Summary: Doomsters dominate the news, as they terrify us for fun and profit. Here's good news from the IMF about global food production. See it here; you probably won't see it in the news. Let's not become complacent; the IMF warns of the large challenges that lie ahead. “If current trends continue by the year … Continue reading Good news from the IMF about feeding the world’s people
Summary: Today's post looks at an important new report about the IMF, another step by economists towards recognition that we've left the post-WWII order for a new world. Now that's a world of persistent slow growth, in which repeated rounds of fiscal and monetary stimulus (conventional and unconventional) prevents recessions but cannot reignite strong growth. … Continue reading The IMF warns us of economic stagnation & suggests fixes. We should listen.
Summary: A weakness of my posts is that they don't adequately convey the wonders of our time, the extraordinary events, the uncertainty of future outcomes. Today I attempt to show the amazing nature of our new economy, as highlighted in last weeks' speech by Larry Summers. We have entered a new world, for ill or … Continue reading Understanding the new world shown us by Larry Summers
Summary: There are two paths for Europe. The path it is on, leading to a painful future and fundamental change. And the other path, with unknown risks and pain -- but offering the potential for a better future. The path chosen by Europe's leaders reveals much about them. The outcome will reveal much about Europe's peoples. Two … Continue reading Are Europe’s rulers copying the policies of Herbert Hoover in 1929, or the French Monarchy in 1789?
Question for the Day "Would a default on Treasuries accomplish what the Balanced Budget Amendment was supposed to achieve, by forcing the government to spend no more than it takes in? With more collateral damage, of course. . . ." --- Glenn Reynolds (The Instapundit, Law Professor at U of Tennessee), source. Contents The short answer Default … Continue reading Would a default by the US government help America?