A familiar finance fable in UK bonds

Guy Adams in the Daily Mail has an intriguing story of what's going on in UK bond markets.  It's intriguing because it's so utt...

Supply and inflation

  Mark Perry recently updated a fabulous chart:  Not all inflation is the same.  Some interpretations, from Mark. Tradeable (inter...

WSJ stability oped -- full text

Now that 30 days have passed, I can post the full text of "Nobody Knows How Interest Rates Affect Inflation" in the Wall Street Jo...

Brexit might not have been such a bad idea after all -- EU insanity

I was for Fixit, not Brexit. The EU is a great idea. They put together articles of confederation, empowering an out of control bureaucracy. ...

Gramm, Early and the Unfixable Problem

Phil Gramm and John Early have a new WSJ oped, based on their smashing new book . Both are based on an astounding fact: The numbers used by...

Fisherian Intuition

Interest rate neutrality is easy to state in equations but hard to digest intuitively.  The equation says that interest rate = real rate pl...

Email feed restored

A while ago, Google turned off the ability to receive the Grumpy Economist, and all the other blogger blogs, by email. I have now figured ou...

Energy Agony

Two era-defining articles popped up in today's Wall Street Journal.  In " the coming global crisis of climate policy, " Josep...

Expectations and the Neutrality of Interest Rates

Expectations and the Neutrality of Interest Rates  is a new paper. It's an essay, really, expanding on a lunch talk I was privileged to ...

Apartment inflation

  This beautiful graph comes from calculatedriskblog.com . (Courtesy Andy Atkeson who used it in a nice discussion of a great pap...