Tax Cuts, Deficits, Debt

The current bill finding it's way through Congress from Senate to House regarding "tax cuts" will add to the deficit.  How much? $857 billion worth.  That means that this bill, which is in fact a stimulus bill, is actually a bigger stimulus bill than the one Obama and Congress passed in February 2009. The earlier … Continue reading Tax Cuts, Deficits, Debt

Nope, No Inflation Around Here

The folks who have been opposed to stimulus, either by the government or The Federal Reserve, keep raising the specter of inflation.  Often they drag out the ghosts of hyperinflations past in places like 1923 Weimar Germany or modern day Zimbabwe. It's always eithere inflation or government "bankruptcy" that's just around the corner.  It's supposedly … Continue reading Nope, No Inflation Around Here

History of Full Employment Efforts

Victor Quirk, an associate of Bill Mitchell of the BillyBlog provides a very long, but very readable history of English-tradition legislative efforts to promote full employment here.  The story begins all the way back in 1536.  An excellent and informative read for any history buff. A long excerpt below the fold: In 1536, for example, … Continue reading History of Full Employment Efforts

The Necessity of Extending Unemployment Benefits

James Hamilton at Econbrowser summarizes my thoughts too: Extending unemployment benefits Here I make two quick observations on the policies being discussed. The first point has been widely noted, but it bears repeating since I keep hearing comments from people who seem to be unaware of it. When you hear that current unemployment benefits can … Continue reading The Necessity of Extending Unemployment Benefits

Home Foreclosures – Write Your Attorney General

I support this from Yves Smith at Naked Capitalism.  The law must be upheld. Fraud is fraud. It is not "paperwork glitches" or "snafus" or "correctable errors".  It has been the policy of the banks and mortgage servicing organizations to file en mass false statements and false documents in our courts.  These practices will not … Continue reading Home Foreclosures – Write Your Attorney General

Just What I Would Imagine

Brad Delong quotes Mike Boskin on comparing talking to Principles of Economics students vs. being Chair of the President's Council of Economic Advisors: I think that one of Christie Romer's predecessors as CEA Chair, Stanford economist and Republican Mike Boskin, says it best. Being Chair of the CEA and advising all the political appointees in … Continue reading Just What I Would Imagine