August consumer inflation confirms “Goldilocks” “soft landing” may well be “transitory”  – by New Deal democrat Let me start by quoting from my post yesterday: “As to consumer prices, I am most interested in the relative weights of decelerating shelter increases (which as I have written many times are well-forecasted by the more current home price indexes and new rent indexes) vs. increasing gas prices  “I suspect that the increase in gas...

Larry Summers in the media today with once again, some ridiculous commentary. 

Cautionary Inflation Tale.

Two items this Wednesday before the music segment. First, we saw the stark ideology of the elites on full display in Sydney yesterday with a property developer demanding the government increase unemployment by 40-50 per cent to show the workers that the employer is boss and redistribute more national income back to profits. For anyone who doubts the relevance of a framework based on underlying class conflict between labour and capital, then this outburst should eliminate those doubts. On the...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023. Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023.Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

A slightly edited version of this article first appeared in the Economic and Political Weekly on 22 July 2023.Summary: This article is the third and last in a series of articles on monetary policy debates in the age in which deglobalisation became a buzzword. Here, we continue our discussion of the ongoing Turkish monetary policy experiment by focusing on macroprudential measures, capital controls and central bank independence, as promised in the first article, as an example of these...

The article (example) is about one person suffering from an ailment at 19. Hospitalized at an out-of-network facility, the burden of costs for treatment were his responsibility due to insurance denial. A particular issue with commercial healthcare insurance not covering the costs of treatment because you went to the wrong doctor, etc. for care. More on his case after the intro. There are more than 100 million people in America caught up in...

The causal revolution in econometrics has gone too far Kevin Lewis points us to this recent paper, “Can invasive species lead to sedentary behavior? The time use and obesity impacts of a forest-attacking pest,” published in Elsevier’s Journal of Environmental Economics and Management, which has the following abstract: “Invasive species can significantly disrupt environmental quality and flows of ecosystem services and we are still learning about their...

Clueless elites, who are blind to reality