Newspaper day. In the Guardian I have a piecethat looks at how we should regard any tax cuts that Boris Johnson may announce as part of the forthcoming election. And make no mistake tax cuts are coming (we already know they intend to cut the tax on petrol), because the spending review signalled that the governments rule will change, as Chris Giles discussesin a good article in today’s FT in which I among other economists are quoted. . In the Guardian piece I argue that tax cuts are a bad idea because in the context of us leaving the EU they will almost certainly produce unsustainable increases in the deficit without much of a compensation in higher output. As I say in the Giles FT article, policies that … [Read More...]
Schmuck!
SOURCE: Funny Economist – Randall Parker’s Completely Serious Macroeconomics Blog – Read entire story here.
Squawk: EURGBP looking to press past 0.9100 by Stephen Pope EUR/GBP…
EURGBP looking to press past 0.9100 by Stephen Pope EUR/GBP is up for the third consecutive day The pair is resuming its main bull trend Market is trading above its key moving averages The target to… [Read More...]
Open thread October 18, 2019
Schmuck too!
Who would say something like that except for some nasty old gink? [Read More...]
This is the most dangerous UK government we have seen in our lifetimes
It used to be the case that a Prime Minister that had deliberately shut down parliament against its will might have felt sufficiently ashamed that they would have resigned when the courts found against them. It certainly would have been true for most of my lifetime that they would have shown some contrition when the verdict became clear. If you ask me to prove those claims of course I cannot, because no previous PM would have even thought it permissible to shut down parliament against its will. But since WWII many senior politicians have resigned when they made a mistake of this magnitude. But Johnson is a Prime Minister like none before him, as Steve Richards showswith authority. If instead they had appeared unapologetic and kept insisting … [Read More...]
Squawk: EUR/USD – Speculators Increasingly Dollar Bullish by Stephen Pope Dollar…
EUR/USD – Speculators Increasingly Dollar Bullish by Stephen Pope Dollar bulls are in full cry The strength of the Dollar will continue even after mixed jobs data There was no Euro gain on Friday… [Read More...]
Unsubstantiated Drug Price Increases
The ICER (Institute for Clinical and Economic Review) Is an independent and non-partisan research organization. Its purpose is to evaluate the clinical and economic value of prescription drugs, medical tests, and health care and health care delivery innovations. ICER conducts rigorous analyses of all clinical data with key stakeholders to include patients, doctors, life science […] [Read More...]
Is this good for Johnson, whether he wins or loses?
I have no idea whether Johnson will get his deal through on Saturday. As the broadcast media is obsessed by headcounts I will leave it to them. What I will say is that the idea that MPs will be taking a decision that has a profound influence on everyone in this country (in which will do such serious economic and political damage to the UK) on the basis of only two days of scrutiny with no assessment of its impact is just absurd, and typifies everything that is wrong about Brexit. Who knows why Johnson changed strategy during or before his meeting with Varadkar. Maybe it was fears about securityin Northern Ireland after No Deal created a border. Maybe he always had the idea in mind of … [Read More...]
Fun with Bernie ….if there is such a thing with a Marxist mental midget…
What is scary is that he actually believes the Marxist filth that comes out of his pie hole. As Brett Stephens has said, the young people who support him are too young to remember what socialism did. The older folks who support him are too stupid to understand what it does.”Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” Winston ChurchillCount me out. [Read More...]
Squawk: U.S. Dollar Index Waits For Fed; Should Push Higher Dollar…
U.S. Dollar Index Waits For Fed; Should Push Higher Dollar bulls are in full cry they like the positive economic tone The strength of the Dollar will continue even if the Fed are on hold There is… [Read More...]
An Increasingly Divergent US Economy
An Increasingly Divergent US Economy Lots of people have been huffing and puffing about whether or not the US economy will go into a recession in the near future, with Menzie Chinn and Jim Hamilton at Econbrowser saying it is now about 50-50 whether or not the US economy will go into recession by the […] [Read More...]
This is the problem here in NC…a Tranny in the bathroom.
SOURCE: Funny Economist – Randall Parker’s Completely Serious Macroeconomics Blog – Read entire story here.
Squawk: Jackson Hole speech by Fed’s Powell. The initial focus seems…
Jackson Hole speech by Fed’s Powell. The initial focus seems to be on Powell’s comment that there no signs of inflation pickup accelerating now that it has risen above 2% and there are no signs of… [Read More...]
Positive housing, initial claims, and Philly Fed outweigh negative industrial production
Positive housing, initial claims, and Philly Fed outweigh negative industrial production So, after a nearly empty week until now, there were four economic reports this morning. Three of them were good. First, although overall housing starts and permits declined, single family permits, the most forward looking and least volatile of the metrics, were only 3000 […] [Read More...]
How the lessons from austerity have not been learned
The UK and the Eurozone are both vulnerable to the next recession, but both politicians and central bankers think each other should deal with it. I don’t want to talk about the likelihood of a recession in the UK, US or Eurozone. Forecasting is a (necessary) mug’s game, where there are just too many variables to make anything like an accurate prediction. It is worth outlining the risk factors, and Grace Blakeley does an excellent job here. Instead my concern is the vulnerability in both the UK and the Eurozone to the impact of a recession if it happens. This vulnerability was clearly illustrated by the mistakes made after the Global Financial Crisis, yet in many ways the lessons of that failure have not been learnt. Most … [Read More...]
Squawk: Equities stay firm into US Employment report A positive “risk…
Equities stay firm into US Employment report A positive “risk on” tone across global equity markets this week has been reinforced by US equity averages again moving to new 2019 highs at yesterday’s… [Read More...]
This is worth listening to, all of it. Unless of course you are a member of the church of climate change.
SOURCE: Funny Economist – Randall Parker’s Completely Serious Macroeconomics Blog – Read entire story here.
Medicare for All
Medicare for All The abstract for “Does Medicare Coverage Improve Cancer Detection and Mortality Outcomes?” by Rebecca Mary Myerson, Reginald Tucker-Seeley, Dana Goldman and Darius N. Lakdawalla: Medicare is the largest government insurance program in the United States, providing coverage for over 60 million people in 2018. This paper analyzes the effects of Medicare insurance on health for a group […] [Read More...]
Wow!
SOURCE: Funny Economist – Randall Parker’s Completely Serious Macroeconomics Blog – Read entire story here.
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