since 1310! The main point is the long slow decline (it is ironic that one of the stylized growth “facts” is that there is no clear trend in real interest rates. Brad discusses this at length at his SubStack. Oddly, although he is one of the Efficient Markets Hypothesis’s worst enemies not named Robert...

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The coming of the 14th Amendment and Why

The following sounds familiar, yes? Not much has changed since the Civil War. Still the same attitude, we belong but only on our terms. The Democrats of the South, now today’s Republicans starve for some type of leadership and glommed on to trump. What a compliment to trump that someone needed him and adored him. The murder of Lincoln was unfortunate. Southerners again had Black Americans under their thumb regardless of constitutional amendments...

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January 26, 2024, Letters from an American,

As far as you and I, antics in a court room would not have been acceptable. Trump is begging for a jail cell. Begging so he can claim to be a martyr for his beliefs. No feeding of the chimps no matter how much they jump up and down and toss excrement at you. It has to be frustrating to him that no one will react, January 26, 2024, Letters from an American, Prof. Heather Cox-Richardson This afternoon a jury of nine Americans deliberated for less...

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Elmore Nickleberry, Memphis sanitation worker 1968

Kind of hard to keep track of this these days. In 1968, I left for the Corps, Boot Camp and then over to Fort Monmouth to be trained as a Crypto Tech. I was sent back to California and the to Camp LeJeune, North Carolina. Back and forth out of Cuba. Times are changing; but not fast enough for people who have been subjugated to a lifetime of discrimination. Can’t be many of those left who marched in this Memphis strike and then experienced the...

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Texas’s Crimes Against Humanity Causes the Deaths of Three at the Border

January 17, 2023, Letters from an American, Prof, Heather Cox Richardson Texas attorney general Ken Paxton responded this evening to the federal government’s demand that state troops give U.S. Border Patrol agents access to Shelby Park in Eagle Pass, Texas, the site where three migrants died last week as they tried to cross the Rio Grande.  Aarón Torres and Joseph Morton of The Dallas Morning News reported that Paxton’s letter acknowledged that...

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Marking my Beliefs to Market N

In 1980 I had a long argument with an unfortunate guy who didn’t just say “let’s agree to disagree” which sometimes works. He was arguing that the US should build B-1s, then the weapon of the future. I argued that the US should rely on Tomahawk missiles (launched from B-52s) which I asserted were the weapon of the future. It is now what was in 1980 the future and guess what weapon was used yesterday (hint it wasn’t a B-1 bomber). I love to say...

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Is America a racist country?

Decades ago, I read a column by Andrew Young, the former Atlanta Mayor and UN representative, in which he wrote that you should never trust anyone who says they aren’t racist. You should say I’m working on my racism.Recently, the former South Carolina governor and current GOP presidential candidate Nikki Haley omitted to mention that slavery was a cause of the Civil War (it was *the* cause–see the Cornerstone Document, as just one exhibit). Now,...

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For MLK Day: Blacks are faring better during the post-pandemic Boom than at almost any time in the previous 50+ years

For MLK Day: Blacks are faring better during the post-pandemic Boom than at almost any time in the previous 50+ years  – by New Deal democrat On this MLK Jr. national holiday, let’s take a look at how Blacks are faring in the current economy. And the answer is, pretty good! The unemployment rate for Blacks in December was the 2nd lowest ever in 50+ years of history, at 5.2%. The lowest was last April at 4.8%: The Black unemployment...

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Capitalism prevails

I’m reading Homelands: A personal history of Europe by Timothy Garton Ash. The book is organized by decades, and the decade of 1980-89 was a historically significant one for Central Europe. By the end of the decade, the “communist” dictatorships in Poland, Hungary, East Germany and Czechoslovakia had collapsed.Real history resists simplification, but to simplify, the seemingly permanent division of communist East and capitalist West succumbed to the...

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The Big Crunch

Our current economic model, premised on profits and returns, consumption, and growth — on greed, has proven to be problematic for the environment, society, and governance.*   Over time, humans have inflicted grave damage to the land, forests, rivers, streams, and atmosphere. Some of this was in the interest of survival. A lot more was done in the interest of greed. Of late, we have done especially grave damage to the atmosphere by burning...

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