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Search Results for ""regime uncertainty""

U.S. Employment Woes Continue Despite Small Recent Improvements



After the headline rate of unemployment (U-3) reached 8.5 percent in December 2011 ( the most recent month reported), some commentators began to talk as if the employment situation is now improving rapidly. Some have gone on to suggest that those of us who have emphasized the role of regime uncertainty in retarding the...
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Uncertainty and Unemployment



While last week’s news of the unemployment rate falling to its lowest in more than two years was very welcome, as the Wall Street Journal pointed out: ...the main reason for the big drop in that number and the fall in the jobless rate wasn’t more people working, but fewer people looking for work.......
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The Government Is the Problem



Ronald Reagan said “Government is not the solution to our problems, government is the problem.” Nowhere does this appear more true than with the state of the global economy today. My fellow blogger Robert Higgs has repeatedly emphasized the government creation of regime uncertainty that keeps unemployment high and investment low, because businesses are...
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U.S. Economic Recovery Remains Anemic, at Best



How goes the recovery? Not well, it seems. Indeed, according to the most recent official estimates, it is anemic, at best. As the chart shows, real GDP has recovered its losses during the recent contraction and is now running at about the same rate as it was at its pre-recession peak in late 2007. So, the rate at which the...
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One More Time: Consumption Spending HAS Already Recovered



Commentators and pundits, some of whom ought to know better, continue to harp on the idea that the recession persists because consumers are not spending. Every Keynesian seems to believe that because consumers are in a dreadful funk, only government stimulus spending can rescue the moribund economy, given (to them, at least) that investors...
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Paul Krugman: “Space Aliens Could Save U.S. Economy”



As Dave Barry used to say, I’m not making this up. Deeply mired in the fatally flawed myth that World War II ended the Great Depression, Nobel Laureate Paul Krugman yesterday proposed that an invasion by space aliens would well provide the economic stimulus this country needs: As Dr. Robert Higgs has more than...
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The Confidence Fairy versus the Animal Spirits—Not Really a Fair Fight



The humor columnist for the New York Times, Paul Krugman, has recently taken to defending his vulgar Keynesianism against its critics by accusing them of making arguments that rely on the existence of a “confidence fairy.” By this mockery, Krugman seeks to dismiss the critics as unscientific blockheads, in contrast to his own supreme status...
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FDR Redux: A Cartoon Guide to Cutting the National Debt by 40% with the Stroke of a Pen! (Part II)



(Continued from previous post). During the 1932 campaign, Franklin Roosevelt had a reputation as a mealy-mouth politician who made many promises but held his real plans close to his chest. The following cartoons capture that well: Of course, we now know that with his First Inaugural address (listen here), FDR took on the role...
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Out of the Mouths of Bureaucrats



Any day now I’m going to be accused of being a one-note blogger, but the TSA is just providing too much material to pass up. (Just for the record, I’m also known to post on Regime Uncertainty, education, the Census, and other issues.) Case in point: the TSA’s own blog, where “Blogger Bob”—presumably the...
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The Continuing Puzzle of the Hyperinflation that Hasn’t Occurred



Since late December 2008, the bank prime lending rate — the interest rate banks charge their best corporate customers — has remained steady at 3.25 percent. Meanwhile, during the same period, the excess reserves that commercial banks hold at the Fed have increased from $2 billion in August 2008 to $1,513 billion in May 2011. Ordinarily,...
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