trade war

Zachary D. Carter’s Hatchet Job on Milton Friedman

The new consensus on Friedman’s work among economists has essentially reversed Summers’s verdict from 2006. “Almost nothing remains of his intellectual legacy,” according to Columbia University economist Jeffrey Sachs. “It has proven to be a disastrous misdirection for the world’s economies.” This is from Zachary […]

Knowledge, Reality, and Value Book Club, Part 3

The Knowledge, Reality, and ValueBook Club continues. Today, we go over Part 3: Metaphysics. Huemer’s in blockquotes, I’m not. Once again, I’m focusing on my disagreements to keep the discussion lively. 1. The Argument from Design. Back in the 19th century, I guess a lot […]

EURUSD Impulse Structure Hints At Rising Prices

The current formation of the EURUSD currency pair suggests the development of a global bullish impulse. This consists of intermediate sub-waves (1)-(2)-(3)-(4)-(5). The bearish correction wave (4) seems to have just been completed, as it has taken the form of a double zigzag W-X-Y. Then […]

Marginal Costs Should Include All Relevant Margins

Last week, I took my remote key to my 2015 Toyota Camry to the Toyota dealership. I wanted a new battery. I’d done it before. They had installed it for me (I’m not good with such things) and the overall charge with tax was about […]

Political Harassment From Your Suppliers

One reason why nominally private corporations become politicized must be to please the most insistent mobs as well as “the regulator”—that is, the feared governments that follow or inflame the same mobs. Otherwise, nearly every supplier’s incentive would be to serve all its customers equally […]

Anja Shortland on Lost Art

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What to Expect from Powell’s Congressional Testimony

Fed Chairman Jerome Powell is going to appear in the US Congress. However, it’s not going to be one of the usual bi-annual hearings of the Fed Chairman on Capitol Hill. Rather, he will testify in front of the House Select Subcommittee on the coronavirus […]

Intraday Market Analysis – USD Consolidates Gains

USDJPY tests first support The Japanese yen remains under pressure as the BoJ extends the easing program. The US dollar has met strong resistance at last April’s high at 110.80. The price action then found bids near 110.20, a former resistance turned into a support. […]

Two Hopeful Signs

There are currently more than 1,400 direct primary care practices operating in 49 states. Among them are doctors Lee Gross and William Crouch at Epiphany Health Direct Primary Care in North Port, Florida. They charge just $75 a month for an adult, $30 per month […]

Inflation is a nominal phenomenon

In my previous post, I discussed how Milton Friedman was right about 4 key issues during the 1960s and 1970s. He argued that interest rates are not a good indicator of the stance of monetary policy. He argued that the long run Phillips Curve was […]