Former Fed Chairman Ben Bernanke welcomed himself to the online economics community by initiating a personal blog at the Brookings Institute where he has landed as a Distinguished Fellow in Residence. This initial posting has created quite a stir, as you might expect, which has to be among the primary reasons for this venture. I suspect and detect, however, that [...]
Taking a look back at economic projections from orthodox models (and the theories they incorporate and encompass) is more than just a review of past econometric failures. That is the most obvious component as the ability of mainstream models to forecast actual economic conditions is inarguably flawed beyond repair. That calls into question, certainly, current outlooks based upon the same [...]
Janet Yellen has essentially confirmed QE’s demise; good riddance. Unfortunately, I don’t think that is the final end of QE in America, just as it hasn’t been the end time after time in Japan (and perhaps now Europe treading down the same ill-received road). What’s interesting is really watching these central bankers talk themselves in circles about why that is. [...]
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