Monthly data continues to look good for a fast jobs recovery. But weekly unemployment claims began to move sideways in late June, and total continuing unemployment still numbers more than 17 million.
It has long been said that the financial and economic education in the public school system is far from perfect.
Fed will now create money and lend it directly to “large employers” in America.
With the venerable Dr. Thomas Sowell turning ninety this week, a question arises in the fintwit (financial Twitter) world: Who is the greatest living economist?
Some state governors are already reversing themselves on "reopening" their economies and issuing new edicts on which businesses will be forced to close. Don't expect a "V-shaped recovery" if this keeps up.
June 30 is Frederic Bastiat’s birthday.
It will be very interesting if the police—who did nothing to disperse protests that were obviously in violation of bans on mass gatherings—turn around and arrest business owners and other "violators" of a second round of stay-at-home orders.
For most fields of study, the goal is to progress ideas and seek truth. This doesn’t seem to be the case in economics.
In America, the person who declared a state of emergency (and can renew the emergency endlessly) is the same person who then uses the emergency to rule by decree. F.A. Hayek once pointed out how absurd such a system is.
It's easy to dismiss MMT out of hand, but the impulse to create something from nothing resides deep in the human psyche.
