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Good for you Jem! I'm with you on that one!

You should come out from under the rock you've been living under. These concerns are always an issue. But let me make it clear that deficits are much less of an issue, and inflation slightly less of an issue, with me personally, and with most economists, then they are with the general...

Don't know anything about the Morgan cuts just four years after income tax became legal. That was a different time. In modern times every major cut has been followed by nominal, revenue growth. Why would it not? Revenue growth comes from dumping large amounts of money into the private sector...

Indeed!

On average the economy has done significantly better under democratic administrations. Huge deficit spending, however, will definitely goose the economy. Initially in real terms, and with time as the deficit spending circulates in the economy the gains shift from real to nominal. Almost...

I have the Booth book on order from Amazon..

I don't know how many times I have to point this out to you before it sinks in, but this will be my last attempt. The Fed did not weaken restrictions until Congress acted. Citi, i believe it was, you can look it up, had bought Travelers which was illegal under then existing regulations. The...

Mary Virginia McKenzie's "Milk Punch": (makes 1 quart) 1/3 cup brandy 2/3 cup bourbon 1 teas. freshly grated nutmeg 1 Tbs. vanilla 2 cups half and half simple syrup to make one quart, ~ 1 cup (simple syrup is one part sugar dissolved in 2 parts water) Chill all ingredients before mixing. Can...

"The Congress has freed financial institutions to follow their markets and has provided the regulators with the ability to let them do so, while still requiring prudential supervision focused primarily on ensuring the safety and soundness of insured depository institutions." You'll note the...

You've personified government. Bizarre. (I learned the art of clever rejoinder by studying your buddy, "The Donald.")

Note the date of this speech!

Jem may have a good point. Speaking style may not be a reliable indicator of intellect. Trump's style of communication may have been an acquired style effective when dealing with rich, stupid people, bankers, or contractors he intended to fleece. On the other hand Trump may be totally devoid...

If you are referring to the Fed's role in the Financial crisis, then I will disagree. Even here the Horse was Congress, i.e., it was Congress that passed the Gramm- Leach-Bliley "Financial Services Modernization Act." Yes the fed under a different chair could have nipped the nascent crisis...

This is fundamental to classical Libertarianism. The failure of today's U.S. "libertarian" splinter groups, who are in realty what Chomsky calls "anarchocapitalists," is the failure to recognize that laws are essential to preservation and enlargement of freedom. The debate should not be about...

My remarks, I had hoped, were more to the matter of who is the cart and who is the horse. The Congress is clearly the horse; not the Treasury and not the Fed.

I think it is a bit complicated. The Fed does "print". But the decision to do so is largely dictated by combined fiscal and tax policy which is the bailiwick of Congress. The Fed has to respond to economic conditions, sometimes of their own making but far more often Congress'. And...

I think I am already sufficiently versed on the former topic, but very interested in having a look at the Booth book. Thank's for the recommendation!

What's curious to me is that our good Dr. Greenspan is (was?) a Rand Devotee. The defects in her "philosophy" seem so painfully obvious that I can't imagine any well-read person lining up with her. Does that mean Alan was not well-read? Perhaps he had no time, what with all that Sax playing...

I am heartened that you've read Friedrich Heyak's "The Road to Serfdom"; now you owe it to yourself to read Robert Skidelsky's "The Road From Serfdom" as well. And here for you is a beautifully written and finely argued essay by Alan Binder (Economic Advisory Counsel Head, and Fed Governor)...

I'm a classical libertarian. Chances are you have what may be termed anarcho-capitalism associated with the current use of the term "libertarian" in the U.S. I am more, I guess you could say, a Bill Weld Libertarian than a Gary Johnson Libertarian. Perhaps if you did some reading you could...