Milton’s Own Maple Sugar

More here.


So he is the reason of the season!

Well, we certainly worship the market than any Pilgrim ever worshipped their Lord, right?

The Market giveth and the Market taketh away, blessed be the name of the Market.

Hear America, the Market is God, the Market is One.

And for Ramadan:

There is no god but Market. And Milton is his messenger.

Happy Thanksgiving Thiago!

Here is a critical analysis of Krugman on Brazil, do you have anything to add?

From Krugman's op-ed:

"So what happened? There has been surprisingly little international discussion of the Brazilian experience, even though it was very severe and Brazil is a pretty big economy (G.D.P. at purchasing power parity about 10 times as large as Greece.) Maybe we’re all too distracted by the political crisis in the West — Trump, Brexit, etc. Anyway, I’ve been trying to put together a story of the Brazilian crisis, well aware that I may well be missing important aspects."

Maybe if Krugman would STFU about Trump he would have more time to investigate and comment intelligently on Brazil.

Turning oneself into shill for the Democrats comes at a price.

Former President Mrs. Rousseff's government made many mistakes. It is hard to say if monetary expansion would have helped when Brazilain families were already deeply indebted and the public debt was sky-high. To be fair, her sponsor, former president corrupt leftist Mr. Lula, applied a policy of easy credit and monetary expansion that helped to prevent the worse after the 2008 Great Recession. If the trick would have worked again after the room for manoeuvre got slashed by budgetary concerns is a hard question and somewhat academic right now.

In the worst-case scenario, the money could have been spent in more wise and honest ways (it is not clear why Brazil lent money for Cuba and Venezuela). That could have had some keynesian benefits and, more important, could have helped the fundamentals. We need a somewhat better infrastructure for instance. Anyway, the money was spent, the coffers are empty now, and a law has been passed to freeze government expenses for the next 20 years.

At the heart of Brazil's current economical problems, it is wild de-industrialization promoted by Red China. Since Brazil recognize Beijing's regime in the mid-70's, it has been acting like a cancer. It is ridiculous that Brazil keeps selling soy to Red China while we buy cars and other higher aggregate value products from Beijing's regime. President Captain Bolsoanro has vouched to block key Chinese investments in Brazil ("China can buy fro Brazil, not buy Brazil") and mirror American president Trump's anti-Chinese policies.

I was thinking this would be some kind of attempt to flout the great Maple Syrup Cartel, but apparently that only covers La Belle Provence, not Vermont.

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