It seems Mr. Ibbitson was in full campaign mode hoping that the debt hysteria he was busy whipping-up in the Globe and Mail would get him nominated for a Paul Krugman Very Serious Person (VSP) Award. Based on his performance … Continue reading
Category Archives: Gov Debt
Looking for Dr. Goodpain? Check the Reflection in the Mirror Dr. Krugman
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Far be it from me to cast a pox on what has been one of the only few bright lights in the last few years but premises matter. In Krugman’s recent Looking for Mr. Goodpain he presents a reasonable derision … Continue reading
Putting lipstick on the PIIGS: the health of modern macroeconomics
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Ok, so some of the best economists, trained at elite institutions, working for the pinnacle of the of the financial world got it wrong, very wrong. How wrong? Just go ask a Greek citizen. But, of course, we all knew … Continue reading
The real Zombie that won’t die: The Myth of Crowding Out
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Don’t get me wrong I am really encouraged that Mr. Moffatt took it upon himself to echo what we should all know by now: debt is not the story behind the Euro crisis. And as Mike rightly points out the … Continue reading
James Doak calls Bay Street Modern Slave Owners
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UDATE: Doak changed the title of his article from “Visigoths versus Bay Street” to “Why I said taxes on the rich are like ethnic cleansing: Jim Doak” but if you click the link the URL still has the original title. … Continue reading
Is Canada the ultimate MMT playground?
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Unlike other jurisdictions Canada has a sovereign currency and a central bank that is explicitly allowed to buy both federal and provincial debt. It is all right here in Article 18 of the Bank of Canada Act. 18. The Bank may … Continue reading
Paul Krugman, Bob Hall and Valerie Ramey don’t get the Long Run
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Paul Krugman thinks that Bob Hall and Valerie Ramey have clinched the matter with their natural experiment on fiscal stimulus. What none of them seem to understand is that the argument has always been that in the ‘long run’ the … Continue reading
Stimulative austerity bearing fruit in Britain? Not. Nor globally
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George Osborne was quick out of the gates with the austerity as stimulus gambit. Which as everybody from myself to Paul Krugman predicted was going to be a flop. Osborne has been trying to save face by arguing that his … Continue reading
Profit, wage, NDP, and tax revenue growth in Newfoundland and Labrador
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Although I covered it off in my rebuttal to the Minister of Finance Thomas Marshall in the last post I thought maybe a graphic would be a more compelling way to illustrate what has been going on in Newfoundland and … Continue reading
The Right Wing Commentariat is getting Desperate
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Just go read Terence Corcoran’s latest in the National Post. Never mind that the world was plunged into economic crisis by unregulated financial institutions and near fully captured regulators; never mind that by most accounts the financial regulatory reform that … Continue reading