Do inflation expectations even matter anymore?

We got a big CPI print today, 5.0%. That’s above expectations. And, we saw a mild uptick in US Treasury bond yields on the back of the number. But I am wondering whether it really matters. Let me explain.

Lions and Tigers and Technology: Why new tech (like vaccines) scare us

Since the earliest times, technologies have been a two-edged sword – literally. They cut both ways. We all remember in our Jungian collective unconscious the scene where the exceedingly useful wheel – now on the nasty armed chariot – scares the fleeing peasant. Boy, the inventor of that technology sure never intended for that to unfold.

The macro crystal ball: macro framing and historical antecedents

Listen, I want to start this month with a thought piece rather than a data piece. And this is going to be a pretty long post. But I think it’s important because I plan to build on it.

How transitory is transitory, housing edition?

In yesterday’s post, the question was this: how bad do inflationary impulses have to get – even if they’re just transitory – to matter? The Fed is telling you they have to get pretty bad for it to react. And with US Treasury bond yields sat at 1.58%, the Treasury market is telling you the same thing.

Anwar Shaikh speaking at the Oxford Economics Society

Anwar Shaikh gives a talk at the Oxford Economics Society on his argument for a general theoretical and empirical alternative to both neoclassical and post-Keynesian economics.

A Green Recovery from the Pandemic Meltdown

Safe and Snug in My Remote Office, Or Am I?

March 2020 was scary for most people around the world. A new and dangerous virus was afoot and uncertainty was the order of the day. As it turned out, for many of us we made a rapid pivot to working remotely and to social distancing.

Tax and spend, crony capitalism and the peasant revolt

Let’s veer into the political economy today, a sort of third rail of market and economic commentary. The reason I want to discuss it is the tax grab contemplated by the Biden Administration in the US.