That's going to stir the pot. It's good to find out what's in the pot, particulary since we have been eating this stuff for a long time. I thought it was beef bourguignon, Prof. Cochrane says it is roadkill. Let's find out. Time for the science of economics to confront the rebutable presumption.
I would add...why not use QE to build the Fed's balance sheet?
If interest rates are going to rise as lenders fear the US Treasury cannot meet its debt obligations...then surely, if the Fed owned, say half the national debt and fed interest back into the Treasury, that would help alleviate those concerns.
Yes, I would prefer roughly balanced federal budgets. And a smaller government. And peace on earth, and less vulgarity in modern entertainment and political discourse.
So I take from this - it’s complex and it might just be there are some economics of repute behind the Trump policies ? Or have i got that wrong 😑. I love economics - I am a total amateur- but f@“k me - can you agree on anything. And if we cant can economics be ideologically neutral - probably not. I always thought law was about application of principles of evidence in the pursuit of truth but then realised it was about power and control of the evidence. Anyway going give this another read - when is the WSJ publishing?
Friends, in this essay you read an honest, intelligent, informed professional economist who has no bone to grind. Is it not refreshing and inspiring? I am but the first adjective, but I agree completely with professor Cochrane's assessment of the 40-year blind alley.
That's going to stir the pot. It's good to find out what's in the pot, particulary since we have been eating this stuff for a long time. I thought it was beef bourguignon, Prof. Cochrane says it is roadkill. Let's find out. Time for the science of economics to confront the rebutable presumption.
I enjoyed this post.
I would add...why not use QE to build the Fed's balance sheet?
If interest rates are going to rise as lenders fear the US Treasury cannot meet its debt obligations...then surely, if the Fed owned, say half the national debt and fed interest back into the Treasury, that would help alleviate those concerns.
Yes, I would prefer roughly balanced federal budgets. And a smaller government. And peace on earth, and less vulgarity in modern entertainment and political discourse.
But given realities...is QE such a bad iea?
So I take from this - it’s complex and it might just be there are some economics of repute behind the Trump policies ? Or have i got that wrong 😑. I love economics - I am a total amateur- but f@“k me - can you agree on anything. And if we cant can economics be ideologically neutral - probably not. I always thought law was about application of principles of evidence in the pursuit of truth but then realised it was about power and control of the evidence. Anyway going give this another read - when is the WSJ publishing?
Friends, in this essay you read an honest, intelligent, informed professional economist who has no bone to grind. Is it not refreshing and inspiring? I am but the first adjective, but I agree completely with professor Cochrane's assessment of the 40-year blind alley.