The Best Fed Governor
The Best Fed Governor? Richard Fisher of the Dallas Fed by a long shot. Fisher has a long essay at the Dallas Fed’s website about the current economic difficulties. Fisher’s sense of history and his experience in real markets (unlike Bernanke) is what sets him apart from the rest of the Fed Governors. Click on .. read more
Gas Tax
Bryan Caplan, an associate professor of economics at George Mason University, has a different take on the gas tax holiday. While I rarely oppose a tax cut, I don’t see the logic of a gas tax holiday. Cutting the price of gas would seem counterproductive to conservation efforts unless the laws of supply and demand .. read more
Farm Bill Disgust
Ronald Bailey, of Reason, takes a look at the farm bill: First, what do the farmers get? Answer: A lot. Last year, net farm income reached a record level of nearly $89 billion due to high crop prices. Farm household income averaged $84,000 in 2007, according to the Environmental Working Group (the 2006 average for .. read more
Numbers Racket
Harper’s Magazine has an article this month from Kevin Phillips about government manipulation of economic statistics. I have commented several times about the distortions of the inflation statistics but Phillips takes a look at other manipulations. The bottom line is that the government is manipulating the public’s perception of the economy: The real numbers, to .. read more
