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Interest rates and the deficit
What can you do if Australia has the most incompetent central bank in the world? That they have raised interest rates in the midst of an election is the second time it has thrown in its lot with Labor, as it did in 2007. Of course, the problem really is that it has waited this…
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Just because it never ever worked before is no reason not to try it again
Both of these are about public spending as the road to economic growth, as in there is no such thing. GREAT MOMENTS IN CENTRAL PLANNING: Watch: Insane footage shows China blowing up 15 skyscrapers that had sat vacant for nearly a decade. Flashback: 34 Unforgettable Photos Of China’s Massive, Uninhabited Ghost Cities. Plus this. Amity Shlaes on Biden…
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“Transitory” inflation is on its way
I don’t know what I would do without Paul Krugman and his unerring ability to get things wrong, but bless him, there he is again. Krugman doesn’t get quite understand any of this, but he does come close. The issue between the classics and the Keynesians over why recessions occur was over whether they were…