The Slack Wire

Regular readers of the blog will know that we have been having a contradiction with Brad DeLong and the rest of the  monetarist  mainstream...

From today's FT: US Junk Debt Yield Hits Historic Low The average yield on US junk-rated debt fell below 5 per cent for the first ti...

I don't know if most people realize how much credit card debt fell during and after the Great Recession. It fell by a lot! Credit card ...

Not exactly; you have to read between the lines a little. People are talking about this new thing from the IMF , reviving the 1930s-era ...

So it's halfway through the semester, and I'm looking over the midterms. Good news: Learning has taken place. One of the things yo...

Here's a good one for the right-for-the-wrong-reasons file. David Glasner is one of an increasing number of Fed critics who would like...

Let's start from the top. What is monetarism? As I see it, it's a set of three claims. (1) There is a stable relationship between ...

Today Paul Krugman takes up the question of the post below , are recessions all about (excess demand for) money? The post is in response to...