Tag: federal government

Macroeconomic Booms and Busts: Deja Vu Once Again »

Consider the following commentary on the economic situation: Foolhardy procedures which are divorced from economic realities, or whose economic implications are not understood by their promoters, do not perforce become sanctified and wise merely by designating them as “action”; tilting at windmills does not draw water. [W]hen a recovery program, which, while it may...
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Bush’s FEMA Was No Gem Either »

Open Letter to The Wall Street Journal June 23, 2010 Dear Editor: Paul Rubin argues that President Obama is getting a free pass in the media in light of the environmental disaster caused by the BP oil spill. The press, on the other hand, harshly chastised President Bush, for what Rubin thinks was a...
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Our Present Situation: Eight Haiku »

Cherry blossoms in Washington bathe frightful deeds in springtime beauty. – Firms too big to fail savor scent of roses from Treasury’s garden. – No systemic risk too dark a cloud for Congress to make darker still. – Government jobs cause illusion of revival – mirage in desert. – Big banks take their ease...
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Higgs Is Just a Pessimist »

“Higgs is just a pessimist”—how often I’ve come across expressions of that sentiment during the past twenty-five years! In certain circles, I have become the butt of jokes – some good-natured, some not – by virtue of my alleged pessimism. Okay, maybe I am somewhat pessimistic. My wife, who is confident that she knows more about...
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