AsPaul Krugmannotes, the really scary thing is that Spain and Italy, which were relatively untouched by the fears last spring, have also seen dramatic moves up in their apparent risk premia. Yield on 10-year Spanish government bonds. Source: Bloomberg GSPG10YR. Yield on 10-year Italian gove...
A small drop in oil prices is good for the economy, but Paul Krugman says a big drop like the one we’ve seen latelycould be bad. Alana Semuels visits Juarez, Mexico,to look at labor unrest on the U.S.-Mexico border. Investment managerConor Sen writesabout trying to stay calm throug...
Economist Paul Krugman has taken up the cudgels for public employees, noting that "spittle flecked denuncia- tions of unions" often stretch the truth and con- cluding "this is a phony issue." The National Re- view counters with examples of unions wreaking havoc on municipal budgets all ...
New York Times hacked by Chinese government, Paul Krugman's economic policies stolen White House: when President shoots skeet, he donates the meat to food banks that feed the middle class To prove he is serious, Obama eliminates armed guard protection for President, Vice-President, and their fa...
New York Times hacked by Chinese government, Paul Krugman's economic policies stolen White House: when President shoots skeet, he donates the meat to food banks that feed the middle class To prove he is serious, Obama eliminates armed guard protection for President, Vice-President, and their fa...
Nobel-laureate economist Paul Krugman put it rather similarly back in 2013: Fiat money, if you like, is backed by men with guns. Of course, we could just as easily ask, since the government is using force to collect taxes to provision itself, why can’t it just collect commodity money ...
This is the same business Scott Fullwiler went through with Krugman, which Krugman didn’t seem understand initially. A bank does not make its loans out of a stock of funds that have been put on deposit. Loans create deposits, which in some cases require additional reserves, but in some ...
2) getting back to the main point of krugman’s post, he’s using median annual cpi-adjusted income per household and not gdp per capita as his metric. he can show you data that shows that the growth in the economy in the last decade has benefitted a very small number of people; th...
“I am the world crier, & this is my dangerous career… I am the one to call your bluff, & this is my climate.” —Kenneth Patchen (1911-1972)
money by eliminating money as a causally significant part of the model. Consequently, a New Keynesian cannot understand how monetary economics works, which is why even a pro-QE New Keynesian like Paul Krugman can give no better argument for QE in a “liquidity trap” than “It can’t hurt...