Daily Archives: December 9, 2012

Why is the failed Monti a “technocrat” and the successful Correa a “left-leaning economist”?

By William K. Black
(Cross posted at Benzinga.com)

The New York Times produces profiles of national leaders like Italy’s Mario Monti and Ecuador’s Rafael Correa.  I invite readers to contrast the worshipful treatment accorded Monti with the Correa profile.  The next time someone tells you the NYT is a “leftist” paper you can show them how far right it is on financial issues.

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The Trillion Dollar Coin Is A Conservative Meme

By Joe Firestone

The Trillion Dollar Coin (TDC) is, first, an oversimplified meme, because there’s not one TDC solution, but lots of Platinum Coin Seigniorage (PCS) variations on that idea with differing implications for politics. Some just kick the can down the road, until the next debt ceiling crisis, or set up another trade between the Administration of something relatively valuable for something less valuable. Others would really change the political game. Continue reading

What Does The Trillion Dollar Coin Do?

By Joe Firestone

The Trillion Dollar Coin proposal for solving the debt ceiling problem is again experiencing a blogosphere explosion this past week. The precipitating factor may be that people are starting to believe that the Republicans will come to a “fiscal cliff” settlement with the Democrats including very little in entitlement spending; but will then come back, in 2013 with a very tough position on the price they want to agree to raise the debt ceiling to give the Executive operating room for any length of time. Bruce Bartlett had this to say on the issue: Continue reading