The repatriation holiday for corporate profits is favored by neither the elasticities nor the macroeconomics; furthermore fiscal gimmicks are in general not a good idea. Greece got worse and many Greeks are buying up gold. “Enter democracy, stage right” is the next act in the play. Paul Krugman tried to smack down John Goodman’s smack down, but didn’t quite succeed. Krugman’s argument may well show “how the market does health care cost control” is unethical or unfair, but it does not show that the market fails at controlling costs, once we adjust for the relevant demographic variables. And here is Austin Frakt.) American health care cost inflation is best thought of as arising from the interaction of two dysfunctional systems, private and public, which are not so easily separable. This debate failed, largely because of the rancor on both sides. It is speculated that Andrew Sullivan’s new Daily Beast readers are less interested in clicking through to serious links. IMF researchers felt pressure to align their conclusions with official IMF views. The Mavericks played superb team defense without having many good individual defenders; Rick Carlisle apparently has read Keynes on paradoxes of aggregation. The influence of the Tea Party seems on the decline. I somehow fear that “music sent to the cloud” will screw me. It will be necessary to fix (partial) middle class eligibility for Medicaid. Ezra Klein’s budget deal reporting has put the competition to shame. I decided I still believe that Nozick is a theorist of consilience, with different parts of the argument spread across various books and articles. The Fed looks more and more like an unwrapped saltine cracker; Scott Sumner’s reputation will grow. For one day in Turkey I missed no longer having a cat. Magnus Carlsen recaptured #1 in the world chess rankings. America failed to solve its long-run fiscal outlook.
I am still traveling.