Does Obama Have A Platinum Coin Up His Sleeve?

Forget gold. Buy platinum. The platinum coin idea is on a roll—I’ve heard it has climbed into the top five of Twitter Trending (whatever that is). It was the frontpage of HuffPost: http://www.huffingtonpost.com/2013/01/03/debt-ceiling-coin_n_2404653.html; Paul Krugman wrote about it http://krugman.blogs.nytimes.com/2013/01/02/debt-in-a-time-of-zero/?smid=tw-NytimesKrugman&seid=auto ; Josh Barro picked it up http://www.bloomberg.com/news/2013-01-03/why-we-must-go-off-the-platinum-coin-cliff.html; and Joe Weisenthal featured it: http://www.businessinsider.com/3-huge-myths-about-the-plan-to-save-the-economy-with-a-trillion-dollar-platinum-coin-2013-1. But the best […]

Fiscal Cliff Notes: Interpreting the Deadline News

Here is an all-time first:  Market rallies on news that Congress will be in session! That was today’s story.  The market gyrations lacked a grounding in reality.  Joe Weisenthal charts the day, with my comments to follow. Here are a number of rhetorical questions: After weeks of public posturing on both sides, would we really expect […]

The Only Way Left to Beat Republican Fanatics: Call Their Bluff and Go Over the Cliff

President Obama is cutting his Christmas holiday short, returning to Washington for a last attempt at avoiding the fiscal cliff. But he’s running headlong into the Republican strategy of fanaticism. It’s a long-established principle of game theory (see Thomas Schelling’s classic 1956 essay in the American Economic Review) that a fanatic who restricts his freedom to […]

China Neocons Are Back: The U.S. Election

As the national conventions loom ahead, Americans prepare to choose the next president on the basis of economic issues. But it is the return of the neoconservatives that will overshadow the discourse on foreign policy – and China. When President Barack Obama arrived in the White House, nine of ten Americans disapproved the direction of […]