Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Keynesian

Latest Survey: Small Business will lay off Workers if the Minimum Wage is Raised

Bob Funk, the entrepreneur who founded and now operates Express Employment Professionals (claimed to be the largest privately owned employment service in the country), holds that the best way to determine the impact of a proposed law is to ask those who would be directly affected. It reduces confusion, avoids extended discussions among economists who have never held a real job in their working lives, and eliminates spending on empirical studies designed with the desired outcome in mind. Said Funk:

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Standard & Poor’s Downgrades Puerto Rican debt to junk status

Now that credit rating agency Standard & Poor’s has ended the suspense by announcing that it is cutting Puerto Rico’s $70 billion worth of general obligation bonds to junk status, questions about the island’s economic future abound. Will Fitch and Moody’s follow suit

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Controversial Harvard Professors predict high inflation and defaults for the US

The two Harvard professors who made themselves famous, and then infamous, are at it again, now predicting that America will soon be forced to

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1.3 million Lose Federal Unemployment Benefits, Another 2 million to Follow

Because the budget deal signed into law last week didn’t extend federal unemployment benefits, some 1.3 million people won’t be getting their $1,166 monthly checks, starting in January. By June another 1.9 million will be cut off.

Keynesians are sputtering nonsense about the need to extend benefits. President Obama called it an

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The Bitcoin and Paris Hilton

This article first appeared in The McAlvany Intelligence Advisor on Wednesday, November 27th, 2013: 


In a dismissive article in The New York Times on Monday, the author quoted a Bitcoin skeptic who predicted: “In a matter of months you won’t be hearing about it. It will go the same way of Paris Hilton.” He failed to follow the old rule: keep your words sweet and tender because someday

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Summers is out, Yellen is in, the Fed rolls on

Just when it appeared that Larry Summers had the nomination for the next Fed chair all wrapped up, Summers called the White House on Sunday and told his good friend, President Obama, that he was withdrawing his name from consideration. He then sent a formal withdrawal letter to the president:

I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation’s ongoing economic recovery.

The president dutifully responded with the appropriate accolades:

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CNBC says Larry Summers to replace Ben Bernanke at the Fed

Citing an unnamed source from “Team Obama”, CNBC announced that Larry Summers will be named head of the Federal Reserve by President Obama to replace outgoing chairman Ben Bernanke whose term expires on December 31st.

Despite much media conversation about other potential candidates for the position, chief among them Fed Vice Chairman Janet Yellen, Summers always had the inside track. Summers served as

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Central Banks’ bubble is bursting, sending markets down worldwide

When the Japanese stock market lost more than 6 percent of its value on Wednesday in a massive selloff, pundits jumped on the move to try to explain what happened, and what it all means. Evan Lucas, a market strategist at IG Markets, wrote:

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Could a Professional Wrestler be the next Senator from Tennessee?

This article first appeared at McAlvany Intelligence Advisor:


In gearing up for the 2014 Senate election in Tennessee, the Tennessee Alliance Tea Party & Liberty Groups announced in its newsletter last week that current Senator Lamar Alexander was ripe for extinction:

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Who is Jason Furman?

This was initially posted at McAlvany Intelligence Advisor:


With Monday’s announcement that Jason Furman will be taking over from Alan Krueger as chairman of President Obama’s Council of Economic Advisors, some have asked: who is he?

The short answer is that he is a

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Slowing Economy Confirmed

The report from Automatic Data Processing (ADP) on Wednesday morning surprised economists once again by coming in substantially below their expectations. The 135,000 new private sector jobs created in May were way below the

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Austerity is impending the economy, say the Keynesians

Two writers at The New York Times have embraced the fallacy that cutting government spending is keeping the economy from growing. It is Keynesian claptrap.

Let’s let them rant a little before responding:

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The Modern German Economic Model is a Myth – revised and updated

Dessau, a small and steadily shrinking town in the German state of Saxony-Anhalt in what used to be East Germany, is doing the best it can. Ten years after the fall of the Berlin Wall the anticipated “miracle” enjoyed by West Germany following World War II failed to materialize for Dessau and so it is in the process of demolishing some 10,000 empty homes and

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The Modern German Economic Model is a Myth

Dessau, a small and steadily shrinking town in the German state of Saxony-Anhalt in what used to be East Germany, is doing the best it can. Ten years after the fall of the Berlin Wall the anticipated “miracle” enjoyed by West Germany following World War II failed to materialize for Dessau and so it is in the process of

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Britain enters third recession in four years

You would think that politicians and central bankers would learn from their mistakes, wouldn’t you? They would learn that if something doesn’t work then try something else (or try doing nothing, instead!). But no, despite warnings from Moody’s (I wrote about their downgrade of Great Britain on Monday here), which is simply a rear-view mirror of what’s already happened and their very late recognition of their faltering economy, they continue to

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Those sequester cuts are really going to hurt. Not.

Leave it to my favorite establishment mouthpiece to put things into perspective: according to the Washington Post those sequester cuts starting March 1st are really going to hurt, pushing the economy into another recession (another?) and costing

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Another discussion about minimum wage laws?

Obama’s demand that the minimum wage be raised to $9 an hour triggered an avalanche of commentary on the issue, including this from the Associated Press:

President Barack Obama says raising the minimum wage to $9 an hour and tying future increases to inflation will

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If the Fed has created so much new money, where is the inflation?

Frank Shostak, a scholar at the Mises Institute, asks the same question: where is the price inflation that is supposed to follow the creation of new money? Shostak asks it far more eloquently than I:

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A Tea Party House member doesn’t think there will be a fiscal cliff deal

Tim Huelskamp is a House member (R-Ky.) and a member of the Tea Party Caucus who was canned by Speaker John Boehner because he didn’t “toe” the Republican line, a move that Huelskamp called “petty” and “vindictive.” I called it “instructive” about Boehner.

He has strong opinions about government spending, and wasn’t afraid to voice them. Back in February of this year,

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Latest Move by the Federal Reserve Raises Important Questions

With Federal Reserve Chairman Ben Bernanke’s latest announcement of a new bond-buying program linked to unemployment data instead of the calendar, commentators called it an “historic move,” “another innovation,” and a “surprise” that amounts to a “complete reversal” from the Fed’s days of using Fedspeak to disguise and obfuscate its moves.

After reviewing how the economy looks from the Fed’s point of view, Bernanke announced that his Federal Open Market Committee (FOMC) will

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.

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