As I wrote the other day, I have always been lukewarm to the idea of a budget commission because I don’t think we are ready, politically or economically, for serious deficit reduction. I also have problems with the...
Worries over the big budget deficit in Greece have steadily escalated in recent weeks, causing the yield spread between Greek and German bonds to exceed 300 basis points (3 percentage points). But how serious is this crisis...
Many commentators are upbeat about prospects for the coming year. Among other reasons, they believe that severe recessions are invariably followed by sharp rebounds, even though history suggests financial crisis-inspired...
December 29, 2009 marks the bicentennial of the birth of one of Britain’s greatest statesmen and indeed, of one of the most colorful figures in parliamentary history anywhere—William Ewert Gladstone. No individual in history...
The Keynesian Kool-Aid drinkers keep insisting that big deficits and rapidly growing piles of public debt don’t really matter as long as there is „slack” in the economy. But they live in a fantasy world...
OK, let’s go through this one more time. Despite what we keep hearing from the politicians and moneymen, things are not getting better. Yes, we have seen the economic equivalent of a dead cat bounce — how...