Category Archives: Macro-economics

Keynesian thought is utopian

Posted on July 29, 2018 by William Holland

Credible economists like Hayek, even von Mises and Milton Friedman knew the limits of positivism in economic models.  It isn’t that they eschewed them outright, they knew the margins of their discipline, spending their time more on exposition in defense … Continue reading →

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Didactic Dow Jones & the Realism of Leading

Posted on April 26, 2018 by William Holland

I’ve grown frustrated by the WSJ editorial boards tone deaf posture regarding international trade.  The editorial board continues to sound didactic and worse yet, academic in its understanding on US trade. It reminds me of why Sam Rayburn (President Johnson’s … Continue reading →

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Taming Bond Market Vigilantes

Posted on April 15, 2018 by William Holland

The U.S. Federal Reserve has tamed bond vigilantes.  Because prices move inversely to bond yields, historically, active investors reacted to adverse monetary or fiscal policies by dumping bonds that consequently raise yields.  Because the FED was the only game in … Continue reading →

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Fragile by Design: Bubbles, Mania’s & Credit Cycles

Posted on January 27, 2018 by William Holland

Ten years ago, the U.S. entered a Great Depression.  A decade on, the depression still occupies a strange place in the American psyche. America suffered a cumulative loss of output equaling $4trillion.  By any measure, working stiff’s haven’t recovered.  Many … Continue reading →

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Weakened Case For Higher Interest Rates: the Flattening Yield Curve

Posted on December 24, 2017 by William Holland

The canard of secular stagnation was laughable, especially given the credentialed gnomes belief in demand sided macro thought.  No measure is ever given to the antecedents of our Constitutional Republic, its constitutive bases in civil society, in spheres of autonomy … Continue reading →

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Why Taxes Matter: Growth vs. Redistribution

Posted on December 22, 2017 by William Holland

My father often said:  sometimes its who’s talking not what’s said.  Leadership matters, that’s why its important to find the right person to listen to about taxation, because its a dangerous form of social engineering.  An overt ideological pretext isn’t … Continue reading →

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The Secular Stag is Gone, Lawrence Summers Call Your Office

Posted on March 15, 2017 by William Holland

This blog has tackled the cynicism animating most financial economists desire or need to evade intellectual, even moral responsibility for the collapse of confidence the American Republic has for the Federal Reserve and Congress to extract the Republic from the … Continue reading →

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Hardly a Balkanized Federal Reserve

Posted on February 2, 2015 by William Holland

Let’s get power relations straight.  The Federal Reserve is a powerful, even a transnational power.  It is arguably the single most powerful institution on the planet.  It TOO can be defeated, weakened, and brought down.  The impact of weak purchasing … Continue reading →

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