Ben Bernanke, the Rodney Dangerfield of Fed Chairmen

by Paul Kasriel, The Econtrarian First it was 2012 presidential candidate Rick Perry, who wanted to deal with Ben Bernanke’s money-printing “Texas style”. Then 2012 presidential candidate Mitt Romney indicated that Ben Bernanke had better have his personal effects packed up and ready to move out of his Fed office by January 21, 2013. And …

Why Not a Quantitative Target for Quantitative Easing?

by Paul Kasriel, The Econtrarian When I should have been practicing my bass guitar in preparation for my band class Thursday evening, I, instead, watched the first few minutes of Federal Reserve Chairman Bernanke’s post-FOMC press conference. A number of press inquiries were related to adding specificity to the FOMC’s criteria for modifying its current …

The Real Economic Implications of Our Senior Entitlements Challenge

by Paul Kasriel, The Econtrarian Economics is art masquerading as science. Demographics is not only science, but destiny. Chart 1 shows the changing demographics of America. It shows the rising trend in the proportion of senior “takers” in America. Back in 1960, those U.S. residents aged 65 or over made up 9.2% of the total …

Sequestration: Side Effects Will Slow Real GDP Growth, Not Reduced Demand

by Paul Kasriel, The Econtrarian In my February 5, 2013 commentary “2013 Economic Outlook – Bright Sunshine for the U.S., Some Cloud Abroad,” I argued that changes in federal fiscal policy have no material impact on total spending on the economy, but rather affect the distribution or composition of a given amount of total spending. …

The 2013 Economic Outlook – Bright Sunshine for the U.S., Periods of Cloud Abroad

by Paul Kasriel, The Econtrarian Author’s Warning: Do not attempt reading the entirety of this commentary without the aid of your stimulant of choice. I apologize for the length of the commentary, but believed it necessary in order to inform new readers of my basic approach to macroeconomics. In future shorter (I promise) commentaries, there …