Historical Archives

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Long Term, Health Spending on State and Local Government Workers Has Outpaced Medicaid Spending by Almost 20 Percent

State and local spending on government workers increased by 444 percent in real, inflation-adjusted terms from 1987 through 2012.

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Philly Fed Unexpectedly Back in Contraction; Weather Blamed Again

The Philadelphia Fed Bloomberg Consensus for the Philly Fed manufacturing index was 9.4. The index came in -6.3.

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The Height of Garbled Pinocchio Speak

The FOMC’s minutes struck me as the height of garbled Pinocchio Theory.

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Law of Bad Ideas

A proposal by French president Francois Hollande got me thinking about "The Law of Bad Ideas".

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A Health Reform Republicans and Democrats Agree On

The most important question in health reform is this: How should the government subsidize private health insurance?

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Hollande Promises Tax Harmonization in Six Years if Foreign Businesses Invest in France Now

French president Francois Hollande is seriously deranged if he expects businesses to take him up on his latest offer to Invest in France Now, See Harmonization in Six Years.

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US Household Debt Climbs by Most Since 2007, Mortgage Debt Leads the Way; Annually Student Debt and Autos Lead the Way

Given stagnant wages and higher taxes, the only way households can increase spending is to go further into debt.

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Fed Lying About QE, Media Not Paying Attention

Since the introduction of QE 3, honest-looking Fed chairman Bernanke told the Wall-Street media circus after each FOMC meeting that the money-printing binge in the coming month would expand the Fed’s balance sheet by $85 billion. A fact cited wor...

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Democracy and Government Spending: Extend and Pretend

Over the past 80 years, governments have been expected to provide more and more social services. That means bigger and bigger bills for the taxpayers

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Forward Guidance

“Guidance” is the new organizing credo of US financial life with Janet Yellen officially installed as the new Wizard of Oz at the Federal Reserve.

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