Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
Browsing Category
Political Economy
Let me tell you why I’m still worried before detailing the positive economic data
Yesterday I promised you to “look at individual economic data points and tell you why I think they bolster the case for optimism about the economic trajectory.” But before I get into that let me tell you why I still worry about the…
Brexit was a cry of financial pain and not the influence of the old
There has been much debate on the determinants of the vote for Brexit. This column uses newly released data from the Understanding Society study to examine the characteristics of individuals who were for and against Brexit. Unhappiness…
Crony capitalism and redistribution
This is a thought piece. And so it’s going to be relatively) brief since I haven’t fleshed out all of my ideas here. But I want to run something by you based on a piece Matt Klein wrote over at FT Alphaville on macro policy. Let me point to…
Germany’s coalition talks are sowing the seeds of the euro’s breakup
For years now within Germany’s policy circles, there have been many who have pushed for an ‘expulsion’ or ‘voluntary exit’ mechanism for the Eurozone. I am now hearing this position advocated by FDP head Christian Lindner, a potential…
Trump’s working class sellout, tactical nuclear weapons, government shutdown, tax reform and…
Since Donald Trump became president, his core economic agenda has been sidetracked repeatedly by so-called cultural issues. However, now the administration is stepping up its tax reform effort. Even so, other issues threaten to derail this…
On the coming failure of Trump’s tax plan
Recently I wrote that Donald Trump has failed to deliver any signs that tangible economic benefits are coming down the pike for his working class and blue collar base of support. It seems Trump has ‘sold out’ and is turning to corporate tax…
The failure of the Trump presidency
We are only seven months into Donald Trump’s presidency. And I think we can call it a failure. I’ll have a lot more to say on that momentarily. But I want to flag this as not being a dealbreaker for the US or global economy because people…
The limits of monetary policy in today’s fiat currency world
As the Federal Reserve meets at Jackson Hole this week, I thought now would be a good time to talk about the limits of monetary policy - and why monetary policy alone cannot restore robust growth. And as I write this I want to make clear…
How Brexit makes Britain poorer, forcing Carney to stay his hand
The risk in the UK is an inflationary recession. For now, Mark Carney is resisting a rate hike. But how long will the Bank of England hold out? And how long can British consumers keep spending if real wages are falling? Two things would…
Why talk of a soft Brexit is misplaced
I have been hearing a lot of pundits talk about how the UK election changes the outlook for Brexit. And a lot of this stuff is misguided because the election doesn’t change the outlook in any discernible way. Here’s why.