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Normal Confusion

Like all fevers that gripping Washington will break. I doubt any time soon though. Until then we will lurch from crisis to crisis as the two sides battle for a longer term period of supremacy. Meanwhile for those of you interested in the real world  we seem to have hit a temporary peak. Consumer confidence […]

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Balancing Act

On last comment on what has been a busy day. People seem to forget the consequences of accounting. Stuff has to balance. Debits and credits. To and fro. Up and down. Action and reaction. To which we can add: private and public. One of the features of our discussion over American public finances is that […]

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Inequality

Or perhaps: Inequality, So What? David Ruccio has pointed to the sudden outbreak of a discussion about inequality amongst some of our leading left of center economists, notably Joe Stiglitz and Paul Krugman. I will not reprise their debate, you can track it down for yourself. My purpose is somewhat different. The distribution of income […]

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